Restaurant for sale

London Road, Leigh-On-Sea SS9

Location:
Situated along London Road, which is one of the main thoroughfares running through Leigh-on-Sea, nearby retailers include Waitrose, Sainsburys and a variety of other successful businesses.
Leigh-on-Sea is a charming coastal town situated along the Thames Estuary, known for its picturesque old town, sandy beaches, and vibrant arts scene. It's part of the larger Borough of Southend-on-Sea.

Description:
A modern new built property consisting of a retail unit trading as fast food takeaway and
3 self-contained flats accessed from an independent street entrance.

Size and Dimensions:
Takeaway Unit
Shop 258.33 ft2 24 m2
Prep Area 185.35 ft2 17.22 m2
Rear Store 130.67 ft2 12.14 m2
Covered Stores 206.68 ft2 19.2 m2
Studio with shower & WC 172.22 ft2 16 m2
Total Combined Area 953.25 ft2 88.56 m2

Upper Flats
Flat 1 (1st floor front) 409 ft2 Integral Kitchen/Diner, Bedroom, Bathroom
Flat 2 (1st floor rear) 494 ft2 Integral Kitchen/Diner, Bedroom, Bathroom
Flat 3 (top floor) 702 ft2 Kitchen, Lounge, Bedroom, Bathroom
Plans available upon request

Tenure: Freehold

Tenant information:
Takeaway Unit Presently Holding over at £7,200 pax (erv £13,000 pax)
Flat 1 (1 Bed) £10,800 pa periodic tenancy
Flat 2 (1 Bed) £10,800 pa periodic tenancy
Flat 3 (1 Bed) £10,800 pa periodic tenancy
Total Income £40,500 pax (erv £48,300 pax)

Our Opinion on Capital Value of each Part
Commercial at £7,200 pax @ 7% niy = £100,000
Commercial at £13,000 pax @ 7% niy = £185,000

Flat 1 - 409 ft2 £200,000
Flat 2 - 494 ft2 £200,000
Flat 3 - 702 ft2 £225,000

Purchase Price: Guiding at £599,000 subject to contract.

Legal Costs:
Each party to pay for their own legal fees

Anti-Money Laundering
Due to recent changes in the Anti Money Laundering regulation, it is now standard procedure to undertake a Personal and Company and general aml checks, admin cost of £350 + VAT.