18-24, Market Square and Oakland Court, CHELMSFORD, Essex, CM3 5XA

Mixed Retail and Office Investment
Modern Development Constructed Circa 1991
Current Rents Reserved £148,665 Per Annum

Location:
This modern development forms part of the Market Square within the heart of South Woodham Ferrers which lies mid way between Chelmsford to the north and Southend-on-Sea to the South. The town provides a vibrant range of shopping facilities, benefits from a number of opportunities for recreational pursuits and has excellent transport links.

Accommodation/ Tenancy

Unit: 18 Market Square
Accommodation: Retail and Ancillary totalling 1,439 sq ft
Tenant: Farleigh Hospice
Tenancy: 9 years from 25/12/2017
Current Rent Reserved: £15,750
Rent Reviews: Next due December 2023
EPC: D

Unit: 20a, 20b, 22 and 24 Market Square
Accommodation: Retail and Ancillary totalling 2,527 sq ft
Tenant: M Daly and L Daly t/a Bellissima Weddings
Tenancy: 10 years from 18/08/2020
Current Rent Reserved: £30,425
Rent Reviews: Currently outstanding August 2023
EPC: B


Unit: First Floor Rear Oakland Court
Accommodation: Office and Ancillary space totalling 2,853 sq ft
Tenant: London process Centre Limited
Tenancy: 10 years from 06/06/2022
Current Rent Reserved: £30,000
Rent Reviews: Next due June 2025
EPC: F


Unit: 1st Floor Front and 2nd Floor Oakland Court
Accommodation: Office and Ancillary space 3,635 sq ft
Tenant: London process Centre Limited
Tenancy: 10 years from 06/06/2022
Current Rent Reserved: £49,890
Rent Reviews: Next due June 2025
EPC: C


Unit: 2nd Floor Rear East Oakland Court
Accommodation: Office and Ancillary space totalling 1,138 sq ft
Tenant: M Daly and L Daly t/a Bellissima Weddings
Tenancy: 5 years from 25/12/2020
Current Rent Reserved: £11,800
Rent Reviews: None – rent fixed for term
EPC: C


Unit: 2nd Floor Rear West Oakland Court
Accommodation: Office and Ancillary space totalling 694 sq ft
Tenant: Kelton engineering Limited
Tenancy: 9 years from 26/09/2022
Current Rent Reserved: £10,800
Rent Reviews: Next due September 2025
EPC: C

Description:
This character three floor building was constructed in 1991 in a style similar to many other building in the town. It is arranged to provide retail accommodation at ground floor level with offices and ancillary space at first and second floors. There is vehicular access to the rear of the building which itself is located in the heart of the town near to all other amenities.

Total Gross Rents reserved:
£148,665 per annum

Tenure:
Held on a lease for a term of 125 years from 10/07/1991 at a ground rent equivalent to 24% of the rack rent value.



Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.


1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.