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
The property comprises two shops situated on the eastern side of Chipping Row, with a further shop and restaurant/hotel both situated on the northern side of Reeves Way. Nearby occupiers include Asda, McDonalds, 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
The property comprises two shops situated on the eastern side of Chipping Row, with a further shop and restaurant/hotel both situated on the northern side of Reeves Way. Nearby occupiers include Asda, McDonalds, Natwest, Santander and a number of independent retailers.
Tenure
Freehold.
Description
The two shops on Chipping Row comprise ground floor retail with ancillary accommodation above. 10-12 Reeves Way comprises ground floor retail. Oakland House comprises two floors with restaurant/hotel accommodation on the first and 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 two shops on Chipping Row comprise ground floor retail with ancillary accommodation above. 10-12 Reeves Way comprises ground floor retail. Oakland House comprises two floors with restaurant/hotel accommodation on the first and 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 2/4 6
Ground Ground
Take-Away Retail
38.30 sq m 55.30 sq m
(412 sq ft) (595 sq ft)
COSMICHOME LIMITED (1)
125 years from 07/08/1981 until 06/08/2106 on a full repairing and insuring lease
£10,476
07/08/2016 and five yearly thereafter (2)
Reeves Way 10/12
Ground
Retail
76.62 sq m
(825 sq ft)
Oakland House
First Second
Restaurant Hotel
140.90 sq m 165.46 sq m
(1,517 sq ft) (1,781 sq ft)
Totals
476.58 sq m
(5,130 sq ft)
£10,476
(1) For the year ending 30th September 2014, Cosmichome Limited reported a turnover of £7,467,933, pre-tax profits of £43,209,660 and a total net worth of £56,808,703 (Source: Experian Group 05/11/2015). We understand that the property is sub-let producing a sub-let rent of £52,000 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 June 2015. A copy of this schedule is provided in the legal pack.