Located directly opposite Shenfield Crossrail station
Popular and Affluent London Commuter Town
2020 Rent Review Outstanding.
Notice served proposing a new rent of £30,000 pax
VAT Free Investment
Neighbouring occupiers include Costa Coffee, Rowlands Pharmacy, Tesco Express, Barclays Bank and Co-op Food
Lot 31
Auction 25th March 2021
Rent £26,000 per Annum Exclusive
Status Sold Prior
Price
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
12 miles south-west of Chelmsford,
30 miles north-east of Central London
Roads
A12, A127, M25 (Junction 28)
Rail
Shenfield CrossRail Station
Air
London Stansted and Southend Airports
Situation
Shenfield affluent and attractive London commuter town. The property is prominently located on the north side of the busy Hutton Road on a popular retail parade, directly opposite Shenfield Crossrail Station. Neighbouring occupiers include Costa Coffee, Rowlands Pharmacy, Tesco Express, Barclays Bank and Co-op Food.
Tenure
Virtual Freehold. Held for for a term of 999 years from 19th December 1990 at a peppercorn rent.
Location
Miles
12 miles south-west of Chelmsford,
30 miles north-east of Central London
Roads
A12, A127, M25 (Junction 28)
Rail
Shenfield CrossRail Station
Air
London Stansted and Southend Airports
Situation
Shenfield affluent and attractive London commuter town. The property is prominently located on the north side of the busy Hutton Road on a popular retail parade, directly opposite Shenfield Crossrail Station. Neighbouring occupiers include Costa Coffee, Rowlands Pharmacy, Tesco Express, Barclays Bank and Co-op Food.
Tenure
Virtual Freehold. Held for for a term of 999 years from 19th December 1990 at a peppercorn rent.
Description
The property forms part of a mid terraced building and comprises a ground floor restaurant with the benefit of access to the rear via a service road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property forms part of a mid terraced building and comprises a ground floor restaurant with the benefit of access to the rear via a service road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Ground
Restaurant
76.49 sq m
(823 sq ft)
ASEAR GROUP LIMITED t/a Sienna’s Restaurant
25 years from 25/10/2015 (1)
£26,000
October 2020 and 5 yearly (2) (24/10/2040)
Total
76.49 sq m
(823 sq ft)
£26,000
(1) The lease provides for a tenant option to determine in 2025 and 5 yearly. (2) The October 2020 rent review is outstanding. The landlord has served a rent review notice on the tenant proposing a new rent of £30,000 per annum exclusive.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
