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Property Image
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For Sale: £300,000

Sold

1-3 Gate Street, Maldon, Essex

Property Image
Property Image
Property Image
Property Image
  • Area

    area
    2322Sq Ft

The property comprises an attractive period office building which has accommodation split over the ground and first floor. WC and kitchenette facilities are provided as well as car parking to the rear.

LOCATION
Maldon is an attractive town with a district population of approximately 65,000 people and is located approximately 10 miles to the east of Chelmsford and 18 miles south west of Colchester. The town is served by the A414 which provides access to the A12 dual carriageway some 8 miles to the west. The property is situated on Gate Street a few hundred yards from the top end of Maldon High Street which is predominantly occupied by estate agents and solicitors. A number of national retailers such Greggs, M & S Simply Food and Natwest Bank can also be found nearby.

ACCOMMODATION
We understand the approximate Net Internal Area of the property is as follows:
Ground:
1,198 Sq. Ft. (111.29 Sq. M.)
First:
1,124 Sq. Ft. (104.42 Sq. M.)
Total:
2,322 Sq. Ft. (215.71 Sq. M.)

All measurement are provided as a guide only and all interested parties are to satisfy themselves of the correct floor areas.

SERVICES
We understand the property is connected to mains water, drainage and electricity. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.

LOCAL AUTHORITY
Maldon District Council
Telephone 01621 854477

EPC
Band D - 96

BUSINESS RATES
We understand from the Valuation Office Agency website the property has been split into a number of individual assessments. They are as follows:
Ground Floor - Rateable Value £12,000
Room 1/2 First Floor - Rateable Value £5,400
Room 3 First Floor - Rateable Value £1,575
Room 4 First Floor - Rateable Value £2,275
Room 5/6 First Floor - Rateable Value £2,750

LEASE TERMS
The property is let is Kew Law LLP for a term of 10 years from 1st June 2020. The current passing rent is £20,500 per annum and the rent is subject to an upward only rent review 1st June 2025. There is a tenant only break 31 May 2025 subject to 6 months prior written notice. The lease is internal repairing only and is subject to a photographic schedule of condition. A copy of the lease is available upon request.

VAT
We understand VAT is not payable on the purchase price.

GUIDE PRICE
£300,000

LEGAL COSTS
Each party to bear their own legal costs.

VIEWING
Strictly by prior appointment with the sole agents:
Fenn Wright
20 Duke Street, Chelmsford, CM1 1HL
01245 261226
fennwright.co.uk
Contact:
James Wright jw@fennwright.co.uk
John Logan jdl@fennwright.co.uk

Features

  • Town Centre Office Investment with Parking
  • 2,322 Sq. Ft. (215 Sq. M.)
  • Currently Generating £20,500 Per Annum
  • 10 Year Lease from 1st June 2020
  • Break and Upwards Only Rent Review 2025
  • Additional Land to the Rear Available by Separate Negotiation

Floor plan

Floorplan Image

Floorplan Image

Map

Call

James Wright

01245 261226
Make an enquiry

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