A long leasehold commercial investment with occupational sub-lease producing a strong yield
Situated in a prominent central location is this lock-up takeaway extending to approximately 380 sq ft together with a useful enclosed yard to the rear. The town of Manningtree, traditionally claimed to be the smallest in England, abuts the River Stour and offers a range of shops for everyday needs and a direct rail line to London Liverpool Street with a journey time of around 1 hour. The larger towns of Colchester and Ipswich are some 10 and 11 miles distant respectively. The property which has A5 usage, is held on a 99 year lease from 1997 and was sub-let on a 10 year occupational lease in December 2017. Currently trading as a kebab & pizza takeaway, the rental income is £6000 per annum with a review due in December 2022. With a 10% annual return based on the low Guide Price, this is certainly an investment not to be overlooked. Ground Rent: £80 pa with fixed increases to £160 pa after 33 years and £240 pa after 66 years.
Tenure
Leasehold
Note
The sale of this long leasehold interest in subject to the landlord's consent which may not be withheld unreasonably.
Viewing
Please call the Auctioneers - 01473 558888
Energy Efficiency Rating (EPC)
Current Rating D
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Tendring District Council. Tel: 01255 686868
Solicitors
Ellisons, Headgate Court, Head Street, Colchester CO1 1ND, Ref: Mr P Roberts, Tel: 01206 719671
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - 0.3% including VAT subject to a minimum of £840.00 including VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.