Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
On the instructions of R Hawes, D Wong and C Farrington of Deloitte LLP as Joint Administrators
Property Information
Location
Miles
11 miles north of Chelmsford, 18 miles west of Colchester, 42 miles north-east of Central London
Roads
A131, A120
Rail
Braintree Rail (60 mins to London Liverpool Street)
Air
London Stansted
Situation
The property is situated in a prominent corner position on the eastern side of Priory Lane at its junction with Bridge End Lane. This is a predominantly residential location close to the church and primary school in the modern Great Notley development.
Tenure
Freehold.
Location
Miles
11 miles north of Chelmsford, 18 miles west of Colchester, 42 miles north-east of Central London
Roads
A131, A120
Rail
Braintree Rail (60 mins to London Liverpool Street)
Air
London Stansted
Situation
The property is situated in a prominent corner position on the eastern side of Priory Lane at its junction with Bridge End Lane. This is a predominantly residential location close to the church and primary school in the modern Great Notley development.
Tenure
Freehold.
Description
The property comprises a convenience store and three retail units to the ground floor and nine flats over the first and second floors. There is on-site parking for approximately 26 cars to the rear.
This property is being marketed for sale on behalf of the Administrators of Bell (Projects) Limited and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a convenience store and three retail units to the ground floor and nine flats over the first and second floors. There is on-site parking for approximately 26 cars to the rear.
This property is being marketed for sale on behalf of the Administrators of Bell (Projects) Limited and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Convenience Store
Ground
Retail
139.73 sq m
(1,504 sq ft) (1)
INDIVIDUALS (t/a The Co-operative)
999 years from 01/01/2009
Peppercorn
(31/12/3007)
1
Ground
Retail
180.42 sq m
(1,942 sq ft) (1)
INDIVIDUAL (t/a Fusion Restaurant)
999 years from 01/01/2009
Peppercorn
(31/12/3007)
2
Ground
Retail
67.17 sq m
(723 sq ft))
SUN BEAUTIES LIMITED
20 years from 24/02/2012
£15,500 (2)
24/02/2017 and five yearly thereafter (23/02/2032)
3
Ground
Retail
70.23 sq m
(756 sq ft)
INDIVIDUAL (t/a Smiths)
15 years from 30/06/2012 (3)
£15,000
30/06/2017 and five yearly thereafter (29/06/2027)
Flat 2
Second
Residential – One Bed Flat
40.69 sq m
(438 sq ft)
INDIVIDUAL
AST for 1 year from 21/03/2013
£6,600
(20/03/2014)
Flat 3
Second
Residential – One Bed Flat
54.25 sq m
(584 sq ft)
INDIVIDUALS
AST for 1 year from 12/02/2013
£7,140
(11/02/2014)
Flat 7
First
Residential – Two Bed Flat
62.43 sq m
(672 sq ft)
INDIVIDUALS
AST for 1 year from 21/02/2013
£8,100
(20/02/2014)
Flat 9
Second
Residential – One Bed Flat
56.67 sq m
(610 sq ft) (4)
INDIVIDUAL
AST for 1 year from 17/01/2013
£6,600
(16/01/2014)
Flats 1, 4, 5, 6 and 8
First and Second
Residential
369.38 sq m
(3,976 sq ft) (4)
INDIVIDUALS
Five separate leases for terms of 999 years from 01/01/2009
Peppercorn
(31/12/3007)
Totals
1,040.97 sq m
(11,205 sq ft)
£58,940 (2)
(1) These areas have been provided by the VOA. (2) Due to historical flooding caused by a nearby pond, the tenant is not currently trading from the unit and has temporarily suspended rental payments. The maintenance of the pond is the responsibility of the local council which is in the process of undertaking works of maintenance. (3) The lease provides a tenant option to determine on the fifth and tenth anniversary of the term. (4) These areas have been provided by Bell (Projects) Limited (in Administration) and have not been verified. NB. Statutory Section 5B Notices have been served on all residential tenants – see legal pack for further details.
Contacts
Associate Auctioneers
Lambert Smith Hampton United Kingdom House, 180 Oxford Street London W1D 1NN
