Lot 1 - 18 to 32 (evens), 18 Cutlers Road, South Woodham Ferrers, Chelmsford, Essex, CM3 5XJ
- Unconditional Online Auction Sale
- Guide Price* : £500,000
- Multi let industrial Estate
- Combined rent of £36,750 per annum
- Potential to rise to £72,750 per annum
- Site Area 0.31 Acre
Industrial investment comprising a single terrace of 8 units of which 5 are let at a annual rent of £36,750 with potential to rise to £72,750 if the remaining units were each let at £9,000 per annum
Description
The property comprises a row of eight terraced industrial units with unallocated parking spaces to the front. The total size of the site is approximately 0.31 acres.
The units are constructed with a steel frame and brick elevations with profiled cement sheet roofs. Each unit has a manual roller shutter door to the front in addition to a separate personnel entrance.
During our visit, we were not able to internally inspect every unit, but we gained internal access into four of the eight properties. Internally the units are of a similar condition however the layouts are slightly different as they have been altered by each individual tenant. The majority of the units comprise the main warehouse space, an office/s, WC and a mezzanine level for either storage or further office space.
Location
Cutlers Road and the immediate surrounding area is within an established industrial/commercial area mainly occupied by local business, with some national operators like Travis Perkins. Within the wider area are amenities such as an ASDA superstore. South Woodham Ferrers lies approximately 7 miles south east of Chelmsford and 7 miles north of Southend-on-Sea. Access to the area is via the main A130 being reasonably close by which leads to neighbouring towns and the M25 motorway.
Tenure
Leasehold for 125 years from 1st June 1982 at a ground rent of £10,000 per annum.
Accommodation
We detail below the following approximate gross internal areas (For a breakdown please refer to the downloadable tenancy and accommodation schedule). Note that whilst Unit 18 is shown as vacant the tenant of Unit 28 was allowed to store some items in this unit, which we understand was agreed to on an informal basis and no formal tenancy or licence was entered into.
TOTAL 45,250 588.94 6,336
Outside
Shared yard.
Tenancies
5 of the 8 units are let at a combine rent of £36,750 per annum (For a breakdown please refer to the downloadable tenancy and accommodation schedule).
Buyers Administration Fee
There will be a Buyer's Administration Fee of £3,000 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Additional Documents
Office Contact
Important Documents
Agreement Documents
Related Documents
- Assisted Bidding Form
- Tenancy and Accommodation Schedule
- EPC-18
- 20-28 & 32 EPC
- EPC- 22
- EPC-26
- EPC-24
- EPC-28
- EPC-32
Legal Documents
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