2-6 Chipping Row & 10-12 Reeve Way South Woodham Ferrers Chelmsford Essex CM3 5XF

2-6 Chipping Row & 10-12 Reeve Way
South Woodham Ferrers
Chelmsford
Essex
CM3 5XF

Freehold Ground Rent Investment

  • Entirely let to Cosmichome Limited
  • Lease expires August 2106 (no breaks) circa 91 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (next rent review August 2016)
  • Entirely sublet producing £52,000 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
    36
  • Auction
    10th December 2015
  • Rent
    £10,476 per Annum Exclusive
  • Status
    Sold
  • Price
    £271,000
  • Sector
    Ground Rent
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

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

Freehold Ground Rent Investment

  • Entirely let to Cosmichome Limited
  • Lease expires August 2106 (no breaks) circa 91 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (next rent review August 2016)
  • Entirely sublet producing £52,000 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 36
  • Auction 10th December 2015
  • Rent
  • Status Sold
  • Price £271,000
  • 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

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.

Property Documents

  • Catalogue Page
    Updated Date
    18.11.15
    File Size
    444 KB
    View PDF
  • Site Plan
    Updated Date
    18.11.15
    File Size
    56 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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