SAVILLS LONDON33 Margaret StreetLondon W1G 0JD

+44 (0) 20 7409 8178

savills.co.uk

RESTAURANT INVESTMENT FOR SALE GUIDE PRICE £375,000

ZARA INDIAN CUISINEChelmsford Road, Woodham Mortimer, Maldon CM9 6TJ

Key Highlights• Freehold restaurant investment for sale

• Managers accommodation at first floor

• Large car park adjacent to the property

• Let on a tied lease which expires in April 2027 at a current rent of £35,030 per annum

• Additional tied income received by the landlord

• Guide price £375,000 (9.0% NIY)

• Business unaffected by sale

• Site Area: 0.66 acres

savills.co.uk

LocationThe premises are located in the village of Woodham Mortimer, Essex, approximately 3.5 miles (5.6 kilometres) west of Maldon and 6.8 miles (10.9 kilometres) east of Chelmsford in a predominantly residential location.

Local facilities in the nearby town of Danbury comprise a Tesco express, Co-op, three golf clubs, Danbury Sports & Social Centre, Danbury Park Community Primary School as well as several pubs and restaurants. The property is situated on the A414, which connects to the A12 towards Chelmsford to the west and provides access to the M25 to the south west. The nearest train station is located in Chelmsford, approximately 7.0 miles (11.3 kilometres) to the west and provides regular services to London Liverpool Street in a journey time of approximately 35 minutes.

DescriptionThe property comprises a two storey detached building, above basement, with painted rendered elevations beneath and pitched and hipped clay tiled roof. There is a single storey extension to the right hand elevation. Externally there is a car park to the left and right hand elevations for approximately 30 vehicles.

AccommodationThe ground floor comprises an open plan trading area with central bar servery laid out with a variety of tables and seating for approximately 70 covers. Customer toilets and a trade kitchen are located to the rear of the ground floor. The basement provides a beer cellar and ancillary storage. The first floor comprises manager’s accommodation. The site extends to a total of 0.66 acres.

SAVILLS LONDON33 Margaret StreetLondon W1G 0JD

+44 (0) 20 7409 8178

ContactJames Grasby+44 (0) 207 409 8178james.grasby@savills.com

Stuart Stares+44 (0) 207 299 3088sstares@savills.com

PlanningOur enquiries to the local authority have revealed that the property is not listed, nor within a conservation area.

Tenure & TenancyThe property is held freehold.

The entire property is let on a full repairing and insuring 20 year lease from 16 April 2007 at a current rent of £35,030.78 per annum, subject to annual RPI linked reviews and open market rent reviews every fifth year (the open market review can be in an upwards or downwards direction). The lease is tied for all drinks except wines, spirits and minerals. A rent deposit of £10,708.55 is held by the landlord.

Barrelage information may be provided upon written request.

Rateable ValueThe subject property is listed in the 2017 Rating List with a Rateable Value of £17,000.

VATIt is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

TermsWe are instructed to invite offers in the region of £375,000 (9.0% NIY) assuming usual purchasers’ costs.

The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

Viewings & ContactsPotential buyers are encouraged to undertake a customer visit in the first instance. Under no circumstance should any direct approach be made to any of the occupational tenants’ staff.

For further information and all formal viewing requests please contact the sole selling agents Savills.

IMPORTANT NOTICEMaps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | August 2020