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For Sale: £1,250,000

Under Offer

Units 1 & 2 West Station Business Park, Spital Road, Maldon, Essex, CM9

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  • Area

    area
    8618Sq Ft

The premises, constructed in 2008, comprise of a steel portal framed building with brick and insulated clad elevations under a pitched and insulated roof with aluminium double glazed windows and doors. We understand that mains water, drainage and three phase power are connected.

Unit 1 provides two storey fully fitted offices which benefit from; a suspended ceiling with LED lighting, heating/cooling, carpets, W/C and Kitchenette facilities on ground and first floor levels. On the ground floor the accommodation is principally open plan with a reception area and single large meeting/boardroom. The first floor features a large open plan area and four glass fronted partitioned offices and a server room. A fibre internet line is connected providing 100mbs upload/download speeds (up to 1 GB is available). Fourteen car parking spaces.

Unit 2 is principally warehouse / industrial space accessed via a large electrically operated loading door. The warehouse features translucent roof lights, high bay lighting, and an eaves height of approx. 5.7m and a pitch height of approx. 7.7m. A personnel door provides access to two office areas, two W/Cs, a kitchenette and a comms/store cupboard. Six car parking spaces.

Externally a large forecourt providing a total of eighteen marked car parking bays and loading / unloading areas along with two further car parking bays located directly opposite.

Accommodation
Approximate Gross Internal Areas:
Unit 1 (Ground & First Floor Offices) 5,752 sq ft (534.3 sq m)
Unit 2 (Industrial / Warehouse) 2,866 sq ft (266.3 sq m)
Total 8,618 sq ft (800.6 sq m)

Service Charge
We are advised that there is a service charge applicable as a contribution towards the repair / maintenance of the communal estate areas.

The approximate cost for the service charge year ending 31/03/2023 is £2,311.60.

Buildings Insurance
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenants.

Business Rates
We have been informed that the rateable value for Unit 1 is £19,500 and Unit 2 is £18,750. We therefore estimate that the rates payable are likely to be in the region of £9,750 per annum and £9,375 per annum respectively.

The tenants are responsible for paying the business rates.

Interested parties are advised to make their own enquiries with Maldon District Council to confirm their liabilities.

Energy Performance Certificate (EPC)
We have been advised that Unit 1 falls within class B (41) and Unit 2 falls within class C (60) of the energy performance assessment scale. A full copy of the EPC assessment and recommendation reports are available upon request.

Floor Plans
Available upon request.

Local Authority
Maldon District Council.

Tenancy
Unit 1 is let on a full repairing and insuring lease to AWA Building Services Consultants Ltd (Experian rating of 91/100 - 'very low risk') for a term of five years from 1 August 2018 which is set to expire 31 July 2023 at a current passing rent of £59,300 per annum, payable quarterly in advance.

Vacant possession can be available upon completion of the sale subject to agreement.

Unit 2 is let to F&D Lift Interiors Limited (Experian rating of 82/100 - 'low risk') on a one year full repairing and insuring lease agreement set to expire 19 September 2022 at a passing rent of £20,000 per annum, payable quarterly in advance. The lease is contracted outside the security of tenure provisions of the landlord and tenant act. The tenant has been in occupation since 2008.

Further information is available upon request.

Terms
The premises are available For Sale Freehold. Offers are invited in excess of £1,250,000 plus VAT providing a Gross Yield of 6.34% or a Net Initial Yield of 6% assuming purchasers costs of 5.66%.

Title Numbers

Unit 1 - EX814824
Unit 2 - EX814825

VAT
All rents and prices are exclusive of VAT under the Finance Act 1989. Interested parties are advised to consult their professional advisors as to their liabilities, if any, in this direction.

Legal Costs
Each party to bear their own legal costs.

Anti-Money Laundering Regulations
Anti-Money Laundering Regulations require Fenn Wright to formally verify prospective purchaser's identity, residence and source of funds prior to instructing solicitors.

Viewing
Strictly by appointment via the sole selling agents:

Fenn Wright
01206 85 45 45
colchestercommercial@fennwright.co.uk

Features

  • Industrial / Office Premises
  • Currently Let Producing £79,300 PA
  • Suitable For Investor / Owner Occupier
  • Warehouse With Large Loading Door
  • 20 On Site Car Parking Spaces
  • Fully Fitted Air Conditioned Offices
  • Loading / Unloading Areas
  • Established Business Location

Map

Call

Michael Moody

01206 854545
Make an enquiry

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