Acquired
Brentwood – Office Investment with Development Opportunity
137 High St, Brentwood, Essex CM14 4RZFreehold Retail Investment With Development Opportunity
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
Holding Over
Area
2,454 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- *Tenant has served break notice and will vacate by September 2023
- Comprises 3 storey corner building, currently operating as an office accommodation
- Total area size of 228 sq m (2,454 sq ft)
- Planning approved for converting First and Second Floor to 3 x Residential Flats
- Located within 0.4 miles from Brentwood Train Station
- Nearby occupiers include Papa John`s Pizza, Subway and Prezzo, amongst number of local traders.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises corner building currently operating as an office accommodation, arranged over ground, first and second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Office 96 sq m (1,033 sq ft)
First Floor: Office 96 sq m (1,033 sq ft)
Second Floor: Office 36 sq m (388 sq ft)
Total area size: 228 sq m (2,454 sq ft)
Development Opportunity:
Planning approved for converting first and second floor offices to 2 x 1-Bed and 1 x 2-Bed Flats.
The property would provide the following accommodation and dimensions:
Ground Floor: Medical Premises 96 sq m (1,033 sq ft)
First Floor: 2 Residential Flats 96 sq m (1,033 sq ft)
Flat 1 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC
Flat 2 - 2 Bedrooms, Kitchen/Living Room, Bathroom/WC
Second Floor: 1 Residential Flat 36 sq m (388 sq ft)
Flat 3 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC
The property provides the following accommodation and dimensions:
Ground Floor: Office 96 sq m (1,033 sq ft)
First Floor: Office 96 sq m (1,033 sq ft)
Second Floor: Office 36 sq m (388 sq ft)
Total area size: 228 sq m (2,454 sq ft)
Development Opportunity:
Planning approved for converting first and second floor offices to 2 x 1-Bed and 1 x 2-Bed Flats.
The property would provide the following accommodation and dimensions:
Ground Floor: Medical Premises 96 sq m (1,033 sq ft)
First Floor: 2 Residential Flats 96 sq m (1,033 sq ft)
Flat 1 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC
Flat 2 - 2 Bedrooms, Kitchen/Living Room, Bathroom/WC
Second Floor: 1 Residential Flat 36 sq m (388 sq ft)
Flat 3 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC
Tenancy Description
The entire property is at present let to Clacton Dental Care Ltd for a term of 15 years from 1st September 2018 at a current rent of £50,000* per annum and the lease contains full repairing and insuring covenants. Rent review in 2023 and 2028. Tenant option to determine in 2023 with minimum 6 months notice.
*Note – Tenant has served break notice and will vacate by 1st September 2023.
*Note – Tenant has served break notice and will vacate by 1st September 2023.
Tenancies & Accommodation
Location Description
Brentwood is a town in the Borough of Brentwood, in the county of Essex in the East of England. It is in the London commuter belt, situated 20 miles east-north-east of Charing Cross and close by the M25 motorway. The A12 road, which runs between London and Lowestoft, by-passes the town to the north and the London orbital M25 motorway is located 1.2 miles (2 km) to the south-west of the town. Brentwood railway station is located to the south of the town centre and is served by TfL Rail stopping services between London Liverpool Street and Shenfield. The property is located within 0.4 miles from Brentwood Train Station. Nearby occupiers include Papa John`s Pizza, Subway and Prezzo, amongst number of local traders.
