73 and 73A High Street Brentwood Essex CM14 4RW

73 and 73A High Street
Brentwood
Essex
CM14 4RW

Freehold Retail and Residential Investment with Majority Vacant Possession

Two retail units and two residential flats
Strategic High Street location with council car park located to the rear
Close to Baytree Shopping Centre
Planning permission for 3 storey building providing 2 retail units and 4 residential flats
Nearby occupiers include Barclays Bank, Boots, New Look, Dorothy Perkins, Starbucks and Superdrug

Lot
52
Auction
22nd May 2014
Rent
£12,000 per Annum Exclusive
Status
Sold
Price
£710,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment with Majority Vacant Possession

Two retail units and two residential flats
Strategic High Street location with council car park located to the rear
Close to Baytree Shopping Centre
Planning permission for 3 storey building providing 2 retail units and 4 residential flats
Nearby occupiers include Barclays Bank, Boots, New Look, Dorothy Perkins, Starbucks and Superdrug

Lot 52
Auction 22nd May 2014
Rent £12,000 per Annum Exclusive
Status Sold
Price £710,000
Sector
Development
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 12 miles south-west of Chelmsford, 30 miles north-east of Central London
Roads: A12, A127, M25 (Junction 28)
Rail: Brentwood Rail Station
Air: London City and London Stansted Airports

Situation

The property is situated in a prominent location on the northern side of the High Street close to the Baytree Shopping Centre which houses retailers such as WH Smith, The Body Shop, Claire’s Accessories and Wilkinsons. The William Hunter Way Council Car Park providing spaces for 379 cars, is located to the rear of the property. Other nearby occupiers include Barclays Bank, Boots, New Look, Dorothy Perkins, Starbucks and Superdrug.

Tenure

Freehold.

Location

Miles: 12 miles south-west of Chelmsford, 30 miles north-east of Central London
Roads: A12, A127, M25 (Junction 28)
Rail: Brentwood Rail Station
Air: London City and London Stansted Airports

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units with two self contained residential flats above (1 x two bed and 1 x three bed). The property benefits from a small yard to the rear and an alleyway to the side which provides access from the William Hunter Way Council Car Park (379 spaces) to the High Street and is included in the title.

Planning
Planning permission has been granted for the demolition of the existing buildings and the erection of a 3 storey building to provide two retail units and 4 residential apartments. For further information please go to Brentwood Borough Council (http://publicaccess.brentwood.gov.uk/online-applications/
Ref: 12/00180/EXT)

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

No	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
73	Ground	Retail	274.43 sq m	(2,954 sq ft)	B STAR LIMITED t/a Brand Choice	2 years from 01/08/2012 (1) (2)	£12,000	31/07/2014
73	Ground	Retail/ Storage	147.81 sq m	(1,591 sq ft)	VACANT POSSESSION	-	-	-
73	First	Residential	Not Measured		VACANT POSSESSION	-	-	-
73A	First	Residential	Not Measured		VACANT POSSESSION	-	-	-
Total Commercial Floor Area			422.24 sq m	(4,545 sq ft)			£12,000

(1) B Star Limited does not have the benefit of security of tenure under the Landlord & Tenant Act 1954.
(2)The lease provides an option to determine on any date falling after 31st December 2012 on one month’s notice. The option is conditional on all rents being paid up to date and there being no outstanding breaches of the covenants in the lease.
NB. With regard to the fruit and vegetable stall outside the property, the former Licensee has remained in occupation after the expiry of the licence period with no licence fee being accepted by the Seller in respect of any period after expiry of the Licence. On that basis, the Seller considers them to be occupying as bare Licensees. No warranty will however be given by the Seller in this regard.