Acquired
South Woodham Ferrers – Medivet Veterinary Practice
The Bungalow, 17 Woodham Halt, South Woodham Ferrers, Essex CM3 5JBFreehold Veterinary Practice Investment
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
7y 1m
Area
2,013 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises detached single storey building operating as a veterinary practice
- Property benefits from 17 hard surfaced car parking spaces at front and garden at rear
- Entirely let to Medivet Group until 2032 (no breaks) Rent review every 3rd year.
- Located within short walk from South Woodham Ferrers Station with occupiers nearby including a Spa Supermarket and Greggs serving a predominantly residential area.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises single-storey detached building operating as a veterinary practice. The property benefits from 17 car parking spaces at front and private garden at rear, providing the following accommodation and dimensions:
Ground Floor: 187 sq m (2,013 sq ft)
Reception, Treatment Rooms, Staff Rooms, Kitchenette, WCs
Ground Floor: 187 sq m (2,013 sq ft)
Reception, Treatment Rooms, Staff Rooms, Kitchenette, WCs
Tenancy Description
The property is at present let to Medivet Group Ltd for a term of 15 years from 29th May 2017 at a current rent of £38,250 per annum and the lease contains full repairing and insuring covenants. Rent review on 29th May 2023, 2026 and 2029 (open market upward only). No breaks.
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
Tenancies & Accommodation
Location Description
The property is at present let to Medivet Group Ltd for a term of 15 years from 29th May 2017 at a current rent of £38,250 per annum and the lease contains full repairing and insuring covenants. Rent review on 29th May 2023, 2026 and 2029 (open market upward only). No breaks.
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 CVC Capital Partners acquired Medivet for in excess of £1bn. (www.medivet.co.uk).
