Offers over
£1,500,000
(£126.52/sq. ft)
Retail premises for saleDe Burgh House, Market Road, Wickford SS12
11,856 sq. ft
EPC Rating: B
Freehold
About this property
Investment Opportunity
Prominent Location
Currently Producing £115,000 Per Annum
Building Set Over 3 Floors
Offers In Excess Of 1.5 Million
Description
The investment comprises a three-storey building, fully tenanted with tenants on existing leases, currently generating an annual income of £115,000. However, Harvey Copping Harrison is in communication with the landlord in regard to terminating their lease so a new lease can commence.
Location
This property is situated on Market Road in Wickford, just off the High Street. The property benefits from excellent road connections, including access to the A127 and A132, and is well-served by public transport with Wickford Railway Station nearby offering direct services to London.
Viewings
Strictly by prior appointment via vendors appointed agents Ayers & Cruiks.
Terms
A portion of the ground floor and part of the first floor are leased to Aslan Fitness Limited under a 20-year agreement commencing on October 2,2024. The lease includes an 18-month rent-free period, after which an annual rent of £55,000 will be payable, subject to rent reviews every five years. These reviews are capped and collared between 1.5% and 3.5%. Additionally, the lease includes tenant break options in the 10th and 15th years. The vendor will make up the balance of the remaining rent-free period.
The remaining portion of the first floor is leased to Harvey Copping but will be terminated shortly and negotiations for a new lease are expected to commence soon.
The second floor is leased to Animo Associates, with the lease set to expire on November 29,2027. They are paying an annual rent of £37,000.
Price
Offers in excess of £1.5 million.
The investment comprises a three-storey building, fully tenanted with tenants on existing leases, currently generating an annual income of £115,000. However, Harvey Copping Harrison is in communication with the landlord in regard to terminating their lease so a new lease can commence.
Location
This property is situated on Market Road in Wickford, just off the High Street. The property benefits from excellent road connections, including access to the A127 and A132, and is well-served by public transport with Wickford Railway Station nearby offering direct services to London.
Viewings
Strictly by prior appointment via vendors appointed agents Ayers & Cruiks.
Terms
A portion of the ground floor and part of the first floor are leased to Aslan Fitness Limited under a 20-year agreement commencing on October 2,2024. The lease includes an 18-month rent-free period, after which an annual rent of £55,000 will be payable, subject to rent reviews every five years. These reviews are capped and collared between 1.5% and 3.5%. Additionally, the lease includes tenant break options in the 10th and 15th years. The vendor will make up the balance of the remaining rent-free period.
The remaining portion of the first floor is leased to Harvey Copping but will be terminated shortly and negotiations for a new lease are expected to commence soon.
The second floor is leased to Animo Associates, with the lease set to expire on November 29,2027. They are paying an annual rent of £37,000.
Price
Offers in excess of £1.5 million.
Mortgage calculator
Monthly repayment
£7,503 per month
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