113-115 High Street Brentwood Essex CM14 4RX

113-115 High Street
Brentwood
Essex
CM14 4RX

  • 113-115 High Street<br>Brentwood<br>Essex<br>CM14 4RX

Freehold High Street Retail with Mixed Use Upper Parts

  • Popular and Affluent London Commuter Town
  • Mixed Use Opportunity with future Asset Management and Potential Development Angles (Subject to necessary Consents)
  • Approximately 526.46 sq. m. (5,667 sq. ft.) over ground, first and second floors
  • Tenants include D P Realty t/a Domino's who did not exercise their recent break option (May 2022)
  • Rear parking for approximately 9 cars
  • Nearby occupiers include Prezzo, Subway, Co-Op and Betfred
  • Lot
    10
  • Auction
    12/Jul/2022
  • Rent
    £113,640 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,600,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
12 miles south-west of Chelmsford, 30 miles north-east of Central London
Roads
A12, A127, M25 (Junction 28)
Rail
Brentwood Rail
Air
London City and London Stansted Airports
Situation

Brentwood is a busy and popular Essex commuter town some 23 miles north-east of Central London and 12 miles south-west of Chelmsford. London Liverpool Street is accessible by train in approximately 36 minutes from Brentwood Railway Station. Road links are excellent via the A12 providing direct access to London and the national motorway network via the M25. The property is prominently situated on the northern side of High Street with nearby occupiers including Prezzo, Subway, Co-Op and Betfred.

Tenure

Freehold.

Location
Miles
12 miles south-west of Chelmsford, 30 miles north-east of Central London
Roads
A12, A127, M25 (Junction 28)
Rail
Brentwood Rail
Air
London City and London Stansted Airports
Situation

Brentwood is a busy and popular Essex commuter town some 23 miles north-east of Central London and 12 miles south-west of Chelmsford. London Liverpool Street is accessible by train in approximately 36 minutes from Brentwood Railway Station. Road links are excellent via the A12 providing direct access to London and the national motorway network via the M25. The property is prominently situated on the northern side of High Street with nearby occupiers including Prezzo, Subway, Co-Op and Betfred.

Tenure

Freehold.

Description

The property is prominently located on the High Street and provides two ground floor retail units with separate self contained access to the upper floors which encompass studio/office accommodation at first floor level and residential accommodation on the second floor. The property also benefits from an extensive rear car park which provides approximately 9 spaces, accessed via a right of way over a side road between the subject property and the neighbouring 117 High Street and Bishops Gate to the rear.

VAT

VAT is applicable to this lot.

Planning

The property could be suitable for extension or redevelopment (subject to necessary consents). Further enquiries can be made with Brentwood Borough Council on 01277 312500 or visit www.brentwood.gov.uk/planning

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 Week Completion Available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is prominently located on the High Street and provides two ground floor retail units with separate self contained access to the upper floors which encompass studio/office accommodation at first floor level and residential accommodation on the second floor. The property also benefits from an extensive rear car park which provides approximately 9 spaces, accessed via a right of way over a side road between the subject property and the neighbouring 117 High Street and Bishops Gate to the rear.

VAT

VAT is applicable to this lot.

Planning

The property could be suitable for extension or redevelopment (subject to necessary consents). Further enquiries can be made with Brentwood Borough Council on 01277 312500 or visit www.brentwood.gov.uk/planning

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 Week Completion Available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
Ground (113 High Street) Retail
114.08
(1,228)
D P REALTY LIMITED (t/a DOMINO''S) (1) 35 years from 28/11/1997 until 27/11/2032 (2) (3)
£32,000
28/11/2022
Ground (115 High Street) Retail
106.28
(1,144)
INDIVIDUAL (t/a COSMESSEX) (4) 5 years from 29/03/2019 until 28/03/2024 (5) (6)
£30,000
 
First (113-115 High Street) Office/ Studio
150.78
(1,623)
INDIVIDUAL 5 years from 04/04/2022 until 04/04/2027 (8)
£26,000
 
Second (113-115 High Street) Residential
77.66
(836)
INDIVIDUAL AST from 25/10/2021 until 24/10/2022 (9)
£12,000
 
Second (113-115 High Street) Residential
77.66
(836)
INDIVIDUAL AST from 10/08/2021 until 09/08/2022 (9)
£11,960
 
Rear Car Park (13-115 High Street) Car Park
One Space
  HALA LIMITED  
£1,680 (7)
 
Total  
526.46
(5,667)
   
£113,640
 

(1) For the year ending 27/12/2020, D P Realty Limited reported a Turnover of £2,759,000, a Pre-Tax Profit of £1,049,000 and a Net Worth of £3,691,000. (Source: NorthRow Company Report as at 20/06/2022)
(2) The tenant did not exercise their break option in May 2022.
(3) The lease includes a right to park 2 vehicles at the rear of the property.
(4) Cosmessex is a luxury aesthetics salon and training academy and have been trading since 2019.
(5) The tenant has entered into negotiations relating to an extension of this lease. Further details available upon request.
(6) The lease includes a right to park 2 vehicles at the rear of the property.
(7) The lease includes a stepped rental increase from 01/01/2023 to £1,740 per annum.
(8) The lease includes a right to park 2 vehicles at the rear of the property.
(9) Each AST has the right to park at the rear of the property.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    01.07.22
    File Size
    28 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Seller's Solicitors
Stevens & Bolton LLP
Ian Craig -Ian.Craig@stevens-bolton.com  Hannah Bristow -Hannah.Bristow@stevens-bolton.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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