A ground floor restaurant of approximately 550 ft², recently let on a 7 year term at a rent of £11,700 pa. The lease is subject to annual RPI increases, a lease deposit and there is a personal guarantor.
The shop is situated close to Staple Hill High Street and is offered for sale as a tenanted investment opportunity.
DESCRIPTION -
A ground floor shop let to a restaurant on a new 7 year term at a rent of £11,700pa. The shop measures approximately 550 ft² and is situated close to Staple Hill High Street.
LOCATION -
The shop is situated just off the Staple Hill High Street.
TENURE -
This is to be confirmed but it is anticipated the shop will be sold on a new 999 year leasehold basis.
TENANCY DETAILS -
The shop is let on a new 7 year effectively fully repairing and insuring term, at a rent of £11,700pa. the lease is subject to a annual RPI rent increase and a tenant break clause on the 27th March 2027 (3 year). The lease is subject to a deposit of £1,950 and there director's guarantee. Whilst the garden is not included in the title offered for sale, the tenant has the right to use the rear garden between the hours of 10am and 9.30pm.
BUSINESS RATES -
The Rateable Value with effect from April 2023 is £4,800 and therefore we would expect those eligible for small business relief to benefit from 100% exemption at this time. However, we advise all interested parties to confirm directly with the local authority.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D Valid to October 2027.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
PHOTOS -
Please note these are library photos whilst the unit is being refurbished. The photographs will be updated in due course.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
