Entirely let to Kwik-Fit Properties Limited (guaranteed by Kwik-Fit Holdings Limited) until 2027 (no breaks)
Popular Essex commuter town
Within 5 minutes walk of Braintree Rail Station and Braintree town centre
Future development potential (subject to consents)
Lot 8
Auction 28th March 2018
Rent £59,122 per Annum Exclusive
Status Sold
Price £1,115,000
Sector Motor Trade/Petrol Station
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation
Braintree is a popular Central London commuter town in Essex. The property occupies a prominent position on South Street, close to its junction with Station Approach and Fairfield Road, which leads direct to the town centre. Braintree Railway Station, with direct services to London Liverpool Street, is within a 3 minute walk. South Street is a predominantly residential location with other nearby commercial occupiers including the Wagon & Horses public house, Lambert Chapman Accountants and South Street Car Wash.
Tenure
Freehold.
Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation
Braintree is a popular Central London commuter town in Essex. The property occupies a prominent position on South Street, close to its junction with Station Approach and Fairfield Road, which leads direct to the town centre. Braintree Railway Station, with direct services to London Liverpool Street, is within a 3 minute walk. South Street is a predominantly residential location with other nearby commercial occupiers including the Wagon & Horses public house, Lambert Chapman Accountants and South Street Car Wash.
Tenure
Freehold.
Description
The property comprises a ground floor tyre depot with ancillary and reception accommodation. The property benefits from roller shutter doors, forecourt parking and an approximate site area of 0.206 acres (0.083 hectares).
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 a ground floor tyre depot with ancillary and reception accommodation. The property benefits from roller shutter doors, forecourt parking and an approximate site area of 0.206 acres (0.083 hectares).
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Workshop & Reception/ Ancillary
465.81 sq m
(5,014 sq ft)
KWIK-FIT PROPERTIES LIMITED guaranteed by Kwik-Fit Holdings Limited (1)
30 years from 22/12/1997 until 21/12/2027 on a full repairing and insuring lease
£59,122.97
22/12/2017 22/12/2022
Total
465.81 sq m
(5,014 sq ft)
£59,122.97
(1) Kwik Fit are experts in automotive repair including tyres, MOT testing, car servicing, exhausts, brakes, and air-con. They are the leading fast-fit supplier of tyres in the country and carry stocks of over 600,000 products in over 600 centres (Source: www.kwikfit.com). For the year ending 31 March 2017, Kwik-Fit Holdings Limited reported a total net worth of £28,550,000 (Source: Experian Group - 28/02/2018).
