Available
Property Details
280 Sq Ft
£160,000
Property Summary
Investment Opportunity
Property Features
- Close to High Street
- Town Centre Location
- Producing total annual income of £12,250.
- Mutual Break Options in 2027 & 2030
Description
The property held under title no. EX732810 comprises a ground floor end of terrace retail unit which is currently let on a lease expiring May 2033 producing and annual rent of £12,000. The lease provides for mutual break options and rent reviews in May 2027 and May 2030.
The freehold of the property includes the first floor flat which has been sold by way of a 125 yr lease and produces a ground rent of £250 pa. The property produces a total income of £12,250 pa.
Location
The property is located at the southern end of Ongar Road a few minutes walk from Brentwood High Street and close to Sainsbury's Food Store. In the immediate surrounds there are similar type properties properties offering a range of retail occupiers including cafes & eateries, hair & beauty, medical and professional services.
Brentwood is an affluent commuter town with its rail station on the Elizabeth line and road access to the M25 (j28) and A12 all within 10 minutes' drive.
Accommodation
| Name/Floor | Sq Ft | Sq M | Price |
|---|---|---|---|
| Ground Retail Unit | 280 | 26.01 | On Application |
Terms
Freehold subject to the leases. Asking price £160,000 subject to contract.
AMLR
In line with current Anti-Money Laundering Regulations, all prospective tenants or purchasers will be required to provide satisfactory identification and verification documentation before any offer can be accepted. We may undertake electronic checks to comply with these obligations.
Administration Fee
Upon terms being agreed, and prior to Solicitors being instructed, the prospective tenant or purchaser must pay an administrative fee of £250 + VAT to MJM Property Consultants. This fee covers all associated administrative costs, including any referencing fees incurred.
Planning
The planning use for the property is Class E
