Town centre location close to Prezzo, JD Wetherspoon and Marks and Spencer Simply Food
Affluent and historic Essex town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 10
Auction 23rd March 2016
Rent £68,400 per Annum Exclusive
Status Sold Post
Price
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
10 miles east of Chelmsford, 20 miles south-west of Colchester,50 miles north-east Central London
Roads
A12, A414
Air
London Stansted Airport
Situation
The property occupies a prominent position on the southern side of the High Street, opposite its junction with Butt Lane, in the heart of Maldon town centre. Nearby occupiers include Prezzo, JD
Wetherspoon, Marks & Spencer Simply Food, Boots the Chemist, WH Smith, Superdrug and a number of independent restaurants and bars.
Tenure
Freehold.
Location
Miles
10 miles east of Chelmsford, 20 miles south-west of Colchester,50 miles north-east Central London
Roads
A12, A414
Air
London Stansted Airport
Situation
The property occupies a prominent position on the southern side of the High Street, opposite its junction with Butt Lane, in the heart of Maldon town centre. Nearby occupiers include Prezzo, JD
Wetherspoon, Marks & Spencer Simply Food, Boots the Chemist, WH Smith, Superdrug and a number of independent restaurants and bars.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with basement and terrace area, with five residential flats arranged over the first and second floors. In addition, there is car parking for 6 cars to the rear of the property.
Six Week Completion
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 ground floor restaurant with basement and terrace area, with five residential flats arranged over the first and second floors. In addition, there is car parking for 6 cars to the rear of the property.
Six Week Completion
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
Review/(Reversion)
Ground Basement
Restaurant Ancillary
204.50 sq m 32.05 sq m
(2,201 sq ft) (345 sq ft)
R COMPTON AND H KOSECOMPTON (1) (t/a Intimo)
25 years from 27/06/2008
£30,000 rising to a minimum of £35,000 in 2018 (2)
27/06/2018 and five yearly thereafter (26/06/2033)
Flat 1 – First (including One Car Parking Space)
Residential
Two Bedroom Flat
AN INDIVIDUAL
AST for 12 months from 17/09/2015
£9,000 (3)
(16/09/2016)
Flat 2 – First (including One Car Parking Space)
Residential
One Bedroom Flat
AN INDIVIDUAL
AST for 12 months from 4/09/2015
£8,100 (3)
(03/09/2016)
Flat 3 – Second (including One Car Parking Space)
Residential
One Bedroom Flat
TWO INDIVIDUALS
AST for 12 months from 09/11/2015
£7,800 (3)
(08/11/2016)
Flat 4 – Second (including One Car Parking Space)
Residential
One Bedroom Flat
TWO INDIVIDUALS
AST for 12 months from 19/10/2015
£6,900 (3)
(18/10/2016)
Flat 5 – Second (including One Car Parking Space)
Residential
One Bedroom Flat
AN INDIVIDUAL
AST for 12 months from 19/10/2015
£6,600 (3)
(03/03/2017)
Car Parking Space
VACANT POSSESSION
Total Commercial Area
236.55 sq m
(2,546 sq ft)
£68,400
(1) A rent deposit of £15,164.47 (inclusive of VAT and accrued interest) is held by the vendor. (2) The rent is reviewed to OMV subject to a minimum rental increase to £35,000 per annum exclusive. (3) Annual equivalent rent.
