Acquired
Benfleet – Restaurant and Retail Shop
9/11/15/17 High Street, Benfleet, Essex SS7 1NAFreehold Restaurant & Retail Investment
Tenure
Freehold
Lease Term
20 Years
Years Left on Lease
17y 3m
Area
2,700 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises two commercial units, a restaurant (A3/A4) with upper parts consisting of a 1-bedroom flat and retail Shop trading as a Barber.
- Located within short walk to Benfleet Train Station, with direct links to Central London
- Ample convenient parking nearby
- Nearby occupiers include number of pubs, takeaways and a convenience store.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor restaurant (A3/A4) with 1-bedroom flat above and lock-up unit currently operating as a Barber Shop.
The property provides the following accommodation and dimensions:
No. 9,11,15: Ground Floor Restaurant 142 sq m (1,530 sq ft)
Bar, Seating Areas, Kitchen, WCs
No. 11: First Floor Residential Flat 84 sq m (900 sq ft)
1 Bedroom, Living Room, Bathroom/WC
No. 17: Ground Floor Retail Shop 45 sq m (484 sq ft)
Retail Area, Storage, WC
Total area size: 271 sq m (2,914 sq ft)
The property provides the following accommodation and dimensions:
No. 9,11,15: Ground Floor Restaurant 142 sq m (1,530 sq ft)
Bar, Seating Areas, Kitchen, WCs
No. 11: First Floor Residential Flat 84 sq m (900 sq ft)
1 Bedroom, Living Room, Bathroom/WC
No. 17: Ground Floor Retail Shop 45 sq m (484 sq ft)
Retail Area, Storage, WC
Total area size: 271 sq m (2,914 sq ft)
Tenancy Description
The Restaurant at No.9-15 is at present let to an Individual t/a Turkish restaurant for a term of 20 years from 23rd March 2022 at a current rent of £35,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Rent review every 5th year linked to RPI. Rent deposit held of £8,750.
The Shop at No.17 is at present let to an Individual t/a Barber for a term of 5 years from April 2022 at a current rent of £6,480 per annum and the lease contains full repairing and insuring covenants. No break clause. The tenant has been in occupation for 30 years.
The Shop at No.17 is at present let to an Individual t/a Barber for a term of 5 years from April 2022 at a current rent of £6,480 per annum and the lease contains full repairing and insuring covenants. No break clause. The tenant has been in occupation for 30 years.
Tenancies & Accommodation
Location Description
Benfleet is located within the Castle Point borough in south Essex, 30 miles (48 km) east of central London. The A13 crosses Castle Point and the A127 skirts it to the north, providing direct links to both Southend and London. The M25 is 20 minutes drive away. Stansted Airport is 35 miles (56 km) from the borough and offers a full range of national and international flights. Stansted is the third busiest airport in the UK and serves 160 destinations across 34 countries. The property is located within short walk to Benfleet Train Station, with direct links to London Fenchurch. Nearby occupiers include number of pubs, takeaways and a convenience store.
