Available
South Woodham Ferrers – Medivet Veterinary Practice
The Bungalow, 17 Woodham Halt, South Woodham Ferrers, Essex CM3 5JBFreehold Veterinary Practice Investment
Price
£550,000
Rent P.A.
£38,250
Yield
6.95%
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
7y 5m
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).
