2 & 2A Victoria Court Chelmsford Essex CM1 1GP

2 & 2A Victoria Court
Chelmsford
Essex
CM1 1GP

Modern Retail Investment

Two Modern Ground Floor Retail Units
Tenants trading as Dream Doors and Luxe Kitchens
Close proximity to Chelmsford High Street, Chelmsford Mainline Railway and Bus Station and Anglia Ruskin University
Rent: £35,500 p.a.x. (gross), £35,102 p.a.x. (net)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
88
Auction
13th October 2016
Rent
£35,500 per Annum Exclusive
Status
Sold
Price
£350,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Modern Retail Investment

Two Modern Ground Floor Retail Units
Tenants trading as Dream Doors and Luxe Kitchens
Close proximity to Chelmsford High Street, Chelmsford Mainline Railway and Bus Station and Anglia Ruskin University
Rent: £35,500 p.a.x. (gross), £35,102 p.a.x. (net)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 88
Auction 13th October 2016
Rent £35,500 per Annum Exclusive
Status Sold
Price £350,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 37 miles north-east of Central London, 24 miles south-west of Colchester
Roads: A12, M25 (Junction 28), M11 (Junction 7)
Rail: Chelmsford Rail (35 minutes to Liverpool Street)
Air: Stansted Airport

Situation

the Victoria Road (A1099 Ring Road). New Street links Anglia Ruskin University to the north and the town centre to the south. Both the High Street and Chelmsford railway station (35 minutes to Liverpool Street) are within a short walk of the property. Nearby occupiers include Bathstore, Chelmsford Police Station and Royal Mail.

Tenure

Long Leasehold. Held from Freehold Portfolio GR Limited from 01/01/2004 until 31/12/2158 at a fixed rent of £398 p.a.

Location

Miles: 37 miles north-east of Central London, 24 miles south-west of Colchester
Roads: A12, M25 (Junction 28), M11 (Junction 7)
Rail: Chelmsford Rail (35 minutes to Liverpool Street)
Air: Stansted Airport

Situation

Tenure

Long Leasehold. Held from Freehold Portfolio GR Limited from 01/01/2004 until 31/12/2158 at a fixed rent of £398 p.a.

Description

The property comprises two ground floor retail units which form part of a larger building.

VAT

VAT is applicable to this lot.

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 which form part of a larger building.

VAT

VAT is applicable to this lot.

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	Reversion
2	Ground	Retail	81.57 sq m	(878 sq ft)	INDIVIDUAL t/a Luxe Kitchens (1)	5 years from 09/08/2013	£17,000	08/08/2018
2a	Ground	Retail	88.63 sq m	(954 sq ft)	INDIVIDUAL t/a Dream Doors (2)	5 years from 17/06/2011	£18,500	Holding over (3)
Totals			170.20 sq m	(1,832 sq ft)			£35,500

(1) Luxe Kitchens are a kitchen provider with showrooms in Chelmsford and Marble Arch, London. (Source: www.luxekitchens.co.uk 12/09/2016)
(2) Established in 1999, Dream Doors is the UK's largest kitchen facelift retailer and a multi-award winning retail franchise with 60 showrooms throughout the UK. (Source: www.dreamdoors.co.uk 12/09/2016)
(3) The Seller is in discussions with the tenant regarding a new 4 year lease at £19,000 p.a. with a rent review on the second anniversary of the term.