Let to Kefco Sales Limited t/a KFC on a recently renewed lease
Prominent position on pedestrianised High Street
Situated equidistant between The Victoria and The Royals Shopping Centres
Nearby occupiers include Moss Menswear, Specsavers, McDonald's, Waterstones, Superdrug and Marks & Spencer
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 26
Auction 30th March 2017
Rent
Status Sold
Price £602,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Insolvency Practitioners - Deloitte
Property Information
Location
Miles
20 miles south-east of Chelmsford, 40 miles east of Central London
Roads
A13, A127, M25 (Junction 29)
Rail
Southend Central and Southend Victoria Railway Stations
Air
London Southend Airport
Situation
The property is located in the heart of Southend's busy central shopping area, in a prominent position on the east side of the pedestrianised High Street. The property benefits from excellent footfall, being situated equidistant between The Victoria Shopping Centre to the north and The Royals Shopping Centre to the south. Nearby occupiers include Moss Menswear, Specsavers, McDonald's, Waterstones, Superdrug and Marks & Spencer.
Tenure
Freehold.
Location
Miles
20 miles south-east of Chelmsford, 40 miles east of Central London
Roads
A13, A127, M25 (Junction 29)
Rail
Southend Central and Southend Victoria Railway Stations
Air
London Southend Airport
Situation
The property is located in the heart of Southend's busy central shopping area, in a prominent position on the east side of the pedestrianised High Street. The property benefits from excellent footfall, being situated equidistant between The Victoria Shopping Centre to the north and The Royals Shopping Centre to the south. Nearby occupiers include Moss Menswear, Specsavers, McDonald's, Waterstones, Superdrug and Marks & Spencer.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second Third
Retail/Ancillary Ancillary Ancillary Ancillary
169.50 sq m 158.90 sq m 12.60 sq m Not measured
(1,825 sq ft) (1,710 sq ft) (136 sq ft)
KEFCO SALES LIMITED (1) t/a KFC
5 years from 01/03/2017 on a full repairing and insuring lease (2)
£42,500
28/02/2022
Total
341.00 sq m
(3,671 sq ft)
£42,500
(1) Kefco Sales Limited is a franchise operating KFC restaurants throughout Essex and, for the year ending 29th November 2015, reported a turnover of £24,711,106, pre-tax profits of £2,505,763 and a total net worth of £11,427,738 (Source: Experian Group 27/02/2017). (2) The lease provides for a rolling mutual option to determine after 24th December 2017 on providing 3 months’ prior notice.