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Lot 8 Click here for addendum

ON BEHALF OF EXECUTORS
6 Week completion

SITUATION

Located close to the junction with London Road (A13) in this busy shopping location in Westcliff-on-Sea with nearby multiples which include Sainsbury's Local, Coral, Greggs, Co-Op, WHSmith Local, Post Office and Boots.
Westcliff-on-Sea is a prosperous mixed residential and commercial town abutting Southend approximately 35 miles east of Central London.

PROPERTY

A mid-terraced property comprising a Ground and First Floor Restaurant & Bar including rear vehicular access with private parking for 3 cars.

ACCOMMODATION

Ground Floor Restaurant (46 covers)
Gross Frontage 22'0"
Internal Width 19'8"
Shop Depth 42'7"
Built Depth 75'0"
Disabled WC
First Floor Restaurant (13 covers)
Spiral Staircase to
Lounge Area Approx. 230 sq ft
Ladies and Gents WCs

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Rubetti Limited (with personal guarantor) t/a Barru Bar & Kitchen (visit: www.barru.co.uk) for a term of 15 years from 13th August 2009 at a current rent of £15,500 per annum exclusive (see Note 1).

Rent Review 2022

Note 1: The tenant currently pays £14,400 p.a. by way of a personal concession which expires on 13th August 2018.

Note 2: There is a £14,412 Rent Deposit held.

Note 3: The lessee has made an application to assign the lease to another restaurant operator.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

107 Hamlet Court Road, Westcliff-on-Sea, Essex SS0 7ES