Investment Consideration:
Gross Initial Yield: 8.32%
Rental Income: £31,200 p.a.
VAT is applicable to this property. TOGC available.
Entire property let to a London based IT service provider as part of their expansion into Essex
Comprises ground floor retail shop with ancillary accommodation at basement
Includes 3 bedroom residential flat at first and second floor, accessed from the rear
Within 13 min walk from Witham Rail Station providing regular services to London Liverpool Street
Occupiers close by include Witham Town Hall, Nationwide, Morrisons Daily, Prezzo and more.
Property Description:
Comprises ground floor retail shop (Class E) with ancillary accommodation at basement and a 3 bedroom self-contained flat at first and second floor, accessed from the rear and providing the following accommodation and dimensions:
Ground Floor: 76 sq m (818 sq ft)
Open plan retail, storage, kitchen, wc
Basement: 28 sq m (300 sq ft)
Two storage rooms
First/Second Floor: 83 sq m (893 sq ft)
3 Bedrooms, kitchen, lounge/dining, storage, bathroom
Total GIA: 187 sq m (2,011 sq ft)
Tenancy:
The entire property is at present let to Debenet Holdings Ltd* for a term of 10 Years from 11th September 2026 at a current rent of £31,200 p.a. and the lease contains full repairing and insuring covenants. Rent review on 11.09.31 linked to RPI. Tenant option to determine on 11.09.31 with min 6 months notice. Deposit held of £5,200. Lease within Landlord & Tenant 1954 Act.
* Debenet Holdings Ltd is a London based IT service provider company. The property formed part of the company`s strategic expansion into Essex.
**Rent free period of 2 months from lease start date. The vendor will top-up rent until 11.11.26 so the buyer receives the equivalent to £31,200 p.a. from sale completion.
Location:
Witham is located some 9 miles north-east of Chelmsford and 12 miles south-west of Colchester. The town is located on the A12 trunk road, providing access to Junction 28 of the M25 Motorway. The property is situated on the east side of Newland Street, in the heart of the town centre. Witham Rail Station is located some 0.6 miles (13 min walk) from the property and provides regular service to London Liverpool Street (40 minutes). Occupiers close by include Witham Town Hall, Nationwide, Morrisons Daily, Prezzo, Anytime Fitness and many more.
