Restaurant for sale

Bank Street, Braintree CM7

Commercial property investment – virtual freehold - occupying an exceptional trading position in the affluent area of braintree in the town centre and located close to car parks. The property has most recently traded as a coffee deli bar and has a long history of catering use lending itself to a variety of cuisines. The property would also suit retail use in the future such as a convenience store or even an off licence as the property has previously had a premises licence in place and we believe this minimises the risk of an untenanted property. Total rental income £17,000 plus VAT. Measuring approximately 820 Sq. Ft. The premises benefits include external seating, large trading area, and A good-sized rear store. The premises are held on a long leasehold of 99 years with approximately 32 years remaining paying a ground rent of £300 per annum. The premises are currently let at £17,000 per annum plus VAT.

Tenure: Virtual freehold

The property is held on a virtual freehold/long leasehold of 99 years with approximately 32 years unexpired with a ground rent payable of £300 per annum. The premises are currently let on an underlease to an experienced operator with multiple businesses for a term of 15 years commencing July 2024and producing a rental income of £17,000 per annum plus VAT. The underlease contains rent reviews every 5th anniversary and is contracted outside of the lta 1954.

The premises occupies a main trading position within the town centre uniquely sandwiched between Lloyds Bank and Ladbrokes as well as being surrounded by all the major high street retailers, supermarkets, banks and offices. The trading position is close to the main road going through the town and the shopping centre therefore creating a highly enviable passing footfall with natural organic vehicular traffic.

The Premises:

External front - A large display window is to the left-hand side of a wood framed part-glazed large single door entrance. Externally the premises benefits from a full width display fascia, wall mounted signage box with lighting and seating for 10+ covers.

Retail space - Open plan and rectangular in shape measuring 40.58 x 14.36 approximately 583 sq. Ft. The retail space currently benefits from wood type flooring throughout, industrial style lighting with hanging feature lights, part panelled interior walls and can accommodate 38+ covers. Towards the rear of the premises would be the serving area on the left-hand side and on the right-hand side is a door leading you into the customer toilets and disabled WC with baby change. This is subject to change as we understand the tenant plans a major refurbishment of the property.

Kitchen - located at the end of the retail space, behind where the till serving area would be there is a door into the compact kitchen, which does have the option for a small extraction canopy and measures only 6.36 x 9.43 approximately 60 sq. Ft. A doorway in the kitchen leads to a lean-to area that provides access to the rear service yard and has 2 internal doors for an owners' office/staff room and a double-sized dry store.

Please contact Essex and Suffolk business sales