Lot 145 - Mixed Use Commercial Premises With Part Vacant Possession
32, 32a & 32b High Street, Essex, CM9 5PN
Guide Price: *
£475,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Opening bid:
£470,000Bid history
0 bidsGuide Price* : £475,000 - £500,000
Currently let at £31,000 per annum
Estimated rental valuation £54,000 per annum
Situated in the High Street of the historic market town of Maldon, is this mixed commercial investment made up of three parts.
Two of the three sections of the building are currently let, with the upper parts (Ground Floor entrance) currently vacant. This established building is situated at the top end of Maldon High Street, which has a number of restaurants, shops and professional services and is directly opposite the church.
32A High Street
Restaurant
Main restaurant area, kitchen, two cloakrooms/W.C. and store.
Tenancy
Let on a 20-year lease from 24th June 2008 at a current rental of £15,000 per annum, with rent reviews every fourth anniversary. The rent has not being increased since the initial agreement in 2008.
32 High Street
Retail/Opticians
Main sales area, consultation room, back office and cloakroom/W.C.
Tenancy
Let on a 10-year lease from 4th March 2020 at a current rental of £16,000 per annum. There is a rent review on the 4th March 2023 and every third anniversary and a tenant break 4th March 2025, subject to at least six months prior written notice.
32B High Street
Ground Floor
Entrance reception area with stairs leading to upper levels. There is also stairs leading down to a lobby and office and access to the rear yard from a separate staircase.
First Floor
Five rooms, kitchen, storage cupboard and two cloakrooms/W.C. Stairs leading down to rear lobby.
Second Floor
Four rooms, kitchen and two cloakrooms/W.C.
Tenancy
The offices are currently vacant but previously let at £16,000 per annum. May offer potential for alternative uses, subject to all necessary consents being obtainable.
Local Planning Authority
Maldon District Council. Tel: 01621 854477. Website: maldon.gov.uk.
Auctioneer’s Note
We have been advised by the seller that they hold two Council car parking permits for a private car park to the rear which are included. The permits will be renewed on 1st February for a six-month period and will be assigned to the property. Further information will be available in the legal pack which can be downloaded from the Clive Emson website.
Freehold with Part Vacant Possession
Joint Auctioneer
Fenn Wright, 20 Duke Street, CHELMSFORD, Essex, CM1 1HL, 01245 261226
Summary
- Lot number
- 145
- Auction end
- 26th Jul at 16:24
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
Summary
- Lot number
- 145
- Auction end
- 26th Jul at 16:24
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Essex, North & East London
01245 205778
First Floor, 129 New London Road, Chelmsford, Essex, CM2 0QT
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
