Property Information
Address:
64, Orsett Road, Grays
, RM17 5EH
Price: Sale Price: £300,000
Size: 1237 sq ft115 sqm
Primary Category: Investment
All Categories:
Investment, Leisure, Restaurant,
Property Ref/Movehut: MH665792
Property Ref/Agent: 64 Orsett Road
*Please use the agent ref when calling the agent directly.
Property description
Location
The property occupies a position fronting Orsett Road, close to Papa John’s, Thurrock Mazda/Honda dealership and Grays Library. The property is within walking distance of Grays Town Centre, with Cromwell Road Pay and Display Car Park located close by. Grays Town Train Station is approximately 0.5 miles away, providing a c2c service to London (Fenchurch Street) in approximately 35 minutes. The National Motorway network is available via the A13 approximately 1.7 miles due North.
The property
A mid-terrace property comprising a fully refurbished self-contained ground floor restaurant/takeaway.
This space comprises a counter and 20 cover restaurant with kitchen, prep room and toilet to the rear. There is also a lean-too, providing additional storage. Two car spaces are demised to the rear. This accommodation is let as described below.
The shared entrance to the front leads to first floor offices, comprising two rooms benefitting from carpeted flooring, floor mounted power points and B.T with a small kitchenette. Double glazed windows and recessed lighting are also installed. There is a singular toilet located at first floor level.
There is a rear yard, together with garage and two car spaces. This space is currently vacant.
Please note – the ground floor business is not for sale.
Accommodation Measured in accordance with the RICS Code of Measuring Guide the approximate net internal floor area of the commercial area is:
*UNDER OFFER*
Ground floor 673 sq ft 62.5 sq m
1st Floor offices 428 sq ft 39.7 sq m
Garage 136 sq ft 12.6 sq m
TOTAL 1,237 sq ft 115.0 sq m
Plus rear yard/access.
Figures
Offers in excess of £300,000 for the freehold interest subject to the lease as described. Our estimate of total rental income is £18,500pa although interested parties must satisfy themselves in this respect. *UNDER OFFER*
EPC
The EPC rating for the commercial area is D81.
The offices are awaiting EPC assessment.
Business rates
The Ratable Value for the commercial area is £11,500 (2017).
The Ratable Value for the first floor offices is £5,400 (2017).
In both cases, nil business rates apply if the Tenant qualifies for Small Business Rate Relief.
Legal costs
Each party is to be responsible for the payment of its own legal costs.
Tenants
The restaurant is let to Mr Bode Adeniran on a full repairing and insuring lease for 10 years from 17th December 2021 at £9,000 per annum exclusive, subject to upward only rent reviews every 3 years. There is a 3 month rent deposit.
The first floor offices are currently vacant. Our estimate of the potential rental income is £8,500pa and £1,000pa in respect of the garage. However, interested parties are advised to satisfy themselves fully in this respect.
Agent’s Note
All figures quoted are exclusive of VAT (if applicable)
No warranty is given is respect of the current planning use.
None of the amenities or fixtures and fittings have been tested.
Money Laundering Regulations
Due to recent money laundering regulations, all Tenants and Purchasers when making an offer on a property will need to provide a copy of their current Passport photo page and a recent Utility Bill confirming their current address.
Enquiries/Viewings
Please contact sole agents, Branch Associates on 01708 860696 / 07775 804842 or email: jb@branchassociates.co.uk
;