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Restaurant for sale in Dagenham

740 Green Lane, Dagenham, Essex RM8 1YX
For sale
£300,000 Offers In Excess Of

COMMON USE CLASS: A3 Restaurants and Cafes

russell-lewis
This property is marketed by:
Russell Lewis

Location

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.

Description

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.

Lease

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.

Tenure

Freehold, subject to the existing Lease, a copy of which is available upon request.

Price

Offers are invited in excess of £300,000 – the successful bidder will be required to demonstrate proof of Funds. 

Legal costs

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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