Prominent Mixed-Use Parade Investment with Parking
Fully let mixed-use parade
Shops let to tenants including Ladbrokes, Subway and a Charity Shop
Upper floors let to Stef & Philips Limited - a leading provider of accommodation services across the UK
Includes Solicitors office to the rear and car parking
300 metres from Wickford Railway Station in the heart of the town centre
In the same ownership for nearly 20 years
Lot 18
Auction 31st March 2022
Rent Gross: £181,750 per Annum Exclusive Net: £181,750
Status Sold Post
Price
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
30 miles east of Central London, 10 miles south of Chelmsford
Roads
A130, A127, M25
Rail
Wickford Railway Station
Air
London Stansted Airport
Situation
Wickford is a popular town of circa 33,000 residents within the County of Essex, located approximately 30 miles east of Central London. The property occupies a prominent position on the High Street in Wickford. Wickford Railway Station is located about 300 metres from the property, providing direct National Rail services to Central London - including London Liverpool Street in circa 40 minutes.
Tenure
Leasehold. For a term of 999 years from 29th September 1989 at a peppercorn rent.
Location
Miles
30 miles east of Central London, 10 miles south of Chelmsford
Roads
A130, A127, M25
Rail
Wickford Railway Station
Air
London Stansted Airport
Situation
Wickford is a popular town of circa 33,000 residents within the County of Essex, located approximately 30 miles east of Central London. The property occupies a prominent position on the High Street in Wickford. Wickford Railway Station is located about 300 metres from the property, providing direct National Rail services to Central London - including London Liverpool Street in circa 40 minutes.
Tenure
Leasehold. For a term of 999 years from 29th September 1989 at a peppercorn rent.
Description
The property comprises a three storey parade comprising four shops on the ground floor and a fully licensed 17 room HMO arranged on the majority of the first and second floors separately accessed from the side. In addition, to the rear of the property is a self-contained two storey Solicitors office together with parking
VAT
VAT is applicable to this lot.
Planning
Prior Approval was granted on 28th March 2014 (now lapsed) (reference 14/00113/PACU) for the conversion of the first and second floors to 10 residential flats (5 x 1 bed and 5 x 2 bed units).
Subsequently planning permission was granted on 13th October 2014 (reference 14/00876/FULL) for the conversion of the first and second floors to create a 17 room HMO which has been implemented and completed with the current tenant (Stef & Philips) being in occupation since 2015.
The property comprises a three storey parade comprising four shops on the ground floor and a fully licensed 17 room HMO arranged on the majority of the first and second floors separately accessed from the side. In addition, to the rear of the property is a self-contained two storey Solicitors office together with parking
VAT
VAT is applicable to this lot.
Planning
Prior Approval was granted on 28th March 2014 (now lapsed) (reference 14/00113/PACU) for the conversion of the first and second floors to 10 residential flats (5 x 1 bed and 5 x 2 bed units).
Subsequently planning permission was granted on 13th October 2014 (reference 14/00876/FULL) for the conversion of the first and second floors to create a 17 room HMO which has been implemented and completed with the current tenant (Stef & Philips) being in occupation since 2015.
(1) www.ladbrokes.com (2) The lease is subject to a tenant option to determine on 23/06/2023 (3) www.subway.com (4) The lease is subject to a tenant option to determine on 04/04/2024 (5) www.helenrollason.org.uk - The tenant operates from other shops in and around Essex. (6) www.cunningtons.co.uk - A firm of solicitors with other offices in Braintree, Brighton, Chelmsford, Croydon, Ilford & Solihull. A rent deposit of £4,290 is held. (7) www.stefphilips.com - Specialists in providing accommodation to local authorities, housing associations and charitable organisations.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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