Oakwood Hill Industrial Estate, Loughton, Essex

FOR SALE
MODERN TWO STOREY OFFICE BUILDING WITH DETACHED GATEHOUSE PREMISES.
12,543sq.ft (1,164.45m2)
SALE OF LONG LEASEHOLD INTEREST
(APPROX 84 YEARS REMAINING)

Location.
The property is located within the Oakwood Hill Industrial Estate, which is at the junction of Oakwood Hill and Chigwell Lane and within approximately a 5-minute walk from Debden Underground Station (Central Line). Numerous bus routes pass the property on a regular basis and access to the M11 Motorway is within a couple of minutes’ drive. The immediate area also benefits from having excellent shopping facilities being
within a few minutes’ walk of Epping Forest Retail Park where occupiers include TK MAXX, Card Factory, Next, Greggs, Home Bargains, Mountain Warehouse, Smyths & ALDI.

Oakwood House:
A modern 2 storey building of c.11,193sq ft (1,040m2) with 40 on site car parking spaces. The building provides a mixture of open plan and private working areas together with ample WC and kitchen facilities. The building has been split to provide several suites, which have been partly let as per the tenancy schedule below.

The Gatehouse:
Comprising a modern self-contained 3 storey office building, adjacent to Oakwood House, providing a mix of open plan and private office space plus WC and kitchen facilities over ground, lower ground & 1st floors. The demise includes 5 demised parking spaces. The total net usable floor area is approximately 1,350sq ft (125.42 m2).

Oakwood House is part occupied with 2-vacant suites of 2641sq ft and 874sq ft.

The Gatehouse is fully let.

The combined properties currently produce a rental income of £163,474, although we anticipate that the property would produce an annual rental in the region of £226,500 if fully let.

Please refer to the attached details for full income information.

Ground Rent Payable:
The current ground rent payable to Epping Forest District Council (The Freeholder) is £53,278.27 pe r annum for both Oakwood House and The Gatehouse combined.
The Ground rent payable is based on the estimated site rental value. Further details available on request.

Tenure:
Long Leasehold (currently 84.5 years unexpired). A copy of the lease is available by request.

Price:
£2,100,000 (two million, one hundred thousand pounds).

Legal Costs:
Each party are to be responsible for their own legal costs.

Administrative Fee:
Upon terms being agreed and prior to Solicitors being instructed, the prospective purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendorwithdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

Possession:
Immediate upon completion of legalities.

Viewing:
Strictly by appointment through sole agents Bennett Phillips Luton | Contact Simon Phillips - simon.