Retail premises for sale in Bank Street, Braintree, Essex CM7

Fully let retail unit for sale freehold in the centre of Braintree Town. The property is generating a total £33,500 per annum with a gross initial yield of 7.6%.

Fully let retail unit for sale freehold in the centre of Braintree Town.

Location
Bank Street is located in Braintree town centre, and is a short walk to the High Street which is pedestrianised. The property is located directly opposite Sandtander and next to the Nationwide Building Society. Braintree is an historic market town in the county of Essex, situated approximately 10 miles from Chelmsford and 15 miles from Colchester. It has excellent transport links, served by the A120, A12 and A131, the former of which links to Stansted Airport and London via the M11.

One of Braintree’s two train stations is located 0.4 miles from the property and provides a regular train service to London Liverpool Street which takes approximately one hour.

Description
The property was built in 1960's consisting of three floors and is of concrete frame construction with curtain walling and flat roofs. The property is currently fully let. There is rear vehicular and pedestrian access from a jointly used yard off Swan Side.

The property is generating a total £33,500 per annum with a gross initial yield of 7.6%.

Both leases are outside the security of tenure provisions of the Landlord and Tenant Act. The Leases are held on internal repairing and insuring terms. Copies of the Leases are available upon request.

The subject property has a ground floor entrance from Bank Street to the upper concrete floors subject to planning the first and second floor has the potential to be converted into residential apartments.

Accomodation
The approximate net internal areas are as follows:
Ground Floor - 1335 sq.ft.
First Floor - 791 sq.ft
Second Floor - 551 sq.ft
Total 2,677 sq.ft

Terms

The freehold of the whole building is available with the asking price £440,000 subject to the existing leases.

Services

We understand the property is connected to mains water, drainage and electricity. Please note Joscelyne Chase has not tested any of these services.

Rateable value

The tenants are responsible for paying their own business rates. Applicants are recommended to confirm the above information direct with Braintree District Council, tel. No.

Legal fees

Each party is responsible for their own legal costs.

Energy performance certificate (EPC)
Please contact our office if you would like a copy of the full report.<br /><br />