Tenancy & Accommodation
| Address |
Floor |
Use |
Floor Areas
Approx sq m (1) |
Floor Areas
Approx sq ft (1) |
Tenant |
Term |
Rent p.a.x. |
173 High Street
(2 car parking spaces) |
Ground
Basement |
Retail/Ancillary
Ancillary |
53.40
59.20 |
(575)
(637) |
L. NICOLE (t/a North Essex Support) (2) |
6 month licence from 01/10/2023 (3) |
- |
175 High Street
(1 car parking space) |
Ground
Basement |
Retail/Ancillary
Ancillary |
53.40
59.20 |
(575)
(637) |
SCRIVENS LIMITED (4) |
10 years until 25/12/2016 (Holding Over) |
£11,500 |
177 High Street
(1 car parking space) |
Ground
Basement |
Retail/Ancillary
Ancillary |
36.66
41.80 |
(394)
(450) |
ATERES YEHUDAH TRUST (5) |
2 years from 01/10/2023 |
£5,200 |
| 179 High Street (Flat 4) |
First |
Residential flat |
- |
(-) |
AN INDIVIDUAL |
153 years from 04/05/2021 |
£50 |
| 181 High Street (Flat 3) |
First |
Residential flat |
- |
(-) |
AN INDIVIDUAL |
124 years from 18/03/2014 |
£50 |
| 183 High Street (Flat 1) |
Second |
Residential flat and Garage |
- |
(-) |
AN INDIVIDUAL |
99 years from 25/03/1983 (approximately 58 years unexpired) |
£50 |
| 185 High Street (Flat 2) |
Second |
Residential - 2 bed flat |
70.00 |
(753) |
AN INDIVIDUAL |
Rolling periodic AST from April 2022 at £700 pcm |
£8,400 |
| Total |
|
|
373.66 |
(4,021) |
|
|
£25,250 |
(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) North Essex Support Trust is a registered charity, incorporated in 2006, that helps struggling families and individuals in the Essex community (www.nestassist.co.uk)
(3) The property is let by way of a 6 month licence from October 2023. The licence is subject to a landlord option to break on 01/01/2024. The vendor received an offer to rent the shop (dated 15/08/2023) from a luxury hair salon, Brown and White Limited, for a term of 5 years, with a tenant break after 18 months, at £8,400 p.a.x. Brown and White have recently re-confirmed their interest to lease the shop but want to wait until later this year before potentially proceeding. Brown & White Limited trade from 5 stores in locations such as Colchester and Chelmsford (www.brown-and-white.co.uk)
(4) For the year ending 30th October 2022, Scrivens Limited traded from over 150 branches in the UK, and reported a turnover of £47,834,646, a pre-tax profit of £4,152,319 and a net worth of £10,697,118 (www.northrow.com). Scrivens have previously indicated that they may wish to extend into the adjacent shop and negotiate a new lease.
(5) Ateres Yehudah Trust intend to take occupation shortly and will use the shop for storage purposes. They provide charitable donations for the relief of poverty and were incorporated in June 2000 (www.register-of-charities.charitycommission.gov.uk). For the year ending 31/03/2022, Ateres Yehudah Trust reported an income of £181,370 and net assets of £3,532,000.
