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Brentwood - Freehold Retail Investment with Development Opportunity

For sale: £1,000,000.00|2,454 Sq Ft|Office, Offices, Retail - High Street, General Retail, Retail

Property details

FOR SALE£1,000,000.00
SIZE2,454 Sq Ft
ADDRESS137 High Street, Brentwood, Essex, CM14 4RZ
TYPEOffice, Offices, Retail - High Street, General Retail, Retail
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON30th August 2021

Description

Investment Consideration:
Gross Initial Yield: 5.00%
Rental Income: £50,000 p.a.
VAT is NOT applicable to this property
Comprises 3 storey corner building, currently operating as an office accommodation
Total area size of 228 sq m (2,454 sq ft)
Planning approved for converting First and Second Floor to 3 x Residential Flats
Located within 0.4 miles from Brentwood Train Station
Nearby occupiers include Papa John`s Pizza, Subway and Prezzo, amongst number of local traders.

Property Description:
The property comprises corner building currently operating as an office accommodation, arranged over ground, first and second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Office 96 sq m (1,033 sq ft)
First Floor: Office 96 sq m (1,033 sq ft)
Second Floor: Office 36 sq m (388 sq ft)
Total area size: 228 sq m (2,454 sq ft)

Tenancy:
The entire property is at present let to Clacton Dental Care Ltd* for a term of 15 years from 1st September 2018 at a current rent of £50,000 per annum and the lease contains full repairing and insuring covenants. Rent review in 2023 and 2028. Tenant option to determine in 2023 with minimum 6 months notice.
*Note - Clacton Dental Care is a large dental practice operator with more than 30 locations across UK.

Development Opportunity:
Planning approved for converting first and second floor offices to 2 x 1-Bed and 1 x 2-Bed Flats.
The property would provide the following accommodation and dimensions:
Ground Floor: Medical Premises 96 sq m (1,033 sq ft)
First Floor: 2 Residential Flats 96 sq m (1,033 sq ft)
Flat 1 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC
Flat 2 - 2 Bedrooms, Kitchen/Living Room, Bathroom/WC
Second Floor: 1 Residential Flat 36 sq m (388 sq ft)
Flat 3 - 1 Bedroom, Kitchen/Living Room, Bathroom/WC

Location:
Brentwood is a town in the Borough of Brentwood, in the county of Essex in the East of England. It is in the London commuter belt, situated 20 miles east-north-east of Charing Cross and close by the M25 motorway. The A12 road, which runs between London and Lowestoft, by-passes the town to the north and the London orbital M25 motorway is located 1.2 miles (2 km) to the south-west of the town. Brentwood railway station is located to the south of the town centre and is served by TfL Rail stopping services between London Liverpool Street and Shenfield. The property is located within 0.4 miles from Brentwood Train Station. Nearby occupiers include Papa John`s Pizza, Subway and Prezzo, amongst number of local traders.

Location

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Location: 137 High Street, Brentwood, Essex, CM14 4RZ

Upminster (4.7 miles)

Upminster Bridge (5.0 miles)

Hornchurch (5.7 miles)

Brentwood (0.4 miles)

Shenfield (1.5 miles)

Harold Wood (3.3 miles)

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