MAJOR DISTRIBUTION WAREHOUSE/INDUSTRIAL UNIT WITH OFFICES INVESTMENT FOR SALE 2 Elliot Drive, Braintree, Essex CM7 2GD 01206 577667 info@whybrow.net whybrow.net @whybrowproperty
Property Details 59,410 Sq Ft (5,519.33 Sq M) Self-contained 2.16 Acre (0.9 Hectare) Site Ground/First Floor Offices Close To A120 Trunk Road Freehold, Subject To The Occupational Lease To Amaryllis Group Holdings At 200,000pax Asking Price - 2,500,000 (Two Million, Five Hundred Thousand Pounds).
Location & Description Braintree is a major economic centre with a population of circa 55,000. The town benefits from excellent communications links via the duelled A120 to Stansted Airport and the M11 and regular intercity rail links to London-Liverpool Street with a fastest journey time of 58 minutes. Elliot Drive is located close to the entrance to Springwood Industrial Estate to the west of Braintree town centre, within a two minute drive from the A120 which provides excellent access to Stansted Airport, the M11 and Chelmsford, via the A131. The building consists of a warehouse of steel portal framed construction divided into two bays with ground first floor offices. The offices are air conditioned, benefiting from suspended ceilings, carpets and male/ female toilet facilities. The front warehouse has a minimum eaves height of 4m, roof lights, fluorescent lighting and a 6.5 m wide roller shutter loading door while the rear warehouse is of more modern construction with two further loading doors, large mezzanine floor and roof lights. We are advised the property benefits from mains electricity, gas, water and drainage. There is a large concrete yard area to the side of the building, and additional expansion land to the rear.
Accommodation The property stands on a self contained site of 2.16 Acres (0.9 Hectares). Additional expansion land of circa 0.5 acres will be included in the sale. According to our calculations, the property has the following Gross Internal Areas (GIA): Address Sq M Sq Ft Two Storey Offices 5,425 Main Warehouse 30,635 Rear Warehouse 19,400 Mezzanine 3,950 TOTAL 5,519.3 59,410 Covenant Information Amaryllis Group Holdings Ltd is a Marketing & Business Development business that designs, manufactures and sources furnishing solutions and also provides a range of integrated workplace services. Company number 05951116. Town Planning We understand the property benefits from an established Class B1 (light industrial) and Class B8 (warehousing and distribution) Use. Interested parties should make their own investigations of Braintree District Council on 01376 552525. Tenure & Terms Freehold, subject to the occupational lease to Amaryllis Group Holdings Ltd by way of a lease expiring in 14/2/2024 at a passing rent of 200,000pax. The lease incorporates a rent review and tenant break clause in 14/2/2019, the break on 6 months written notice. The lease is excluded from the Landlord & Tenant Act 1954. Interested buyers should note that an additional area of contiguous land extending to approximately 0.5 acres can be acquired by separate negotiations. Terms upon request. Rateable Values We are advised by Braintree District Council that the property has a Rateable Value of 199,000. Legal Fees & VAT All parties are to be solely responsible for their own legal costs incurred throughout any transaction. VAT (Value Added Tax) will be charged on this property sale at the prevailing rate. Energy Performance Certificate The property has an energy performance rating of C69. A copy is readily available upon request or on www.whybrow.net.
Asking Price Freehold asking price of 2,500,000 (Two Million and Five Hundred Thousand Pounds), subject to the occupational lease to Amaryllis Group Holdings Ltd at a passing rent of 200,000pax. A sale at this level would reflect an initial yield of 7.6% allowing for a purchasers costs of 5.625%. Interested buyers should bid separately for the extension land referred to above. Viewings Strictly by prior appointment with the sole agents, Whybrow. Please contact the below to arrange a viewing or for further information: Ewan Dodds BSc FRICS Daniel Keen T: 01206 809111 T: 01206 809117 M: 07957 862773 M: 07885 456844 E: ewan.dodds@whybrow.net E: daniel.keen@whybrow.net Li: Ewan Dodds Li: Daniel Keen Tw: @ewandodds52 Tw: @whybrowagency For additional details, please visit our website as below.