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Light Industrial for sale

26-36, Benfield Way, Braintree, Essex, CM7

Offers in Excess of £1,500,000
14,918 sq. ft.

Property Description

Commercial information

  • 14,918 sq ft (1,385 sq m)

Key features

  • Reversionary Part Let Unbroken Industrial Estate Comprising 3 Vacant and 3 Let Units
  • Site Area of Approximately 0.6 Acreas
  • Current Annual Rental Income on Part of 24,500 With Reviews in 2020
  • The Let Units are Held on 3 x Seven Year Leases With Rent Reviews in 2020
  • Term Certain on the Three Leases of Just Under 5 Years

Full description

Description
The scheme can be split into two parts. To the rear is a terrace of three industrial units that are let out. These units are of a similar specification throughout with 3 phase electricity, high eaves height and roller shutter doors.
The vacant units form a block of three. Two units overlook the aforementioned terrace, and one of which has had a full mezzanine floor installed, whilst the other unit is predominantly full height with a small mezzanine in part. Excluding the mezzanine, these two units have a minimum eaves height of approximately 5 metres, and a maximum of approximately 7 metres. Similarly these units benefit from roller shutter doors and a three phase supply. Adjoining this block to the rear is the original unit, which is accessed from the front of the site, and has an up and over access door. The rear part of this unit has a substantial first floor mezzanine provide office accommodation.
The site has approximately 25 demised car parking spaces, excluding car parking to the front of the units, and occupies a site area of 0.6 acres.

Location
The scheme is located on Benfield Way which is to the east of Braintree town centre. Benfield Way is accessed via the B1018. The site is within close proximity to the popular Braintree Village (formerly known as Freeport) and a number of national trade counter operators such as Screwfix, Wickes and Topps Tiles. The A120 is just over 1 mile from the property which provides convenient access to the M11 and Stansted Airport.
Braintree Station provides a frequent services to London. Liverpool Street with a journey time of approximately 60 minutes.
The scheme is neighboured by Travis Perkins and a variety of trade counter and industrial users.

Services
We understand the property is connected to mains water, drainage, gas, and electricity. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.

Tenancies
Unit 26 - 30
These units are currently occupied by the Vendor's business, but will be sold with vacant possession.

Unit 32
Let to W.R. Autos Limited (Company no.: 08961688) with a Director's Guarantee to the Lease. The term commenced on 2nd September 2017 for 7 years with an upwards only rent review to open market value on 3rd and 6th anniversary of the term. The Lease is drawn up on a full repairing and insuring basis and contracted outside the 1954 Landlord and Tenant Act.

Unit 34 and 36
Let under two separate Leases to David White, trading as White Bodyworks. The Leases are held on a full repairing and insuring basis commencing on 2nd September 2017 for a term of 7 years with upwards only rent reviews to open market value on 3rd and 6th anniversaries of the terms. The Leases are drawn up on a full repairing and insuring basis and contracted outside the 1954 Landlord and Tenant Act.

Local Authority
Braintree District Council
Causeway House
Bocking End
Braintree
CM7 9HB
T.

Planning
We understand that the scheme benefits from longstanding B2 use.

Business Rates and EPC
Please see the schedule within our marketing particulars. Energy Performance Certificates are available upon request.

VAT
We understand that the property is elected to VAT, which will be payable on the purchase price. The sale may qualify as a Transfer of Going Concern, interested parties should make their own enquiries.

Information Pack
An information pack to include the Leases, EPCs and Title documents is available upon request.

Tenure
Freehold subject to the Leases which currently produce £24,500 per annum.

Terms
The property is for sale by private treaty, and offers are invited in excess of £1.5 million.

Legal costs
Each party to bear their own legal costs.


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