"Pasha", 138 High Street, Billericay, CM12 9DF

INCOME-PRODUCING RESTAURANT PREMISES WITH CONSIDERABLE DEVELOPMENT POTENTIAL (stp)

ON A SITE OF C.0.516 ACRES (0.209 HECTARES)

The Property comprises a substantial 2½-storey Grade II Listed building with later additions and outbuildings, currently trading as the “Pasha” Restaurant.  The building benefits from a significant car parking area currently accessed from the High Street.  There is further frontage to Sun Street to the South of the property and a further area of unmade land adjacent to Stanley Terrace to the East of the property.

The premises originally comprised a ground floor restaurant/public house, kitchen and customer facilities, together with substantial residential upper parts over two floors.  There are two external stores.

The current tenant has carried out extensive renovation to the commercial elements of the building including building a two-storey addition to the rear providing additional restaurant and bar accommodation.

Location

The Property is situated towards the Southern end of the High Street, Billericay.  Billericay is a popular commuter town situated between the larger towns of Basildon and Brentwood.  The town has a resident population of c.24,000*.  The High Street benefits from a wide range of shopping, service providers and leisure operators including Tesco, WH Smiths, Boots the Chemist, and Costa Coffee.

(* Basildon Council, 2018)

Terms

The property is for sale freehold subject to a lease to two individuals for a term of 20 years from 26 March 2002 thus expiring on 25 March 2022.  The lease is drawn on fully repairing and insuring  terms.  The passing rent is £37,XXXa under a tied lease.  There is the opportunity to re-gear the rent on a non-tied basis at renewal.

Specification

• Significant potential for further development, subject to Planning and other Consents
• Currently income-producing

Accommodation Grid