Hunters are pleased to offer the sale of this Freehold commercial building with planning approved for ground floor commercial premises and 6 apartments above. Total Approximate Floor Area: 7876 sq ft.
This rare development opportunity is located in the prominent position of Bank Street within the heart of Braintree town centre backing on to The George Yard shopping centre. Braintree is an historic market town located approximately 12 miles north of Chelmsford and 17 miles east of Bishop's Stortford. Stansted Airport lies approximately 14 miles to the west via the A120, and 40 miles north east of central London nearby occupiers include Santander, New Look, Iceland, Vision Express, Barclays and The George Yard shopping centre. Also benefiting from local restaurants and coffee shops.
Part of Bank Street is pedestrianised, although not outside the subject property. Bank Street joins the High Street, also partly pedestrianised, to the south of George Yard. The junction of the High Street and Bank Street is considered to be the best retail location in the town centre. The subject property is considered to be on the better, western side of Bank Street where the pedestrian flow is markedly better than that on the eastern side.
The approved planning is arranged as ground commercial with 4 x 1 Bedroom Apartments and 2 x 2 Bedroom Apartments above.
The full planning application can be found on Braintree District Council website - Application No: 18/00601/FUL
• Gross Frontage: 41'1'', Internal Width:39'2'', Shop Depth: 87'8'',
• Ground Floor: Sales 3,006 Sq. Ft.,
• First Floor: Sales 2,360 Sq. Ft.,
• First Floor: Storage 750 Sq. Ft.,
• Second Floor: Staff / Storage 775 Sq. Ft.,
• Basement 985 sq ft
A 15 years lease for the ground floor has been provisional secured at the Base rent £40,000 per annum for the first 2 ½ years from commencement. Thereafter £45,000 per annum from 2 ½ years – end of the 4th year.
The purchase in not subject to this lease.
The rateable value is £74000 with approx. rates payable of £34,900pa payable
We are advised that the property is freehold but they have not checked the legal documents to verify this. The buyer should obtain confirmation from their solicitor or surveyor.
SERVICES AND APPLIANCES
The agents have not tested any apparatus, equipment, fixtures, fittings or services and cannot verify they are in working order or fit for the purpose. The buyer should obtain confirmation from the solicitor or surveyor
Vacant on completion