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Lot: 71 - TOWN CENTRE COMMERCIAL INVESTMENT PROPERTY - View of Central Buildings on the corner of Newland Steet and Maldon RoadLot: 71 - TOWN CENTRE COMMERCIAL INVESTMENT PROPERTY - Side view of Central Buildings from Maldon RoadLot: 71 - TOWN CENTRE COMMERCIAL INVESTMENT PROPERTY - Photograph 1 of the basement areaLot: 71 - TOWN CENTRE COMMERCIAL INVESTMENT PROPERTY - Photograph 2 of the basement areaLot: 71 - TOWN CENTRE COMMERCIAL INVESTMENT PROPERTY -
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Lot 71 Town Centre Commercial Investment PropertyAuction Date:
6th February 2025

Central Buildings, 39-41 Newland Street, Witham, Essex, CM8 2BD

£324,000

Currently let at £34,710 per annum

Category Commercial Investment
Tenure Freehold

Key Features

Town centre location
Commercial investment

Central Buildings is a freehold building set at the heart of Witham town centre on the main shopping street which features shops, bars, restaurants and supermarkets. Situated on the corner of Newland Street (B1389) and Maldon Road (B1018), Central Buildings is well placed to be highly visible to passing trade. There are regular bus routes from Newland Street and Maldon Road and Witham Railway Station offers a direct service to London (Liverpool Street) as well as good vehicular access to the A12 to Chelmsford and Colchester.

Arranged over three levels, the building is currently occupied with tenants in both shops and both offices above. We understand from our Joint Auctioneers that there is also a basement level. The property may offer future potential for alternative uses, subject to all consents being obtainable.

39 Newland Street

Ground Floor

Shop unit with cloakroom/W.C.

Tenure

Let under the terms of a commercial lease for which the current tenant is holding over from an initial period of 6 years from 25th December 2010 at a current rental of £6,500 per annum.

EPC Rating

D (85). Floor area 26 sq.m.

41 Newland Street

Ground Floor

Shop unit that wraps around with secondary entrance on Maldon Road. Office, W.C. and storage area. Side entrance to first and second floor levels.

Tenure

Let under the terms of a commercial lease for which the current tenant is holding over from a period of 12 years from 31st August 2011 at a current rental of £12,500 per annum.

EPC Rating

E (110). Floor area 63 sq.m.

First Floor

Landing, entrance lobby, main office area and three further rooms.

Tenure

Let under the terms of a commercial lease for a period of 3 years from 1st August 2024 at a current rental of £8,750 per annum.

EPC Rating

D (77). Floor area 129 sq.m.

Second Floor

Landing, male and female cloakroom/W.C. and kitchenette area. Entrance into main office area with two further rooms.

Tenure

Let under the terms of a commercial lease for a period of 3 years from 1st June 2022 at a current rental of £6,960 per annum.

EPC Rating

E (109). Floor area 129 sq.m.

Viewing

External only as all premises are currently trading.

Auctioneer's Note

At the time of publication an internal inspection of the property has not been possible and the accommodations details have been provided by our Joint Auctioneers. Interested parties must rely on their own enquiries.

Local Planning Authority

Braintree District Council. Tel: 01376 557779. Web: braintree.gov.uk.



Central Buildings, 39-41 Newland Street, Witham, Essex


There is an addendum available to be read
in conjunction with the legal documentation.

Joint Agents

Elwell Taylor Ltd

Elwell Taylor Ltd
01245 266088

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