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
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.
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.