Maldon

Description

• 3 office suites
• 3 residential flats
• Fully occupied*
• Gross Rent: £69,240 per annum
• Service Charge: Payable quarterly by office tenants
• Private off street carpark

     *The tenant of flat 2 has given notice to vacate on the 28/02/2025.

Location

Baltic House is located in the town of Maldon. Maldon is located to the east of the city Chelmsford which is approximately 11.5 miles by road. The settlement of Maldon is accessed by road predominantly via the A12 by the junctions at Hatfield Peverel (B1019) to the north and Sandon to the west via Danbury (A414).
Baltic House is conveniently located within walking distance of the town centre which approximately a 0.5 miles to the south of the property. Maldon benefits from regular bus services to Chelmsford where main line train services can be taken directly to London Liverpool Street.
Baltic House is located within the established industrial area of Heybridge. Baltic House is accessed directly from Station Road. 

Tenure

The Freehold interest of the property is to be sold subject to the office and residential tenancies.

Offices

The office tenancies for the property are predominantly 5 year agreements. The office suites and the garage currently produce a gross rental income of £27,000 per annum. The majority of tenancies are due for review within the next few years. As a result it is considered that there is potential for rental growth. All of the tenancies are excluded from the Landlord and Tenant Act 1954. The office tenants are charged a service charge on a quarterly basis. Electric is also recharged to the tenants. The office suites have all achieved an EPC rating of B.

Residential Flats

The property contains two one bed flats and one two bedroom flat. The three residential flats are all let on assured shorthold tenancy agreements. The residential flats currently produce a gross income of £42,240 per annum. The rent passing is inclusive of services hence the Landlord does not charge the cost of electric, water or drainage. The residential flats are accessed via a shared access.

Services

It is understood that all mains services are connected to the property. Electricity is sub metered and is recharged to the office tenants only.

Planning

The site is located in the local authority of Maldon District Council. The property is located on Station Road within the Blackwater Trading Estate. The property is located within flood zone 3.

Method of Sale

The property is offered for sale freehold.

Only UNCONDITIONAL offers will be considered.

All offers must provide supporting documentation including proof of financial ability to purchase at the offer price and timescales for exchange and completion.

VAT

Sale of the property will be subject to VAT.

Viewing

Being an investment property all viewings must be strictly by appointment with sole agents Whirledge & Nott Ltd. 

Legal Costs

Each party to bear their own legal costs.

Anti Money Laundering

The purchaser will be required to satisfy anti money laundering regulations prior to solicitors being instructed.

Notice 

Whirledge & Nott does not have any authority to give representations or warranties in relation to the property. These particulars do not form part of any offer or contract. All descriptions, photographs and plans are for guidance only and should not be relied upon as statements or representations of fact. All measurements are approximate. No assumption should be made that the property has the necessary planning, building regulations or other consents. Whirledge & Nott has not carried out a survey nor tested any appliances, services or facilities. Purchasers must satisfy themselves by inspection or otherwise.