154 High Road Loughton Essex IG10 4BE

154 High Road
Loughton
Essex
IG10 4BE

Freehold Restaurant and Residential Investment

Restaurant Let until 2034 (subject to option)
Popular and affluent London commuter town
Includes a Restaurant and a 3 bedroom flat
500 metres from Loughton Underground Station
Neighbouring occupiers include Barclays Bank, HSBC, Nando's, GAIL's Bakery and Topps Tiles.

Lot
23
Auction
16th June 2021
Rent
£59,800 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Restaurant and Residential Investment

Restaurant Let until 2034 (subject to option)
Popular and affluent London commuter town
Includes a Restaurant and a 3 bedroom flat
500 metres from Loughton Underground Station
Neighbouring occupiers include Barclays Bank, HSBC, Nando's, GAIL's Bakery and Topps Tiles.

Lot 23
Auction 16th June 2021
Rent £59,800 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Restaurant
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 13 miles north east of Central London
Roads: A121, M11 (Jct 5), M25 (Junction 26)
Rail: Loughton Underground (Central Line)
Air: London City Airport, London Heathrow,; London Stansted Airport, London Southend

Situation

Loughton is a popular, affluent and attractive commuter town some 13 miles north east of Central London.
The property is situated on the north side of the busy High Road (A121), approximately 500 metres from Loughton underground station. Neighbouring occupiers include Barclays Bank, HSBC, Nando's, GAIL's Bakery and Topps Tiles.

Tenure

Freehold.

Location

Miles: 13 miles north east of Central London
Roads: A121, M11 (Jct 5), M25 (Junction 26)
Rail: Loughton Underground (Central Line)
Air: London City Airport, London Heathrow,; London Stansted Airport, London Southend

Situation

Tenure

Freehold.

Description

The property comprises ground floor restaurant accommodation and a first floor 3 bedroom (2 bathrooms) self contained flat which is accessed from the rear of the property via Smarts Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Description

The property comprises ground floor restaurant accommodation and a first floor 3 bedroom (2 bathrooms) self contained flat which is accessed from the rear of the property via Smarts Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/ (Reversion)
Ground	Restaurant	121.79 sq m	(1,311 sq ft) (3)	INDIVIDUAL t/a T & G’s Tapas Bar & Bistro	15 years from 01/02/2019 (1)	£40,000	01/02/2024 and 01/02/2029 (31/01/2034)
First	3 Bedroom Flat	91.12 sq m	(980 sq ft)	INDIVIDUALS	Assured Shorthold Tenancy for a term of 1 year from 14/05/2021 (2)	£19,800 (2)	(13/05/2022)
Total		212.91 sq m	(2,291 sq ft)			£59,800

(1) As to the restaurant, the lease provides for a tenant option to determine the lease on 01/02/2029 and is outside of the security of tenure provisions of the Landlord & Tenant Act 1954.
(2) As to the flat, the rent shown above has been annualised. The rent reserve under the tenancy agreement is £1650 per calendar month. The Tenancy agreement provide for a mutual option to determine the tenancy at anytime after the first 6 months of the tenancy subject to either party serving 2 month notice in writing.
(3) The ground floor areas stated above have been published by the Valuation Office Agency at
https://www.tax.service.gov.uk/business-rates-find/valuations/23323184000

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.