15-17 Trinity Square & 10-14 Chipping Row South Woodham Ferrers Chelmsford Essex CM3 5JX

15-17 Trinity Square & 10-14 Chipping Row
South Woodham Ferrers
Chelmsford
Essex
CM3 5JX

Freehold Ground Rent Investment

Entirely let to Golden Homes Limited
Lease expires November 2107 (no breaks) - circa 92 years unexpired
5 yearly rent reviews geared to 22.5% of OMV (next rent review December 2017)
Sublet to various occupational tenants producing £56,750 per annum (3)
Prominent town centre location
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
4
Auction
10th December 2015
Rent
£9,225 per Annum Exclusive
Status
Sold
Price
£238,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Ground Rent Investment

Entirely let to Golden Homes Limited
Lease expires November 2107 (no breaks) - circa 92 years unexpired
5 yearly rent reviews geared to 22.5% of OMV (next rent review December 2017)
Sublet to various occupational tenants producing £56,750 per annum (3)
Prominent town centre location
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 4
Auction 10th December 2015
Rent £9,225 per Annum Exclusive
Status Sold
Price £238,000
Sector
Ground Rent
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 10 miles south of Chelmsford, 42 miles east of Central London
Roads: A12, A127, A130
Rail: South Woodham Ferrers Railway Station
Air: Stansted Airport

Situation

15 & 17 Trinity Square is situated on the southern side of Trinity Square, whilst 10, 12 and 14 Chipping Row are situated on the eastern side of the pedestrianised Chipping Row. Nearby occupiers include Asda, McDonald’s, NatWest, Santander and a number of independent retailers.

Tenure

Freehold.

Location

Miles: 10 miles south of Chelmsford, 42 miles east of Central London
Roads: A12, A127, A130
Rail: South Woodham Ferrers Railway Station
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises four shops (including a sub-post office) and one takeaway restaurant. The properties are comprised of ground floor retail with part ancillary accommodation on the second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Chipping Row 10 12 14	Ground/First Ground Ground First	Takeaway/Ancillary Beauty Salon Retail/Sub Post Office Gym/Studio	51.00 sq m 54.20 sq m 180.90 sq m 236.20 sq m	(552 sq ft) (583 sq ft) (1,947 sq ft) (2,542 sq ft)	GOLDEN HOMES LIMITED (1)	125 years from 01/12/1982 until 30/11/2107 on a full repairing and insuring lease	£9,225	01/12/2017 and five yearly thereafter (2)
Trinity Square 15 17	Ground First Ground First	Hairdresser Ancillary Retail Ancillary	37.10 sq m 41.40 sq m 41.50 sq m 39.10 sq m	(399 sq ft) (445 sq ft) (447 sq ft) (421 sq ft)	GOLDEN HOMES LIMITED (1)		£9,225	01/12/2017 and five yearly thereafter (2)
Totals			681.40 sq m	(7,336 sq ft)			£9,225

(1) For the year ending 30th April 2015, Golden Homes Limited reported a total net worth of £1,232,129 (Source: Experian Group: 05/11/2015). We understand that the property is sub-let to five tenants producing a sub-let rent of £56,750 per annum.
(2)The lease provides for 5 yearly rent reviews to the higher of rent passing or 22.5% of open market value.
(3)The subtenancy information was provided to the vendor by the tenant in October 2015. A copy of this schedule is provided in the legal pack.