Let to Budgens Stores Limited and Taylor Viney & Marlow Chartered Accountants
Leases expire in 2022 (with Budgens option to extend)
Approximately 1,307.57 sq m (14,075 sq ft) with car park to the rear
Potential future conversion of upper parts (subject to lease and consents)
Prosperous Essex commuter town
Lot 30
Auction 23rd October 2014
Rent £135,500 per Annum Exclusive
Status Sold
Price £2,020,000
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
5 miles north-east of Brentwood
6 miles south-west of Chelmsford
25 miles north-east of Central London
Roads
A12, A414, M25 (junction 28)
Rail
Ingatestone Railway Station (29 mins direct to London Liverpool Street)
Air
London Stansted Airport
Situation
Ingatestone is a prosperous and attractive town situated off the A12, an arterial
route between Chelmsford to the north-east and Brentwood to the south-west.
The property is prominently situated on the north side of High Street, close to
its junction with Fryerning Lane. Nearby occupiers include Co-operative Supermarket, Barclays and Santander Banks and a range of independent retailers.
Tenure
Freehold.
Location
Miles
5 miles north-east of Brentwood
6 miles south-west of Chelmsford
25 miles north-east of Central London
Roads
A12, A414, M25 (junction 28)
Rail
Ingatestone Railway Station (29 mins direct to London Liverpool Street)
Air
London Stansted Airport
Situation
Ingatestone is a prosperous and attractive town situated off the A12, an arterial
route between Chelmsford to the north-east and Brentwood to the south-west.
The property is prominently situated on the north side of High Street, close to
its junction with Fryerning Lane. Nearby occupiers include Co-operative Supermarket, Barclays and Santander Banks and a range of independent retailers.
Tenure
Freehold.
Description
The property comprises a supermarket arranged on the ground floor and basement with self-contained office accommodation on the first and second
floors, accessed from the front. The property benefits from a significant frontage to High Street and a car park to the rear for approximately 21 cars,
accessed via Haslers Court.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a supermarket arranged on the ground floor and basement with self-contained office accommodation on the first and second
floors, accessed from the front. The property benefits from a significant frontage to High Street and a car park to the rear for approximately 21 cars,
accessed via Haslers Court.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Supermarket Ancillary
455.67 sq m 262.35 sq m
(4,905 sq ft) (2,824 sq ft)
BUDGENS STORES LIMITED (1)
16 years from 17/03/2006 until 2022 on a full repairing and insuring lease (2)
£73,000
17/03/2016
First Second
Offices Offices
316.05 sq m 273.50 sq m
(3,402 sq ft) (2,944 sq ft)
TAYLOR VINEY & MARLOW CHARTERED ACCOUNTANTS (3)
10 years from 25/12/2012 until 2022 on a full repairing and insuring lease
£62,500
25/12/2017
Totals
1,307.57 sq m
(14,075 sq ft)
£135,500
(1) Budgens was founded in 1982 and is one of the oldest supermarket brands in Great Britain. In 2002, Budgens became part of the Musgrave Group and today has over 190 stores nationwide. (Source: www.budgens.co.uk). For the year ending 31/12/2012, Budgens Stores Limited reported a total net worth of £36,942,000. (Source: www.riskdisk.co.uk 23/09/2014). The tenant has sublet the ground floor and basement to Beckwith Retail Limited with a personal guarantee. (2)The lease provides for a tenant option to extend the lease for a further 10 years on the 17th March 2016. (3)Taylor Viney & Marlow is an independent firm of Chartered Accountants established in 1973 with offices in both Ingatestone and Leigh-on-Sea. (Source: www.tvmaccounts.co.uk)
