Investments/Development Opportunities,Dagenham,RM10 8PS,A3 , Sold
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Size: 0Sq ft | Property Type: Investments/Development Opportunities Tenure: Virtual Freehold | Area: Dagenham | Postcode: RM10 8PS
Bennett Phillips Luton
199a High Road
Comprising a fully fitted café which, under different ownerships, has operated along the same lines for many years. The property is laid out to provide a customer seating area with a maximum of c. 56 covers, kitchen, preparation area, M/F WC facilities, externally accessed storage & 2 demised car parking spaces within the communal car park for Midas Business Centre. Externally there is a seating area at the front of the property, which provides additional covers.
EXISTING TENANCY AND RENTAL INCOME DERIVED: Commercial – Let upon the terms of a FRI Lease which was originally for a term of 25 years from August 2014, subject to 4 yearly upward only rent reviews. At the August 2018 review the rent was increased from £11,000pax to the current passing rent of £13,000pax. A 3-month rent deposit is held by our client for the term of the tenants occupation.
PRICE: Offers are invited in the region of £189,000 for the benefit of our clients long leasehold interest to include the rental income derived under the terms of the current occupational lease.
Each party to bear their own legal costs borne in this transaction.
VIEWING: Strictly by appointment through sole agents Bennett Phillips Luton | 0208 501 3000 Contact Marc Luton at firstname.lastname@example.org