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Commercial Property for sale

High Street, Maldon

Sold STC £400,000

Property Description

Key features

  • Prominent Location on High Street
  • Attractive Period Building
  • Rear Access and Car Parking Off Gate Street
  • Current Income £21,950 p.a. with potential to increase up to £31.950 p.a.

Full description

Tenure: Freehold

ACCOMMODATION An attractive period building(Grade II* listed) of brick elevations under a pitched tiled roof, with two shops let out as restaurant/café/bar and a sandwich bar on the ground floor, an office suite (currently vacant) on the first floor above.  

REAR To the rear is a small patio area (let out to the restaurant) and a car park, accessed from Gate Street with four spaces, two let to the restaurant and two to the office suite. The rear building, 4A Gate Street together with two further car spaces is also to be included in the sale, and there is a right-of-way over this property into the car park. 

ENERGY PERFORMANCE CERTIFICATE The property has an EPC rating of F (148) further details on request. 

TENANCIES 9A - Retail area 146 sq. ft (all ITZA) plus basement of 154 sq. ft. Let to Mrs Higgs as a Sandwich Bar, on a lease from 21st November 2006 expiring on 1st February 2025. The lease contains a tenant only option to break as at 2nd February 2018 and the passing rent is £6,000 per year.

9B - Retail area 793 sq. ft. (363 sq. ft. ITZA) plus patio. Let to Mr Emeny as a restaurant, on a lease from February 2013, expiring on 1st February 2025. The current rent is £15,800 a year, subject to review in February 2019 and then again in 2022.

9D & 9E - An empty suite of offices, totalling 942 sq. ft. currently on the market at a rent of £10,000 a year.

4A Gate Street - Let to Mr Bailey as offices on a 99 year lease from 25th March 2005, at a ground rent of £150 per year.

All leases have full recovery of landlords' expenditure via a service charge. The property is registered for VAT. 

PRICE The freehold of the entire property subject to the tenancies set out above is offered at a price of £400,000 plus VAT. This equates to a gross initial yield of 5.5% on the current rent, rising to 8% assuming a letting of the offices at £10,000 a year. 

Nearest station

  • Hatfield Peverel (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Curtis O'Boyle, Maldon

18 High Street, Maldon, CM9 5PJ

01621 476114 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

  • Hatfield Peverel (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Curtis O'Boyle, Maldon

18 High Street, Maldon, CM9 5PJ

01621 476114 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 100923002259. 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 Curtis O'Boyle, Maldon. 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.

Map data OpenStreetMap contributors.