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AGENT'S DETAILS


3 and 4 Europa Business Park, Croft Way, Witham, CM8 2FB

For sale: £2,100,000.00|18813 Sq Ft|Distribution Warehouse, General Industrial, Light Industrial, Industrial

PROPERTY DETAILS

FOR SALE£2,100,000.00
SIZE18813 Sq Ft
ADDRESS3 and 4 Europa Business Park, Croft Way, Eastways, Witham, CM8 2FB
TYPEDistribution Warehouse, General Industrial, Light Industrial, Industrial
TENUREUnder Offer, For Sale Freehold
POSTED ON15th August 2020

DESCRIPTION

Location
Europa Business Park is well located on the Eastways Industrial Estate to the East of Witham with easy access to the A12 dual carriageway. Chelmsford and Colchester are approximately 9 and 14 miles away with the A12 providing connections to the East coast ports of Felixstowe and Harwich, the M25, M11 and Stansted Airport.

Description
The building has been sub divided to create three separate units (A, B and C) and is of steel portal frame construction with a brick and insulated clad elevations under a pitched and insulated roof which incorporates translucent roof lights. Eaves heights range from approx. 4m to 6.2m with a pitch height of 10m. The premises sits on a site of approx. 1.07 acres (0.435 ha).

Unit A benefits from an impressive entrance foyer with access to ground and first floor office areas, male, female and accessible W/Cs and a passenger lift to the first floor. There is radiator heating and ceiling cassette cooling (not tested) and a mix of CAT2 and LED lighting. A loading door, approx. 3.5m x 4.7m, with a canopy, provides access to the warehouse which features a polished concrete floor, high bay lighting, three phase power and gas warm air heaters (not tested).

Unit B features a reception area, office, W/C facilities and first floor office area with tea point (tenants improvement, areas not included below). A loading door approx. 3.7m 4.5m provides access to the warehouse which features high bay lighting.

Unit C features a reception area with access to an open plan office area, W/C's and tea point. There is a further office on the first floor, a meeting room, tea point and W/C's. A loading door, approx. 3.85m x 4.75m, provides access to the warehouse high has high bay lighting. Additional office space and two mezzanine floors are present (tenants improvement, areas not included below).

There is a large forecourt area which provides ample loading/unloading space and allocated parking bays for approx. 36 cars.

Accommodation
(Approximate gross internal areas)

Unit AApprox. 10,500 sq ft (975.5 sq m)
Unit BApprox. 3,050 sq ft (283.4 sq m)
Unit CApprox. 5,263 sq ft(488.9 sq m)
TotalApprox. 18,813 sq ft(1,747.8 sq m)

Terms
The premises are to be sold freehold, with part vacant possession and part subject to the existing leases (as detailed under Tenancy Details), conditional only upon contract at £2,100,000 plus VAT. Consideration may be given to the sale of individual units.

Tenancy Details
Unit A - vacant possession.

Unit B - Currently occupied by Gyrus Olympic Gymnastic Club on the basis of a landlord and tenant protected but expired lease. The rent passing is £19,704 per annum exclusive.

Unit C - Currently occupied by Cook Brothers Ltd who we understand took over a twenty year FRI lease inside the L and T Act dating from February 2011 to Sil-Die Ltd who went in to voluntary liquidation last year. The rent passing is £37,800 per annum exclusive.

Service Charge
A service charge is applicable to cover; maintenance of the estate communal areas, landscaping, lighting and car parking areas. Approx. cost for the current year £TBC.

Business Rates
We have been informed that the rateable values are;

Unit A - £71,000.00 (payable approx. £35,600)
Unit B - £22,250.00 (payable approx. £11,150)
Unit C - £42,250.00 (payable approx. £21,200)

We recommend all parties make their own direct enquiries with the local rating authority.

Planning
We are advised that Units A and C benefit from the original planning consent for the development which is industrial with associated offices. See Application No; 04/00216/FUL. Please note hours restrictions apply.

We are advised that Unit B has planning consent for a gymnastics training facility. Application No; 12/00752/FUL which was granted in August 2012. Please note hours restrictions apply.

Energy Performance Certificate (EPC)
A full copy of the EPC assessment and recommendation report is available from our office upon request.

VAT
All rents and prices are exclusive of VAT under the Finance Act 1989. Interested parties are advised to consult their professional advisors as to their liabilities, if any, in this direction.

Legal Costs
Each party will bear their own legal costs involved within the sale.

Viewing
Strictly by appointment via sole agents Fenn Wright - Michael Moody / Jeremy Newman
( Agency Pilot Software Ref: 14869354 )

LOCATION

Location: 3 and 4 Europa Business Park, Croft Way, Eastways, Witham, CM8 2FB

Witham (0.2 miles)

Hatfield Peverel (2.9 miles)

White Notley (3.1 miles)

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