37, 37A & 37B, High Street, MALDON, Essex - CM9 5PF

Guide Price: £450,000

Beds: 3
Type: Terrace
Tenure: No data

Past Auction - See Local Market Data For Sales Info

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Property Details

Barnard Marcus describes this property as:

Prime retail investment with residential upper part. High street location opposite Marks & Spencer. Character building with potential. Investment producing £31,800 per annum. Location: This character building holds a prime position within the high street of Maldon adjoining the historic Moot Hall, home of Maldon Town Council and opposite Marks & Spencer Food Hall. Other major occupiers in the High Street include Greggs, NatWest Bank, Boots, Halifax, Superdrug, Iceland and many more. The High Street is the main shopping area of Maldon which provides services to a densely populated surrounding residential catchment together with additional trade from outlying areas. Maldon itself lies near the mouth of the River Chelmer and is a popular Essex Town with the A12 lying to the north and the A414 to the south west. Description: The property comprises this character and historic mid terrace building with dormer windows to the first floor front elevation. The ground floor is arranged to provide two separate retail units with the right hand flower shop benefiting from extensive rear yard and external storage areas. Above this at first and second floor levels is “Poole House” (37B High Street) which is currently arranged to provide a substantial two floor maisonette with its own front street entrance to the High Street. Tenancy/accommodation: 37 High Street – Accommodation: Ground floor retail Zone A 24.3sqm (261.5sq.ft.) Retail Zone B 2.3sqm (24.7sq.ft.) Workshop 13sqm (139.9sq.ft.) Office 1.5sqm (16.1sq.ft.) Kitchen 8.7sqm (93.6sq.ft.) Store 3.7sqm (39.8sq.ft.) Cold Store 6.8sqm (73.1sq.ft.) External storage 5.2sqm (56.4sq.ft.) Total area 65.5sqm (705.4sq.ft.) – Tenancy: The property is let to J.W and J.E Kara t/a Talking Flowers for 20 years from 01/12/2004 with rent reviews every 5 years – Rent reserved: £11,040 pa – Note: Current rent effective 2019, reversion 2024. 37A High Street – Accommodation: Retail Zone A14sqm (150.6sq.ft.) Retail Zone B 10.5sqm (113.0sq.ft.) Total area 24.5sqm (263.7sq.ft.) – Tenancy: The property is let to Mr and Mrs Harden t/a Ascension Hair for 11 years and 5 months from 01/07/2017 with rent review 01/07/2018 and then every 5 year – Rent reserved: £8,760 pa – Note: Next review due 2023. Pool House 37B High Street – Accommodation: Self contained two floor maisonette comprising: Three bedrooms Two reception rooms Kitchen, bathroom/WC, separate WC – Tenancy: Let on a renewed AST for 12 months from April 2020 – Rent reserved: £12,000 pa. Total rent reserved: £31,800 per annum. Note 1: The property offers enormous potential for sub division of the upper floors and conversion subject to necessary consents where required. Purchasers are deemed to rely on their own enquiries with regard to planning consents required. Total rent reserved: £31,800 per annum. ...

Auction Details

Auctioneer:
Barnard Marcus
Auction date:
08:30 - 28 Jul 2020
Venue:
Remote Bidding

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Go to the Barnard Marcus Website

Local Market Data

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