Retail premises for sale in Challis Lane, Braintree, Essex CM7

Property Ref: 13433

investment freehold for sale (subject to existing retail lease and 1st floor flat leasehold)

lock up corner shop with 1st floor 2 bedroom flat (subject to long lease)

* Close to neighbourhood Shopping Centre * Parking for up to 3 cars on private area

rent:
A) £11,880 per annum, commercial retail income (Trading as a Premier Convenience Store)
B) £125,00 per annum, ground rent from 1st floor residential flat

Total: £12,005.00 Per annum

building expenses/costs:
Each leaseholder is responsible for 50% of the building costs and repairs (including building insurance, repairs, painting & decorating, fire alarm cost and servicing). Full details upon request within the existing leases

lease terms:
A) Retail leaseholder. Lease term is until 2038. Rent review every 5 years (next review 2029)
The previous tenant entered into an authorised guarantee agreement to guarantee the existing leaseholders rent/obligations

B) 1st floor flat lease term is 99 years from 29 September 1988. With the potential of a reversionary interest in the lease extension as the lease term is under 64 years remaining (reversionary value and interest subject to government leasehold legislation, please consult with your legal team)

Location

This property is located in a prominent position on the corner of Challis Lane and Buckwoods Road
and is close to a neighbourhood shopping centre and within walking distance from Notley High School
and John Ray Junior school.

Description

This retail unit has a main net frontage of 13 ft with a return frontage onto Buckwoods Road. The retail
space including a separate storage area under the stairs. There is a single wc at the rear of the unit.
33a Challis Lane. The retail area includes a suspended ceiling.
The property benefits from a maintained / serviced fire alarm

Externally there is a parking area for up to 3 cars.

Doorway externally to 1st floor 2 bedroom flat, which is subject to an existing lease

Amenities

Energy Performance Certificate - The property has an energy rating of D
Please contact our office if you would like a copy of the full report.

Services

The property generally has mains electricity/gas/water and drainage. Please note that the freeholder/seller has not
tested any of the services.

Terms

The property is available for sale as an investment freehold (subject to the existing leases) at a guide price of £189,000

Outgoings

Applicants are welcome to make enquiries direct with Braintree District Council telephone no .
Business rates and council tax are the responsibility of the existing leaseholders

Legal costs

Each party is responsible for their own legal costs.
Prospective purchaser to give an undertaking for the sellers legal costs should they abort from the sale once solicitors are instructed up to a maximum of £2,000 + VAT

Parking notes

Up to three spaces

Other

EPC rating D - see reports

Viewing

Strictly by appointment with Epic Properties Limited.
Telephone Whattsapp: Email:

Information:
Subject to our Data protection / gdpr policy. A copy of which is available upon request

These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. Any areas, measurements or distances are approximate. The text/wording, photographs and plans are
for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and the freeholder has not tested
any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise through their legal team..

For viewing arrangement, please get in touch with 99home.

If calling, please quote reference: 13433

gdpr Applying for the above property means you are giving us permission to pass your details to the vendor or landlord for further communication related to viewing arrangement or more property-related information.
*Virtual viewings: Some or all information pertaining to this property may have been provided solely by the vendor/landlord, and although we always make every effort to verify the information provided to us, we strongly advise you to make further enquiries before continuing. If you choose to make an offer based solely on a virtual viewing, then 99Home Ltd does not accept any liability for errors in the information provided, including but not limited to, measurements, photography and video content.

Aml: To comply with government Money Laundering Regulations 2019, we are required to confirm the identity of all prospective buyers. We use the services of a third party, , who will contact you directly at an agreed time to do this. They will need the full name, date of birth and current address of all buyers. There is a nominal charge of £20 per buyer, payable direct to AMLTeam . Please note, we are unable to issue a memorandum of sale until the checks are complete.
Referral fees We may suggest reputable providers of supplementary services, such as Conveyancing, Financial Services, Insurance, and Surveying. If you choose to utilize their services based on our recommendation, we may receive a commission payment or another form of benefit, referred to as a referral fee. It's important to note that you are not obligated to engage with the services of the recommended provider.

*Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering any household goods, carpets or any built-in furniture.
*General: While we endeavor 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 99home and we will be pleased to check the detailing for you, especially if you are contemplating traveling some distance to view the property.
*99home is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.