Lot 145 Mixed Use Commercial Premises With Part Vacant PossessionAuction Date:
26th July 2023
32, 32A & 32B High Street, Maldon, Essex, CM9 5PN
Currently let at £31,000 per annum
Estimated rental valuation £54,000 per annum
Situated in the High Street of the historic market town of Maldon, is this mixed commercial investment made up of three parts.
Two of the three sections of the building are currently let, with the upper parts (Ground Floor entrance) currently vacant. This established building is situated at the top end of Maldon High Street, which has a number of restaurants, shops and professional services and is directly opposite the church.
32A High Street
Restaurant
Main restaurant area, kitchen, two cloakrooms/W.C. and store.
Tenancy
Let on a 20-year lease from 24th June 2008 at a current rental of £15,000 per annum, with rent reviews every fourth anniversary. The rent has not being increased since the initial agreement in 2008.
32 High Street
Retail/Opticians
Main sales area, consultation room, back office and cloakroom/W.C.
Tenancy
Let on a 10-year lease from 4th March 2020 at a current rental of £16,000 per annum. There is a rent review on the 4th March 2023 and every third anniversary and a tenant break 4th March 2025, subject to at least six months prior written notice.
32B High Street
Ground Floor
Entrance reception area with stairs leading to upper levels. There is also stairs leading down to a lobby and office and access to the rear yard from a separate staircase.
First Floor
Five rooms, kitchen, storage cupboard and two cloakrooms/W.C. Stairs leading down to rear lobby.
Second Floor
Four rooms, kitchen and two cloakrooms/W.C.
Tenancy
The offices are currently vacant but previously let at £16,000 per annum. May offer potential for alternative uses, subject to all necessary consents being obtainable.
Local Planning Authority
Maldon District Council. Tel: 01621 854477. Website: maldon.gov.uk.
Auctioneer’s Note
We have been advised by the seller that they hold two Council car parking permits for a private car park to the rear which are included. The permits will be renewed on 1st February for a six-month period and will be assigned to the property. Further information will be available in the legal pack which can be downloaded from the Clive Emson website.
Freehold with Part Vacant Possession
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
