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
The subject property comprises four units (arranged as three shops) on the southern side of Trinity Square and two units immediately behind on the western side of Market Square. 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
The subject property comprises four units (arranged as three shops) on the southern side of Trinity Square and two units immediately behind on the western side of Market Square. Nearby occupiers
include Asda, McDonald’s, NatWest, Santander and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises ground floor retail (arranged as six shops) with further ancillary/office accommodation on the part first and 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
The property comprises ground floor retail (arranged as six shops) with further ancillary/office accommodation on the part first and 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.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reviews
1/3
Ground First Second
Pet Shop Offices Photo Studio
54.99 sq m 65.10 sq m 49.80 sq m
(592 sq ft) (700 sq ft) (536 sq ft)
COSMICHOME LIMITED (1)
125 years from 07/08/1981 until 06/08/2106 on a full repairing and insuring lease
£11,624
07/08/2016 and five yearly thereafter (2)
7
Ground First
Charity Shop Ancillary
35.80 sq m 56.90 sq m
(385 sq ft) (612 sq ft)
9
Ground First
Retail Residential
33.60 sq m -
(362 sq ft) -
11
Ground
Retail
42.30 sq m
(455 sq ft)
13
Ground Second
Retail/Offices Offices
40.70 sq m -
(438 sq ft) -
Total Commercial Area
379.04 sq m
(4,080 sq ft)
£11,624
(1) For the year ending 30th September 2014, Cosmichome Limited reported a turnover of £7,467,933, pre-tax profits of £43,209,660 and a total net worth of £56,808,703 (Source: Experian Group 05/11/2015). We understand that the property is sub-let producing a sub-let rent of £46,390 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 June 2015. A copy of this schedule is provided in the legal pack.
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