5 Great Square Braintree Essex CM7 1TX

5 Great Square
Braintree
Essex
CM7 1TX

Prominent Retail Investment

Entirely let to British Heart Foundation until 2021 (subject to option)
Prosperous and historic Market Town
Situated close to the George Yard Shopping Centre entrance
Nearby occupiers include Boots Optician, Halifax, Costa Coffee and Coral

Lot
30
Auction
14th February 2013
Rent
£31,000 per Annum Exclusive
Status
Sold
Price
£335,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Interested?

Expand
Photos
Map

Prominent Retail Investment

Entirely let to British Heart Foundation until 2021 (subject to option)
Prosperous and historic Market Town
Situated close to the George Yard Shopping Centre entrance
Nearby occupiers include Boots Optician, Halifax, Costa Coffee and Coral

Lot 30
Auction 14th February 2013
Rent £31,000 per Annum Exclusive
Status Sold
Price £335,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 10 miles north of Chelmsford, 15 miles west of Colchester, 20 miles east of Harlow
Roads: A120, A12, M11 (Junction 8)
Rail: Braintree (London Liverpool Street in 1 hour)
Air: London Stanstead

Situation

The property is situated in a prominent position on Great Square in the heart of the town centre close to the junction of High Street and Bank Street and the entrance to George Yard Shopping Centre. Both Sainsbury’s and Tesco Supermarkets are within a short walk of the property.

Tenure

Virtual Freehold. Held for a term of 999 years from 10/05/2002 until 3001 at a peppercorn rent.

Location

Miles: 10 miles north of Chelmsford, 15 miles west of Colchester, 20 miles east of Harlow
Roads: A120, A12, M11 (Junction 8)
Rail: Braintree (London Liverpool Street in 1 hour)
Air: London Stanstead

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 10/05/2002 until 3001 at a peppercorn rent.

Description

The property, part of a larger retail parade, comprises a modern ground floor retail unit with ancillary accommodation on the first floor

NB: A partner of Reid Rose Gregory discloses an interest in the property.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not applicable to this lot.

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 (Reversion)
Ground First	Retail Ancillary	113.34 sq m 102.19 sq m	(1,220 sq ft) (1,100 sq ft)	BRITISH HEART FOUNDATION (1)	10 years from 27/01/2011 on a full repairing and insuring lease (2)	£31,000	27/01/2016 (26/01/2021)
Ground First	Retail Ancillary			BRITISH HEART FOUNDATION (1)		£31,000	27/01/2016 (26/01/2021)
Totals		215.53 sq m	(2,320 sq ft)			£31,000

(1) British Heart Foundation is a leading UK charity established in 1961 and is currently trading from approximately 700 outlets in the UK, which include furniture and electrical stores. In addition British Heart Foundation operates an on-line store. (Source: www.bhf.org.uk)
(2)There is a tenant only option to determine on 27th January 2017 on providing 6 months’ prior written notice.