Wickes Braintree - For Sale - Freehold Investment Opportunity, CM77 8YL

FOR SALE - FREEHOLD INVESTMENT OPPORTUNITY

Size : 91,476 sq.ft ( 8498.39 m2 )

Size : 2.10 Acre ( 0.85 Hectare)

Location

Century Drive lies off the B1018 which connects with the A120 a short distance south east of Braintree Town Centre. Also lying off the B1018 and adjacent to the property is the Millennium Trade Centre whose occupiers include Topps Tiles, Screwfix and Howdens.

Braintree Village Shopping Centre (formerly Freeport) and Retail Park. The A120 connects to the M11 and Stansted Airport to the west and the A12 to the east.

Braintree District is the second largest district in Essex in terms of geographical area and is situated in the north of Essex having a population of approx. 152,000 (2017).

Accommodation

The property comprises a retail warehouse with the following floor approximate areas measured on a GIA basis.

Ground Floor 26,282 sq.ft ( 2441.68 m2 )

First Floor Offices 866 sq.ft ( 80.45 m2 )

Existing trading mezzanine 4,699 sq.ft ( 436.55 m2 )

Additional mezzanine 3,355 sq.ft ( 311.69 m2 )

Terms

TENANCY

The property is let to Wickes Building Supplies Limited by way of a 15 year lease commencing 23rd June 2010 at a current passing rent is £302,500 per annum exclusive which is subject to review on the 23rd June 2020.

COVENANT STATUS

Wickes Building Supplies Limited are the UK's largest distributor of materials for the building, construction, and home improvement markets and are owned by Travis Perkins Plc. whose 2018 revenue was £6,741m.

Price

£4,000,000

Service Charge

A service charge may be applicable in respect of this property. Further details on request.

Rates

Rateable Value £267,500

UBR (2019/2020) £0.51

Rates Payable £13642.5

Interested parties are advised to consult with Braintree District Council in regards to Business Rate obligations.

Legal Costs

Each party to bear their own

VAT

The property is elected for VAT. However it is anticipated the sale will be treated by way of a Transfer of a Going Concern (TOGC)