SoldFreehold Trade Counter Investment For Sale - Brentwood Essex

1.58 acre site with development potential

3-7 Orchard Lane,  Land on South Side of Coxtie Green Road, Pilgrims Hatch, Brentwood, ESSEX CM14 5PN

Features

  • Bids requested by midday Tuesday 27th February 2018
  • Freehold
  • Site of 1.58 acres with development potential
  • Highly reversionary with rent review in March 2019
  • Approximately 6 years unexpired on FRI lease
  • Prestigious commuter belt location
  • 10,125 square feet of built space
  • Eaves height 5.78 m (19 ft). Height to apex 7.51 m (25 ft)

Location

The property is located 32 kilometres (20 miles) north-east of Central London, 64 kilometres (40 miles) south of Cambridge and 3.2 kilometres (2 miles) north-west of Brentwood town centre.

The property is situated on Coxtie Green Road, 0.4 kilometres (0.25 miles) west of the junction with Ongar Road (A128).

Junction 28 of the M25 and Junction 28 of the A12 are 2.8 kilometres (1.75 miles) to the south of the property.

Brentwood is a desirable commuter town with a thriving shopping area / high street. The journey time from Brentwood to London Liverpool Street is only 35 minutes.

The property is situated in a predominantly residential area with other nearby uses including a cricket club, a school, nurseries, farms and a recycling centre.

There are several small industrial estates closer to the town centre on the Ongar Road.

Weald Country Park is located 0.4 kilometres (0.25 miles) to the south and Bentley Golf Course & Weald Park Golf Course are approximately 1.2 kilometres (0.75 miles) to the north and west respectively.

Site area 6402.1 sq.m. /68911 sq.ft. / 1.58 acres 

Grd: Trade Counter & Warehouse794.25 sq.m. / 8549 sq.ft.
GIA
1st: Offices146.46 sq.m. / 1576 sq.ft.
GIA
Concrete surfaced secure yard4980.00 sq.m. / 53604 sq.ft.

Description

The entire property is let to Travis Perkins (Properties) Ltd at a passing rent of £89,500 p.a. on a fully repairing lease with circa 6 years remaining.

The modern steel portal frame warehouse has a gross internal area of 10,125 sq.ft. In addition, there is a concrete-surfaced yard of 53,600 sq ft.

The warehouse was constructed in the late 1990s and has an eaves height of 5.78 m (19 ft), comprises two separate warehousing areas, a ground floor sales display & trade counter area and first floor office accommodation above.

The property features security flood lighting, CCTV and secure perimeter fencing.

A capacity study shows that (subject to planning consent) the site has capacity to provide 53 extra care apartments with communal facilities or 17 detached three/four bedroom houses. Other development options may also be possible. The drawings are available to download from our website.

Terms

Freehold for sale subject to the lease to Travis Perkins for 25 years commencing 25th March 1999, with a passing rent of £89,500 per annum. VAT is not charged on rent. No exemption to waive has been made.

Rateable value: £90,000

Estimated Rates Payable: £44,370 per annum

Service charge: n/a

Local authority: Brentwood Borough Coucil


Property reference: 25446 Updated: 03 May 2019