For Sale By Auction | 19:00, 17 December 2019

44 - 46 Mill Road, Maldon, Essex, CM9 5HZ

*Guide | £385,000 (plus fees)

  • Commercial Property
  • 2 Bedrooms
  • Tenure: Freehold

Call the team on 01702 33 33 99 for more information

Auction Date

Tue 17/12/2019

Auction Time

19:00

Auction Venue

Crondon Park Golf & Country Club Stock Road, Stock, Ingatestone, CM4 9DP

A MIXED COMMERCIAL/RESIDENTIAL FREEHOLD INVESTMENT CURRENTLY PRODUCING £33,400 P.A. REPRESENTING A YIELD OF OVER 8.5% IF PURCHASED AT GUIDE PRICE

The property comprises two ground floor lock up shops and a self contained first floor two bedroom flat within a terraced building arranged over ground and first floors.

Tenure

Freehold

LOCATION

Mill Road is located off the High Street in the market town of Maldon. The open spaces of Maldon Promenade and park are within walking distance. The main A414 road is nearby and provides easy access to Chelmsford City centre.

ACCOMMODATION

44 Mill Road - Ground Floor: Shop with WC First Floor: Reception Room, Two Bedrooms, Kitchen and Bathroom/WC 46 Mill Road - Ground Floor: Shop with WC

TENANCIES

44 Mill Road - The shop and flat are let on a FRI lease for a term of 20 years from 20th August 2010 at an annual rent of £23,400 46 Mill Road - Is let on a FRI lease for a term of 3 years from 19th July 2019 at an annual rent of £10,000

EXTERIOR

There is a yard to the rear.

VIEWING

Strictly by appointment with the Auctioneers - Tel: 01702 333399 and at the courtesy of the tenants.

Energy Efficiency Rating (EPC)

Current Rating 44 - C, 46 - B, Flat - D

Local Authority

Maldon District Council

Additional Fees

Administration Charge - 0.6% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.