Zara Indian Dining, 24 Hadham Road, Bishop's Stortford, CM23 2QS

Description
The property comprises the ground and first floor of a two storey detached building with painted rendered elevations beneath a pitched and hipped roof. There is a two storey office building to the rear of the car park with wooden elevations beneath a pitched roof.

Location
Located in the town of Bishops Stortford in the county of Essex, 20.2 miles (32.3 kilometres) west of Braintree, 21.5 miles (34.4 kilometres) east of Stevenage and 27.4 miles (43.9 kilometres) south of Cambridge. The Zara is situated at the junction between Chantry Road and Hadham Road in a residential area with an independent retailer to the rear and a Waitrose a short distance to the east.

Virtual Tour
Please see the link below to access the Virtual Tour:



Accommodation
Ground Floor: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and bench seating for 106 customers. Ancillary areas comprises a trade kitchen, dry store and customer WC's.

First Floor: The first floor comprises three bedrooms, dry store and bathroom.

Externally: There is a trade terrace to the side of the property with seating on loose tables, chairs and bench seating for 12 customers. To the side is parking for 11 vehicles.

Tenure
The property is held freehold (Title Number HD332066).

Tenancy
The entire property is let to three private individuals on a 20 year lease from 18 December 2019 at a current rent of £49,305 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £11,943 is held by the landlord.

There is a separate office to the rear of the car park that is let on 10 year lease from January 2001 at a rent of £3,250 per annum with the tenant currently holding over.

Planning
The property is not listed but is situated within Bishop's Stortford Conservation Area.

VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

EPC
E-101

Terms
We are instructed to invite offers in excess of £670,000 (7.45% NIY) assuming the usual purchasers costs.

Fixtures & Fittings
The fixtures and fittings are currently owned by the occupational tenant.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.

Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.

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