Entirely let to Secretary of State for Communities and Local Government
Approximately 2,039.40 sq m (21,953 sq ft) let on two leases (renewals) from 2014
Re-based Rents
Strategically located close to A12
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 10
Auction 7th July 2016
Rent £358,924 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On Behalf of CBRE
Property Information
Location
Miles
20 miles north-east of Romford, 38 miles north-east of Central London
Roads
A12, A130, A414, A4060
Air
London Stansted Airport
Situation
The property is situated within the established Hedgerows Business Park in the Springfield district of Chelmsford. The business park is strategically located being adjacent to the A130, which connects to the A12, an arterial route connecting Central London with Colchester. Chelmsford Station is located about 2 miles away. Other occupiers on the business park include Mercedes Benz Chelmsford, NHS England, Skills Funding Agency, Scottish Equitable Plc and Glyn Hopkin Honda Chelmsford. Other occupiers in the area include Sainsbury's Supermarket, Aldi, Barratt Homes, Parcelforce and B&Q.
Tenure
Freehold.
Location
Miles
20 miles north-east of Romford, 38 miles north-east of Central London
Roads
A12, A130, A414, A4060
Air
London Stansted Airport
Situation
The property is situated within the established Hedgerows Business Park in the Springfield district of Chelmsford. The business park is strategically located being adjacent to the A130, which connects to the A12, an arterial route connecting Central London with Colchester. Chelmsford Station is located about 2 miles away. Other occupiers on the business park include Mercedes Benz Chelmsford, NHS England, Skills Funding Agency, Scottish Equitable Plc and Glyn Hopkin Honda Chelmsford. Other occupiers in the area include Sainsbury's Supermarket, Aldi, Barratt Homes, Parcelforce and B&Q.
Tenure
Freehold.
Description
The property comprises an office building arranged on the ground, first and second floors. The property is mainly open plan and benefits from suspended ceilings, raised flooring, VRV air conditioning and kitchen facilities on each floor. There is car parking for approximately 88 cars which provides a car parking ratio of 1:249 sq ft. The approximate site area is 1.189 acres equating to a low site coverage of 18.36%.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability
NB: As to the VAT status please refer to the special conditions.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an office building arranged on the ground, first and second floors. The property is mainly open plan and benefits from suspended ceilings, raised flooring, VRV air conditioning and kitchen facilities on each floor. There is car parking for approximately 88 cars which provides a car parking ratio of 1:249 sq ft. The approximate site area is 1.189 acres equating to a low site coverage of 18.36%.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability
NB: As to the VAT status please refer to the special conditions.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
Completion Period
Six Week Completion
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
Reversion
Ground
Office/Reception
691.70 sq m
(7,445 sq ft)
SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT
5 years from 10/01/2014
£119,955
09/01/2019
First Second
Office Office
675.00 sq m 672.70 sq m
(7,266 sq ft) (7,241 sq ft)
SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT
5 years from 10/01/2014
£238,969
09/01/2019
Totals
2,039.40 sq m
(21,952 sq ft)
£358,924
(1) The tenant is proposing to improve their utilisation of the premises by sharing the ground and first floor space with a small number of Central Government Departments. The tenant has applied for Landlord consent to undertake alterations to make this possible. Draft licences have been agreed by the Receivers. Please refer to the legal pack for further information.
Contacts
Seller's Solicitors
Trowers & Hamlins The Senate, Southernhay Gardens Exeter EX1 1UG
