63 Newland Street, Witham, Essex, CM8 1AA
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- Freehold
- Strictly by appointment with the Auctioneers
Description
COMMERCIAL INVESTMENT/RE-DEVELOPMENT: A GRADE II LISTED BUILDING COMPRISING OF 3 SHOPS, UPPER FLOORS PLUS A CAR PARK AND STORAGE BUILDING.
A historic Grade II listed building in the heart of Witham town centre comprising of 1 x vacant shop with upper floors and 2 further premises that are currently let as a wine bar and photo and framing centre. The total plot is approximately 0.3 acres which includes a large car park containing a workshop/storage building and parking spaces that are let out to local businesses. It is considered that the plot and some vacant parts of the building could be redeveloped to create residential accommodation subject to obtaining all relevant permissions.
63 Newland Street- 1780 square foot including:
Main Floor - 45'9 x 20'6
Store Basement - 17'7 x 10'4
First Floor- (previously used as accommodation)
Landing- 9'8 x 8'5
Store Room - 11'8 x 11'8
Store Room 2 - 11'8 x 7'5
Office - 8'5 x 7'4
Toilets - 10'3 x 23'0
Former Kitchen (with fire escape) - 13'1 x 10'0
Loft space - 32'4 x 14'1
63a Newland Street-1120 square foot approx
63b Newland Street- 635 square foot approx
Outbuilding 43'3" x 15'4"
63 Newland Street - vacant previously let to Mondy's Ironmongers at £14,523 per annum
63A Newland Street - Art and Frame- £9400 per annum
63B Newland Street - Shampers Wine Bar- £10,200 per annum
Rent on Mondy Ironmongery (Bens Hardware) it went into liquidation - £14,523
12 cars spaces - let at £10 per week - £6240 per annum
3 car spaces - let at £15 per week - £2340 per annum
5 further car parking spaces available - potential rent £2600 per annum
Current total income - £28,180 per annum
Potential income based on previous let and fully let car park - £45,303 per annum
63- Newland Street- Vacant
63A Newland Street -Art and Frame - A 5 year lease expired in October 2024 and was reverted to a rolling annual lease. We are advised that the tenants wish to remain (they have occupied the building for over 5 years)
63B Newland Street- Shampers Wine Bar - 5 year lease of which there is approximately 4 years remaining.
It is considered that it may be possible to develop the car park, storage building and/or the vacant upper floors to create residential accommodation subject to planning permission and all other necessary consents.
We are advised that the first floor space that was previously part of the lease to Mondy's was historically residential accommodation. We are of the understanding that no planning applications have been made for either residential redevelopment of upper floors or additional development within the grounds.
For all planning enquiries please contact Braintree District Council planning department on or seek independent advice.
63, 63a and 63b Newland Street- C
Brochures
Legal Documents63 Newland Street, Witham, Essex, CM8 1AA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Witham Station0.5 miles
- Hatfield Peverel Station2.4 miles
- White Notley Station3.3 miles
Notes
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