Freehold Bank and Ground Rent Investment (plus Vacant Flat and Office)
Predominantly let to Bank of Scotland Plc on Renewed Lease
Includes Vacant Flat and Recent Planning Permission for conversion of vacant first floor
office to a two-bed flat
Grade II Listed Building (No Empty Rates)
Excellent trading location on High Street close to Marks & Spencer Simply Food, Boots
the Chemist, Costa Coffee, Barclays Bank and Superdrug
Affluent and historic Essex Town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 48
Auction 8th December 2016
Rent £24,775 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
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 High Street, close to its junction with Market Hill, in the heart of Maldon town centre. Nearby occupiers include Boots the Chemist, Marks & Spencer Simply Food, Barclays Bank, Superdrug, Costa Coffee 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 High Street, close to its junction with Market Hill, in the heart of Maldon town centre. Nearby occupiers include Boots the Chemist, Marks & Spencer Simply Food, Barclays Bank, Superdrug, Costa Coffee and a number of independent restaurants and bars.
Tenure
Freehold.
Description
The property, a Grade II listed building, comprises two retail units on the ground floor (part let on a long lease), a self-contained one bed flat and a self-contained office on the first floor (with Planning
to convert to a 2-bed flat) and a further flat on the second floor, let on a long lease. The property also benefits from four car parking spaces to the rear, two of which are offered with vacant possession.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 19/09/2016 for conversion of the first floor office space at 52a High Street into a 2 bedroom apartment. Please refer to Maldon District Council Planning.
Reference: LBC/MAL/16/00721 Tel: 01621 854477 (https://www.maldon.gov.uk)
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II listed building, comprises two retail units on the ground floor (part let on a long lease), a self-contained one bed flat and a self-contained office on the first floor (with Planning
to convert to a 2-bed flat) and a further flat on the second floor, let on a long lease. The property also benefits from four car parking spaces to the rear, two of which are offered with vacant possession.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 19/09/2016 for conversion of the first floor office space at 52a High Street into a 2 bedroom apartment. Please refer to Maldon District Council Planning.
Reference: LBC/MAL/16/00721 Tel: 01621 854477 (https://www.maldon.gov.uk)
Completion Period
Six Week Completion
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
Review/ (Reversion)
52a High Street
Ground
Banking Hall/ Ancillary
178.65 sq m
(1,923 sq ft)
BANK OF SCOTLAND PLC (1) (t/a Halifax)
10 years from 15/11/2013 (2)
£24,525
15/11/2018 (14/11/2023)
52 High Street
Ground (including 1 car parking space)
Retail/ Ancillary
-
-
D. DAVEY & R. LOUISE
125 years from 29/09/2001
£150
(28/9/2126)
52a High Street
First
Offices (see “Planning” section)
51.00 sq m
(549 sq ft)
VACANT
-
-
-
52b High Street
First
One Bedroom Flat
-
(-)
VACANT
-
-
-
52 White Horse Lane
Second (including 1 car parking space)
Two Bedroom Flat
-
(-)
AN INDIVIDUAL
125 years from 25/4/2002
£100
(24/04/2127)
Total Commercial Area (not including 52 High Street)
229.65 sq m
(2,472 sq ft)
£24,775
(1) For the year ending 31st December 2015, Bank of Scotland Plc reported pre-tax profits of £2,653,000,000 and a total net worth of £14,692,000,000 (Source: Experian Group 02/11/2016). (2) The lease provides for a tenant break option on 15th November 2018.
