124 South Street
Braintree
Essex
CM7 3QQ

Freehold Motor Trade Investment

  • 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
    28/Mar/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
Important Property Update
  • 124 South Street<br>Braintree<br>Essex<br>CM7 3QQ
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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.

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

Bidder'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 advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
GroundWorkshop &
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
£59,122.9722/12/2017
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).

Property Documents

  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    586 KB
    View PDF
  • Site Plan
    Updated Date
    06.03.18
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Philip Ross Solicitors 34 Queen Anne St
London
W1G 8HE
+44 (0) 20 7785 9151
David Connick +44 (0) 20 7636 6969david.connick@philipross.com

Useful Links

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