Restaurant let to Uxbridge Delights Limited (t/a 12th Street Burgers and Dynamite Wings)
New 15 year lease from May 2022 (subject to options)
Newly opened restaurant with significant tenant expenditure
Upper parts let to Stef & Phillips Limited until November 2025 - a leading provider of accommodation services across the UK
Prominent corner position on pedestrianised High Street
Close to The Royals Shopping Centre and Southend Railway Station with other nearby retailers including Marks and Spencer, H&M, Primark, Specsavers, JD Wetherspoon and Superdrug.
Restaurant let to Uxbridge Delights Limited (t/a 12th Street Burgers and Dynamite Wings)
New 15 year lease from May 2022 (subject to options)
Newly opened restaurant with significant tenant expenditure
Upper parts let to Stef & Phillips Limited until November 2025 - a leading provider of accommodation services across the UK
Prominent corner position on pedestrianised High Street
Close to The Royals Shopping Centre and Southend Railway Station with other nearby retailers including Marks and Spencer, H&M, Primark, Specsavers, JD Wetherspoon and Superdrug.
Lot 19
Auction 22nd September 2022
Rent £65,621 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
20 miles south-east of Chelmsford, 41 miles south-west of Colchester, 43 miles east of London
Roads
A13, A127, A1160
Rail
Southend Central Station (54 minutes to London Fenchurch Street)
Air
London Southend Airport
Situation
The property is situated in a prominent corner location on the western side of the pedestrianised Southend High Street at its junction with Clifftown Road. Southend Railway Station, the seafront and The Royals Shopping Centre are all a short walk away with other nearby retailers including Marks and Spencer, H&M, Primark, Specsavers, JD Wetherspoon and Superdrug.
Tenure
Freehold.
Location
Miles
20 miles south-east of Chelmsford, 41 miles south-west of Colchester, 43 miles east of London
Roads
A13, A127, A1160
Rail
Southend Central Station (54 minutes to London Fenchurch Street)
Air
London Southend Airport
Situation
The property is situated in a prominent corner location on the western side of the pedestrianised Southend High Street at its junction with Clifftown Road. Southend Railway Station, the seafront and The Royals Shopping Centre are all a short walk away with other nearby retailers including Marks and Spencer, H&M, Primark, Specsavers, JD Wetherspoon and Superdrug.
Tenure
Freehold.
Description
The property comprises a newly fitted restaurant/takeaway arranged on the ground and basement floors & a fully licensed and fully let HMO arranged on the first and second floors comprising 5 bedrooms and 1 fully equipped kitchen.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
6 week completion
EPC
See legal pack
Description
The property comprises a newly fitted restaurant/takeaway arranged on the ground and basement floors & a fully licensed and fully let HMO arranged on the first and second floors comprising 5 bedrooms and 1 fully equipped kitchen.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
6 week completion
EPC
See legal pack
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement
Retail/Ancillary Ancillary
87.43 71.00
(941) (764)
UXBRIDGE DELIGHTS LIMITED (t/a 12th Street and Dynamite Wings) (1)
15 years from 20/05/2022 (2)
£35,000
19/05/2027 and 19/05/2032
First Second
Residential Residential
84.85 66.07
(913) (711)
STEF & PHILIPS LIMITED (3)
10 years from 05/11/2015
£30,621
Total
309.35
(3,329)
£65,621
(1) The shop trades as chicken chain Dynamite Wings & American-style burger restaurant, 12th Street Burgers. This is the chain's sixth branch within 18 months of bringing 12th Street Burgers and Shakes to the UK. This branch is operated by franchisees and opened on 15th August, 2022. (2) The lease is subject to a tenant only option to determine on 19/05/2027 and 19/05/2032. The tenant has been granted a 50% reduction in rent for the first year of the lease, however an allowance will be made by the seller on completion of the sale until the expiry of the concessionary rental period. The seller also holds a deposit of £21,000 from the tenant. (3) www.stefphilips.com - Founded in 2006, Stef & Philips are an independent property management services company and a leading provider of accommodation services. They are specialists in providing accommodation to local authorities, housing associations and charitable organisations and to date have built 2,780 units and delivered homes to more than 7,500 tenants.
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.
