Retail premises for sale in Woodham Halt, Chelmsford CM3

Investment Consideration:
Gross Initial Yield: 6.95%
Rental Income: £38,250 p.a.
VAT is not applicable to this property
Comprises detached single storey building operating as a veterinary practice
Property benefits from 17 hard surfaced car parking spaces at front and garden at rear
Entirely let to Medivet Group until 2032 (no breaks) Rent review every 3rd year.
Located within short walk from South Woodham Ferrers Station with occupiers nearby including a Spa Supermarket and Greggs serving a predominantly residential area.

Property Description:
Comprises single-storey detached building operating as a veterinary practice. The property benefits from 17 car parking spaces at front and private garden at rear, providing the following accommodation and dimensions:
Ground Floor: 187 sq m (2,013 sq ft)
Reception, Treatment Rooms, Staff Rooms, Kitchenette, WCs

Tenancy:
The property is at present let to Medivet Group Ltd for a term of 15 years from 29th May 2017 at a current rent of £38,250 per annum and the lease contains full repairing and insuring covenants. Rent review on 29th May 2023,2026 and 2029 (open market upward only). No breaks.
*Medivet was founded in 1987 and now operates over 350 branches across the UK. In 2021 cvc Capital Partners acquired Medivet for in excess of £1bn. ().

Location:
South Woodham Ferrers is a town and civil parish in the borough of Chelmsford, in the English county of Essex. It is approximately 35 miles from London and 8 miles southeast of the city of Chelmsford. In close proximity to the A130 providing easy access to Chelmsford. Located within short walk from South Woodham Ferrers Station with occupiers nearby including a Spa Supermarket and Greggs serving a predominantly residential area.