154 High Road
Loughton
Essex
IG10 4BE

Freehold Restaurant and Residential Investment

  • Restaurant Let until 2034 (subject to option)
  • Popular and affluent London commuter town
  • Includes a Restaurant and a 3 bedroom flat
  • 500 metres from Loughton Underground Station
  • Neighbouring occupiers include Barclays Bank, HSBC, Nando's, GAIL's Bakery and Topps Tiles.
  • Lot
    23
  • Auction
    16/Jun/2021
  • Rent
    £59,800 per Annum Exclusive
  • Status
    Available
  • Price*
    £850,000
  • Sector
    Restaurant
  • Auction Venue
    Live Streamed Auction
  • 154 High Road<br>Loughton<br>Essex<br>IG10 4BE
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  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
13 miles north east of Central London
Roads
A121, M11 (Jct 5), M25 (Junction 26)
Rail
Loughton Underground (Central Line)
Air
London City Airport, London Heathrow,
London Stansted Airport, London Southend
Situation

Loughton is a popular, affluent and attractive commuter town some 13 miles north east of Central London.
The property is situated on the north side of the busy High Road (A121), approximately 500 metres from Loughton underground station. Neighbouring occupiers include Barclays Bank, HSBC, Nando's, GAIL's Bakery and Topps Tiles.

Tenure

Freehold.

Description

The property comprises ground floor restaurant accommodation and a first floor 3 bedroom (2 bathrooms) self contained flat which is accessed from the rear of the property via Smarts Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews/
(Reversion)
GroundRestaurant
121.79 sq m
(1,311 sq ft) (3)
INDIVIDUAL t/a
T & G’s Tapas
Bar & Bistro
15 years from
01/02/2019 (1)
£40,00001/02/2024
and
01/02/2029
(31/01/2034)
First3 Bedroom
Flat
91.12 sq m
(980 sq ft)
INDIVIDUALSAssured Shorthold
Tenancy for a term
of 1 year from
14/05/2021 (2)
£19,800 (2)(13/05/2022)
Total
212.91 sq m
(2,291 sq ft)
  £59,800 

(1) As to the restaurant, the lease provides for a tenant option to determine the lease on 01/02/2029 and is outside of the security of tenure provisions of the Landlord & Tenant Act 1954.
(2) As to the flat, the rent shown above has been annualised. The rent reserve under the tenancy agreement is £1650 per calendar month. The Tenancy agreement provide for a mutual option to determine the tenancy at anytime after the first 6 months of the tenancy subject to either party serving 2 month notice in writing.
(3) The ground floor areas stated above have been published by the Valuation Office Agency at
https://www.tax.service.gov.uk/business-rates-find/valuations/23323184000

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    01.06.21
    File Size
    17 MB
    Login to View
  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    662 KB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    895 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Mullis & Peake LLP 8-10 Eastern Road
Romford
Essex
RM1 3PJ
Andrew Fidler 01708 784 026andrewfidler@mplaw.co.uk

Useful Links

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