66 - 70 High Street Braintree Essex CM7 1JP

66 - 70 High Street
Braintree
Essex
CM7 1JP

Freehold Retail Investment

  • Let to Costa Limited and Specsavers Optical Superstores Limited
  • Prominent town centre location on busy retailing thoroughfare
  • Close proximity to the George Yard Shopping Centre
  • Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, New Look, Holland & Barrett and Vision Express
  • Grade II Listed
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    27
  • Auction
    13th October 2016
  • Rent
    £51,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £815,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Costa Limited and Specsavers Optical Superstores Limited
  • Prominent town centre location on busy retailing thoroughfare
  • Close proximity to the George Yard Shopping Centre
  • Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, New Look, Holland & Barrett and Vision Express
  • Grade II Listed
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 27
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £815,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE

Property Information

Location
Miles
10 miles north of Chelmsford, 15 miles west of Colchester, 20 miles east of Harlow
Roads
A120, A12, M11 (Junction 8)
Rail
Braintree Railway Station (Approx 1 hour to London Liverpool Street)
Air
London Stansted Airport
Situation

The property is situated in a prominent retailing position in the heart of Braintree town centre on the south side of the High Street at its junction with Great Square and Bank Street. The property is close to George Yard Shopping Centre which houses retailers including Boots the Chemist, WH Smith, Superdrug and Cooperative Department Store. Other nearby occupiers include New Look, Holland & Barrett and Vision Express.

Tenure

Freehold.

Location
Miles
10 miles north of Chelmsford, 15 miles west of Colchester, 20 miles east of Harlow
Roads
A120, A12, M11 (Junction 8)
Rail
Braintree Railway Station (Approx 1 hour to London Liverpool Street)
Air
London Stansted Airport
Situation

The property is situated in a prominent retailing position in the heart of Braintree town centre on the south side of the High Street at its junction with Great Square and Bank Street. The property is close to George Yard Shopping Centre which houses retailers including Boots the Chemist, WH Smith, Superdrug and Cooperative Department Store. Other nearby occupiers include New Look, Holland & Barrett and Vision Express.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with ancillary accommodation on the first and second floors. The property benefits from a rear yard with pedestrian access from a passageway fronting the High Street and vehicle access from St Michael’s Lane to the rear

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 with ancillary accommodation on the first and second floors. The property benefits from a rear yard with pedestrian access from a passageway fronting the High Street and vehicle access from St Michael’s Lane to the rear

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 Review/(Reversion)
66 Ground
First
Retail/Ancillary
Ancillary
153.50 sq m
32.00 sq m
(1,652 sq ft)
(344 sq ft)
COSTA LIMITED (1) 10 years from
25/12/2011 (2 )
£25,000 25/12/2016
(24/12/2021)
68-70 Ground
First
Second
Retail/Ancillary
Office/Ancillary
Ancillary
130.24 sq m
74.67 sq m
31.33 sq m
1,402 sq ft)
(804 sq ft)
(337 sq ft)
SPECSAVERS
OPTICAL
SUPERSTORES
LIMITED (3)
10 years from
25/03/2012 (4)
£26,000 25/03/2017
(24/03/2022)
Total     421.74 sq m (4,539 sq ft)     £51,000  

(1) For the year ending 26th February 2015, Costa Limited reported a turnover of £735,974,000, pre-tax profits of £127,221,000 and a total net worth of £444,814,000 (Source: Experian Group 07/09/2016).
(2) The lease is subject to a tenant option to determine on 25th December 2016, on providing three months prior notice.
(3) For the year ending 28th February 2015, Specsavers Optical Superstores Limited reported a turnover of £433,826,000, pre-tax profits of £20,398,000 and a total net worth of £54,568,000 (Source: Experian Group 07/09/2016).
(4) The lease is subject to a tenant option to determine on 25th March 2017, on providing six months prior notice.

Property Documents

  • Catalogue Page
    Updated Date
    13.11.19
    File Size
    460 KB
    View PDF
  • Site Plan
    Updated Date
    13.11.19
    File Size
    96 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
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

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

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now