2-6 Chipping Row & 10-12 Reeve Way South Woodham Ferrers Chelmsford Essex CM3 5XF

2-6 Chipping Row & 10-12 Reeve Way
South Woodham Ferrers
Chelmsford
Essex
CM3 5XF

Freehold Ground Rent Investment

Entirely let to Cosmichome Limited
Lease expires August 2106 (no breaks) circa 91 years unexpired
5 yearly rent reviews geared to 22.5% of OMV (next rent review August 2016)
Entirely sublet producing £52,000 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
36
Auction
10th December 2015
Rent
£10,476 per Annum Exclusive
Status
Sold
Price
£271,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Interested?

Expand
Photos
Map

Freehold Ground Rent Investment

Entirely let to Cosmichome Limited
Lease expires August 2106 (no breaks) circa 91 years unexpired
5 yearly rent reviews geared to 22.5% of OMV (next rent review August 2016)
Entirely sublet producing £52,000 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 36
Auction 10th December 2015
Rent £10,476 per Annum Exclusive
Status Sold
Price £271,000
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

The property comprises two shops situated on the eastern side of Chipping Row, with a further shop and restaurant/hotel both situated on the northern side of Reeves Way. Nearby occupiers include Asda, McDonalds, 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 two shops on Chipping Row comprise ground floor retail with ancillary accommodation above. 10-12 Reeves Way comprises ground floor retail. Oakland House comprises two floors with restaurant/hotel accommodation on the 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

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 2/4 6	Ground Ground	Take-Away Retail	38.30 sq m 55.30 sq m	(412 sq ft) (595 sq ft)	COSMICHOME LIMITED (1)	125 years from 07/08/1981 until 06/08/2106 on a full repairing and insuring lease	£10,476	07/08/2016 and five yearly thereafter (2)
Reeves Way 10/12	Ground	Retail	76.62 sq m	(825 sq ft)
Oakland House	First Second	Restaurant Hotel	140.90 sq m 165.46 sq m	(1,517 sq ft) (1,781 sq ft)
Totals			476.58 sq m	(5,130 sq ft)			£10,476

(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 £52,000 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.