Entirely let to Prezzo Plc (t/a Caffé Uno) until 2021
Busy High Street Location
Nearby occupiers include Marks and Spencer, Next, Greggs, KFC, Monsoon and Caffé Nero
Six Week Completion
Lot 3
Auction 17th October 2013
Rent £70,404 per Annum Exclusive
Status Sold
Price £850,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
On the Instructions of Joint LPA Receivers Zolfo Cooper
Property Information
Location
Miles
12 miles south-west of Chelmsford, 11 miles west of Basildon, 11 miles north-east of Dagenham
Roads
M25 (Junction 28), A12, A128
Rail
Brentwood Rail Station (approx 30 mins to London Liverpool Street)
Air
London City Airport, Stansted Airport
Situation
The property is located on the northern side of Brentwood High Street, some 200 metres from The Baytree Shopping Centre.
Other nearby occupiers include Marks and Spencer, Next, Greggs, KFC, Monsoon and Caffé Nero.
Tenure
Freehold.
Location
Miles
12 miles south-west of Chelmsford, 11 miles west of Basildon, 11 miles north-east of Dagenham
Roads
M25 (Junction 28), A12, A128
Rail
Brentwood Rail Station (approx 30 mins to London Liverpool Street)
Air
London City Airport, Stansted Airport
Situation
The property is located on the northern side of Brentwood High Street, some 200 metres from The Baytree Shopping Centre.
Other nearby occupiers include Marks and Spencer, Next, Greggs, KFC, Monsoon and Caffé Nero.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with staff/storage accommodation on the first floor and self-contained residential accommodation on the second floor accessed from the rear.
The property also benefits from a roof terrace and 2/3 car parking spaces to the rear.
Note
This property is being marketed for sale on behalf of CP Holder, KJ Coates and AC O’Keefe as Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant with staff/storage accommodation on the first floor and self-contained residential accommodation on the second floor accessed from the rear.
The property also benefits from a roof terrace and 2/3 car parking spaces to the rear.
Note
This property is being marketed for sale on behalf of CP Holder, KJ Coates and AC O’Keefe as Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First Second
Restaurant Staff/Storage Residential
170.30 sq m 48.90 sq m Not Measured
(1,833 sq ft) (526 sq ft) Not Measured
PREZZO PLC (1) t/a Caffe Uno
25 years from 24/06/1996 until 24/06/2021 on a full repairing and insuring lease
£70,404
09/08/2016
Totals
219.20 sq m
(2,359 sq ft)
£70,404
(1) For the year ending 30th December 2012, Prezzo Plc reported a turnover of £144,524,000, pre-tax profits of £17,324,000 and a total net worth of £90,195,000. (Source: www.riskdisk.com 16/09/2013)
Contacts
Seller's Solicitors
DLA Piper Princes Exchange, Princes Square Leeds LS1 4BY
