Commercial Property for sale

Townsford Mill, The Causeway, Halstead, Essex, CO9

Under Offer 11,800 sq. ft. | £895,000

Property Description

Commercial information

  • 11,800 sq ft (1,096 sq m)
  • Use class orders: A1 Shops and A3 Restaurants and Cafes

Key features

  • Investment / Redevelopment Opportunity
  • Detached Building of Approx. 11,800 sq. ft
  • Currently Let to Six Tenants
  • Exceptional Location Adjacent the River Colne

Full description

Tenure: Freehold

LOCATION
Townsford Mill is prominently located over the River Colne at the bottom of Halstead High Street. Halstead has a population of circa 11,000 and is a significant shopping center and popular tourist location, approximately 5 miles north east of Braintree, 8 miles south of Sudbury, 14 miles east of Colchester and 14 miles north of Chelmsford. Easy access is available to Stansted Airport and the M11, the M25, A12 and A14.

DESCRIPTION
A Grade II listed former silk weaving mill constructed circa 1740 which was originally water powered, eventually giving way to steam. Of timber frame construction under a pitched slate roof with some timber weatherboard and brick elevations. The Paddocks and The Coach House are of red brick construction under plain tiled roofs with a Kiosk of a mock tutor timber octagonal design under a red plain tiled roof. The River Colne passes under the mill building in a culverted channel with sluice gates maintained by the Environment Agency. To the rear is a paved courtyard and a car park laid to gravel. To the front is a tarmacadam car parking area.

SERVICES
The premises has mains electricity, gas, water, telephone and drainage. There is a sub-meter in the Dickens Restaurant for electricity to The Kiosk, The Paddocks and The Coach House. There is a communal WC for use of The Kiosk, The Paddocks and The Coach House which is maintained by the tenants at their own cost.

PLANNING
The premises have been used for an Antiques Centre since the mid-1980's. the restaurant use was obtained in 2003. The Mill House was previously a house however a Change of Use was obtained for conversion to offices in 2003. A return to residential, under Permitted Development Rights could be possible. Other uses could be as a bed and breakfast or boutique hotel. All planning enquires should be directed to Braintree Town Council. Tel: (01376) 552525.

TENURE
Freehold, subject to six existing tenancies, details to be confirmed.

PRICE
We are instructed to seek offers in the region of 895,000.
A purchase at this price reflects an initial yield of 6.95% with a reversionary yield based on ERV's of 10.23% after deducting purchaser's costs at 6.75% and a particularly low capital value of just 75.00 / sq. ft gross internal. It is envisaged that the transaction could be conducted as transfer of a going concern.

SERVICE CHARGE / INSURANCE
A service charge is levied to cover the upkeep and maintenance of the premises. The buildings insurance premium is reclaimed from the tenants.

ENVIRONMENTAL
The current owners have commissioned a report confirming that there is no asbestos or other deleterious materials within the building. The premises has a communal fire alarm system which is maintained by the Landlord and is recharged via the service charge.

ENERGY PERFORMANCE CERTIFICATE (EPC)
A full copy of the EPC assessments and recommendation reports are available from our office upon request.

FLOOD RISK
The property is in a flood risk area as recorded on the Environment Agency website. Substantial works have been undertaken up stream over recent years to create a large balancing pond to avoid future issues.

VAT
The premises are not elected for VAT.

BUSINESS RATES
The rateable values are as outlined on the tenancy schedule.

NOTE
We wish to declare that, under Section 21 of the Estate Agent's Act 1979, Newman Commercial have a related interest in the above mentioned premises.

VIEWING
Strictly by appointment via sole agents
Newman Commercial


Nearest station

  • Braintree (5.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Newman Commercial, Colchester

882 The Crescent, Colchester Business Park, Colchester, CO4 9YQ

01206 916128 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Braintree (5.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Newman Commercial, Colchester

882 The Crescent, Colchester Business Park, Colchester, CO4 9YQ

01206 916128 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Townsford_Mill. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Newman Commercial, Colchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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