COMMON USE CLASS: A3 Restaurants and Cafes
Dagenham forms part of the L.B. of Barking and Dagenham, being about 11 miles from Central London and with a population of circa £120,000. Green Lane is a principal thoroughfare within Dagenham providing the shops, services and restaurants the towns populous requires. The subject property adjoins Reels Casino Slots and is within a block offering convenience services for what is a densely populated catchment area.
The property comprises a Ground Floor Restaurant of approximately 800 square feet with a flat roof, hence the development potential. The restaurant trades as “Indiano” who operate 5 Pizzerias within Essex – a copy of the Lease is available upon request.
The property is Let on Full Repairing and Insuring terms to Mr Mohammed Mahmood who effectively provides a Personal Guarantee. The Lease expires 9 June 2031 with Rent Reviews June 9 2023 and 2027 at a current rent of £17,750 per annum exclusive being drawn outside the security provisions of the 1954 Landlord and Tenant Act.
Freehold, subject to the existing Lease, a copy of which is available upon request.
Offers are invited in excess of £300,000 – the successful bidder will be required to demonstrate proof of Funds.
Each party to bear their own with a Deposit to be provided by the Purchaser to form either part of the funds to exchange or the Landlords abortive legal costs should the Purchaser withdraw during the legal process.
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