2 & 2A Victoria Court Chelmsford Essex CM1 1GP

2 & 2A Victoria Court
Chelmsford
Essex
CM1 1GP

Modern Retail Investment

  • Two Modern Ground Floor Retail Units
  • Tenants trading as Dream Doors and Luxe Kitchens
  • Close proximity to Chelmsford High Street, Chelmsford Mainline Railway and Bus Station and Anglia Ruskin University
  • Rent: £35,500 p.a.x. (gross), £35,102 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    88
  • Auction
    13th October 2016
  • Rent
    £35,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £350,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
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  • Map

* More information on the term "guide" can be found here

Modern Retail Investment

  • Two Modern Ground Floor Retail Units
  • Tenants trading as Dream Doors and Luxe Kitchens
  • Close proximity to Chelmsford High Street, Chelmsford Mainline Railway and Bus Station and Anglia Ruskin University
  • Rent: £35,500 p.a.x. (gross), £35,102 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 88
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £350,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
37 miles north-east of Central London, 24 miles south-west of Colchester
Roads
A12, M25 (Junction 28), M11 (Junction 7)
Rail
Chelmsford Rail (35 minutes to Liverpool Street)
Air
Stansted Airport
Situation

the Victoria Road (A1099 Ring Road). New Street links Anglia Ruskin University to the north and the town centre to the south. Both the High Street and Chelmsford railway station (35 minutes to Liverpool Street) are within a short walk of the property. Nearby occupiers include Bathstore, Chelmsford Police Station and Royal Mail.

Tenure

Long Leasehold. Held from Freehold Portfolio GR Limited from 01/01/2004 until 31/12/2158 at a fixed rent of £398 p.a.

Location
Miles
37 miles north-east of Central London, 24 miles south-west of Colchester
Roads
A12, M25 (Junction 28), M11 (Junction 7)
Rail
Chelmsford Rail (35 minutes to Liverpool Street)
Air
Stansted Airport
Situation

the Victoria Road (A1099 Ring Road). New Street links Anglia Ruskin University to the north and the town centre to the south. Both the High Street and Chelmsford railway station (35 minutes to Liverpool Street) are within a short walk of the property. Nearby occupiers include Bathstore, Chelmsford Police Station and Royal Mail.

Tenure

Long Leasehold. Held from Freehold Portfolio GR Limited from 01/01/2004 until 31/12/2158 at a fixed rent of £398 p.a.

Description

The property comprises two ground floor retail units which form part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor retail units which form part of a larger building.

VAT

VAT is applicable to this lot.

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 Reversion
2 Ground Retail 81.57 sq m (878 sq ft) INDIVIDUAL t/a
Luxe Kitchens (1)
5 years from
09/08/2013
£17,000 08/08/2018
2a Ground Retail 88.63 sq m (954 sq ft) INDIVIDUAL t/a
Dream Doors (2)
5 years from
17/06/2011
£18,500 Holding over (3)
Totals     170.20 sq m (1,832 sq ft)     £35,500  

(1) Luxe Kitchens are a kitchen provider with showrooms in Chelmsford and Marble Arch, London. (Source: www.luxekitchens.co.uk 12/09/2016)
(2) Established in 1999, Dream Doors is the UK's largest kitchen facelift retailer and a multi-award winning retail franchise with 60 showrooms throughout the UK. (Source: www.dreamdoors.co.uk 12/09/2016)
(3) The Seller is in discussions with the tenant regarding a new 4 year lease at £19,000 p.a. with a rent review on the second anniversary of the term.

Property Documents

  • Catalogue Page
    Updated Date
    21.09.16
    File Size
    470 KB
    View PDF
  • Site Plan
    Updated Date
    21.09.16
    File Size
    42 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
029 2046 4347
David Farmer 029 2047 7887davidfarmer@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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