FOR SALE, COMMERCIAL INVESTMENT OPPORTUNITY, WICKFORD, ESSEX

Property Description

Investment opportunity comprising a deceptively large, single storey, restaurant which has been fitted to an exceptionally high standard by the current tenants, along with a fully self-contained four-bedroom maisonette. The property is prominently positioned on the western side of Wickford High Street, a short distance from its junction with Market Road and less than 300m from Wickford Mainline Train Station, with journey times of approx. 45 mins to London Liverpool Street. Wickford is located approx. 3 miles north of Basildon, 10 miles west of Southend and 8 miles south of Chelmsford.

Accommodation
The property has been measured on a Net Internal (NIA) basis, and the following approx. floor areas calculated:

Main Restaurant: 1,565 sq ft (145.42 sq ms)
Ancillary Areas: 369 sq ft (34.29 sq ms)
Kitchen: 285 sq ft (26.43 sq ms)
4 Bedroom Flat: Unmeasured

Tenure
The commercial property is let by virtue of a 25-year lease commencing 22nd January 2008 (expiring 2033) at a current rent of £30,000 p.a. and we understand that the 2023 rent review is yet to be implemented.

The 4-bedroom Maisonette is occupied on the basis of an AST with a September 2025 expiry, at a rent of £10,800 p.a.

Business Rates
The premises currently appear on the 2023 Rating List as ‘Restaurant & Premises’ with an adopted rateable value of £27,640.

Commercial Energy Performance Certificate
The commercial property has a Commercial Energy Performance Certificate (EPC) rating of C-59, valid until 18th January 2031. This certificate will be made available for inspection. The 4-bedroom Maisonette has an EPC rating of D-62, valid until 10th May 2029

Freehold Price
The investment is offered for freehold sale, subject o an asking price of £650,000

Viewing Arrangements
Strictly via the Sole Selling Agents. For more details or to arrange a viewing please contact:

Roy Horton
DD: 01702 311039
E: royhorton@dedmangray.co.uk