15-17 Trinity Square & 10-14 Chipping Row South Woodham Ferrers Chelmsford Essex CM3 5JX

15-17 Trinity Square & 10-14 Chipping Row
South Woodham Ferrers
Chelmsford
Essex
CM3 5JX

Freehold Ground Rent Investment

  • Entirely let to Golden Homes Limited
  • Lease expires November 2107 (no breaks) - circa 92 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (next rent review December 2017)
  • Sublet to various occupational tenants producing £56,750 per annum (3)
  • Prominent town centre location
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    4
  • Auction
    10th December 2015
  • Rent
    £9,225 per Annum Exclusive
  • Status
    Sold
  • Price
    £238,000
  • Sector
    Ground Rent
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Ground Rent Investment

  • Entirely let to Golden Homes Limited
  • Lease expires November 2107 (no breaks) - circa 92 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (next rent review December 2017)
  • Sublet to various occupational tenants producing £56,750 per annum (3)
  • Prominent town centre location
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 4
  • Auction 10th December 2015
  • Rent
  • Status Sold
  • Price £238,000
  • Sector
    Ground Rent
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles south of Chelmsford, 42 miles east of Central London
Roads
A12, A127, A130
Rail
South Woodham Ferrers Railway Station
Air
Stansted Airport
Situation

15 & 17 Trinity Square is situated on the southern side of Trinity Square, whilst 10, 12 and 14 Chipping Row are situated on the eastern side of the pedestrianised Chipping Row. Nearby occupiers include Asda, McDonald’s, NatWest, Santander and a number of independent retailers.

Tenure

Freehold.

Location
Miles
10 miles south of Chelmsford, 42 miles east of Central London
Roads
A12, A127, A130
Rail
South Woodham Ferrers Railway Station
Air
Stansted Airport
Situation

15 & 17 Trinity Square is situated on the southern side of Trinity Square, whilst 10, 12 and 14 Chipping Row are situated on the eastern side of the pedestrianised Chipping Row. Nearby occupiers include Asda, McDonald’s, NatWest, Santander and a number of independent retailers.

Tenure

Freehold.

Description

The property comprises four shops (including a sub-post office) and one takeaway restaurant. The properties are comprised of ground floor retail with part ancillary accommodation on the second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 four shops (including a sub-post office) and one takeaway restaurant. The properties are comprised of ground floor retail with part ancillary accommodation on the second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

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. Reviews
Chipping Row
10
12
14

Ground/First
Ground
Ground
First

Takeaway/Ancillary
Beauty Salon
Retail/Sub Post Office
Gym/Studio

51.00 sq m
54.20 sq m
180.90 sq m
236.20 sq m

(552 sq ft)
(583 sq ft)
(1,947 sq ft)
(2,542 sq ft)
GOLDEN
HOMES
LIMITED (1)
125 years from
01/12/1982 until
30/11/2107 on a
full repairing
and insuring
lease
£9,225 01/12/2017
and five
yearly
thereafter (2)
Trinity Square
15

17

Ground
First
Ground
First

Hairdresser
Ancillary
Retail
Ancillary

37.10 sq m
41.40 sq m
41.50 sq m
39.10 sq m

(399 sq ft)
(445 sq ft)
(447 sq ft)
(421 sq ft)
Totals    
681.40 sq m
(7,336 sq ft)
    £9,225  

(1) For the year ending 30th April 2015, Golden Homes Limited reported a total net worth of £1,232,129 (Source: Experian Group: 05/11/2015). We understand that the property is sub-let to five tenants producing a sub-let rent of £56,750 per annum.
(2)The lease provides for 5 yearly rent reviews to the higher of rent passing or 22.5% of open market value.
(3)The subtenancy information was provided to the vendor by the tenant in October 2015. A copy of this schedule is provided in the legal pack.

Property Documents

  • Catalogue Page
    Updated Date
    17.11.15
    File Size
    480 KB
    View PDF
  • Site Plan
    Updated Date
    17.11.15
    File Size
    59 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate AuctioneersHugo Watts +44 20 7861 1714hugo.watts@knightfrank.com
Seller's Solicitors
Pinsent Masons LLP The Soloist, 1 Lanyon Place
Belfast
Ireland
BT1 3LP
Joanna Robinson 02890 894946joanna.robinson@pinsentmasons.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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