Unit 6b, Midas Business Centre, Wantz Road, Dagenham

Investments/Development Opportunities,Dagenham,RM10 8PS,A3 , Sold

Commercial information:

0 sq ft ( 0 sq m)

Price : £189,000.00

Key features

Size: 0Sq ft | Property Type: Investments/Development Opportunities
Tenure: Virtual Freehold | Area: Dagenham | Postcode: RM10 8PS

Location

LOCATION DETAILS:
The property is located at the Northern end of Wantz Road within an area occupied by numerous industrial, warehouse &
distribution companies who include Howdens Joinery. There are a number of Industrial Estates situated both adjacent & close to
the subject unit which include, Midas Business Centre, Pollyte Works & Heathway Industrial Estate. In addition there is a BT Fleet
Services site & a depot occupied by Barking & Dagenham Council, both of which are within 100 yards of the property. Dagenham East (District Line) station is within a 10 minute walk.

Contact Details

Bennett Phillips Luton

199a High Road
Loughton
Essex
IG10 4LF


Tel : 020 8501 3000
Phone : 020 8501 3000
Fax : 020 8500 5008

ACCOMMODATION: 
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.
 
TENURE:
In accordance with our client's instructions, we are instructed to sell the remainder of the Head Lease which was originally for a term of 999 years from 25th December 1983, thus there are approx 964 years unexpired. 
 
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.
 
LEGAL COSTS:
Each party to bear their own legal costs borne in this transaction.ACCOMMODATION: 
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.
TENURE:
In accordance with our client's instructions, we are instructed to sell the remainder of the Head Lease which was originally for a term of 999 years from 25th December 1983, thus there are approx 964 years unexpired. 
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.
LEGAL COSTS:
Each party to bear their own legal costs borne in this transaction.

Other Details


Accomodation

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.

Lease

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.

Rent

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.

Legal Costs

Each party to bear their own legal costs borne in this transaction.

Viewing

VIEWING: Strictly by appointment through sole agents Bennett Phillips Luton | 0208 501 3000 Contact Marc Luton at marc@bennettphillips.com


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