7-9 Chipping Row & 20-26 Heralds Way South Woodham Ferrers Chelmsford Essex CM3 5TQ

7-9 Chipping Row & 20-26 Heralds Way
South Woodham Ferrers
Chelmsford
Essex
CM3 5TQ

Freehold Ground Rent Investment

  • Entirely let to B. J.’s of Woodham Limited
  • Lease expires October 2109 (No breaks) - circa 94 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (Next rent review October 2019)
  • Sublet to various occupational tenants producing £65,410 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
    29
  • Auction
    10th December 2015
  • Rent
    £15,187 per Annum Exclusive
  • Status
    Sold
  • Price
    £330,000
  • 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 B. J.’s of Woodham Limited
  • Lease expires October 2109 (No breaks) - circa 94 years unexpired
  • 5 yearly rent reviews geared to 22.5% of OMV (Next rent review October 2019)
  • Sublet to various occupational tenants producing £65,410 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 29
  • Auction 10th December 2015
  • Rent
  • Status Sold
  • Price £330,000
  • 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 a terrace of four units fronting the eastern side of Heralds Way and three units (arranged as two shops) fronting the western side of 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

The property comprises a terrace of four units fronting the eastern side of Heralds Way and three units (arranged as two shops) fronting the western side of Chipping Row. Nearby occupiers include Asda, McDonald’s, NatWest, Santander and a number of independent retailers.

Tenure

Freehold.

Description

The property comprises seven retail units on the ground and part first floors, with 8 flats on the part first/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 seven retail units on the ground and part first floors, with 8 flats on the part first/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

No. Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review
Chipping Row
5/7
9

Ground
Ground

Retail
Barber

47.75 sq m
55.30 sq m

(514 sq ft)
(595 sq ft)
B.J.’S OF
WOODHAM
LIMITED (1)
125 years from
12/10/1984 until
11/10/2109 on a full
repairing and
insuring lease
£15,187.50 12/10/2019 and
five yearly
thereafter (2)
Heralds Way
20
22
24
26
Flats

Ground
Ground/First
Ground
Ground
First/Second

Retail
Vacant
Takeaway
Takeaway
Residential

40.40 sq m
16.59 sq m
52.46 sq m
37.52 sq m
8 Flats

(435 sq ft)
(179 sq ft)
(565 sq ft)
(404 sq ft)
Total Commercial Area  
250.07 sq m
(2,692 sq ft)
    £15,187.50  

(1) For the year ending 31st October 2014, B.J.’s of Woodham Limited reported a net worth of £413,228 (Source: Experian Group 05/11/2015). We understand that the property is sublet to various occupational tenants producing a sub-let rent of £65,410 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 August 2015. A copy of this schedule is provided in the legal pack.

Property Documents

  • Site Plan
    Updated Date
    17.11.15
    File Size
    61 KB
    View PDF
  • Catalogue Page
    Updated Date
    17.11.15
    File Size
    617 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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