2957 sq. ft. (274.71 m²)
Description
Freehold investment opportunity producing £70,000 per annum, comprising two shops and a vacant first floor with self contained access. Plans for a conversion to a one bedroom flat have been created, but no planning has been sought. The ground floor shops have been let on the following terms:
63 High Street
Ecycle UK Ltd
Term: 10 Years
Start Date: 18/08/2021
Rent: £55,000
Break Option: 24/08/2026
Review Date: 24/08/2026
65 High Street
Timpson Ltd
Term: 10 Years
Start Date: 11/02/2019
Rent: £15,000
Break Option: 10/02/2024
Review Date: 11/02/2024
Location
Brentwood is situated 25 miles north-east of London and 12 miles south-west of Chelmsford. The M25 (J28) is approximately two miles from the town centre which has a regular train service to London Liverpool Street (35 minutes).
VAT
All rents, prices and premiums are exclusive of VAT under the Finance Act 1989.
Rating
From enquiries made of the Valuation of Agency, we believe the rateable value to be £40,500 (63 High Street) £9,700 (65 High Street) for 2023/24. Based upon the Uniform Business Rate we believe the rates payable amount will be £20,209.50 (63 High Street) £4,840.30 (65 High Street).
Legal Costs
Each party to bear their own legal costs incurred in this transaction.