Unit 10, Freeport Office Village, Braintree, Essex, CM77 8YG
Guide Price* : £410,000
Fully Let Office Investment
- Fully let office investment
- Current income of £37,400 per annum
- High quality specification in a modern office setting
- Parking included (ratio 1:253 sq ft)
- Guide price of £410,000 reflects a Net Initial Yield of 8.71%
- Guide price reflects a low capital value of £179 per sq ft
Unit 10 comprises a two storey brick built modern office building having the benefit of 9 parking spaces (including one disabled space).
The ground floor totals approximately 1,205 sq ft and comprises mainly open plan space, with one large meeting room/office, kitchenette and storage /comms room. The 1st floor comprises a front suite of 508 sq ft and a rear suite of 570 sq ft with a shared kitchenette.
Freeport Office Village is adjacent to the Braintree Village Retail Outlet just off the A120. Accessed from Century Drive off Millennium Way, the office village benefits from excellent road and rail communications.
Braintree Freeport Railway Station is within 2 minutes walk and provides a regular direct service to London Liverpool Street.
The property is let on three separate leases producing a total annual income of £37,400. Please see the Tenancy Schedule provided under "related documents" on the right hand side of the page.
We understand the property has been elected for VAT and that it is envisaged the sale will be dealt with as a TOGC
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton July 2021
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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