Industrial unit for sale

The property comprises a detached warehouse premises which has been extended over time. The warehouse is made up of four parts with varying eaves heights. The original building has a minimum eaves height of 3.90m rising to 7.50m to the underside of the apex. The more recent additions have a minimum eaves height of 7.65m and 8.93m rising to 10.00m and 13.42m to the underside of the apex. The warehouse is accessed via four large loading doors (5.50m wide and 5.30m high) and four smaller loading doors of varying sizes. There are two additional loading doors around the far side of the building. At the front of the warehouse is a two story office section which provides a mix of reception, offices, meeting rooms and staff welfare facilities. Externally the property benefits from a good sized concrete surfaced yard which provides ample space for loading and unloading.

LOCATION
The property is located on the established Freebournes Industrial Estate adjacent to the A12 which provides convenient access to Junction 28 of the M25 (22 miles) to the south and the east coast ports of Harwich and Felixstowe to the north east. Access to the M11 and Stansted Airport is via the A120 from Braintree which is linked to Witham via the B1018. Witham Station provides a frequent service to London Liverpool Street with a journey time of approximately 45 minutes.

ACCOMMODATION
[Approximate Gross Internal Floor Areas]
Ground
Warehouse - 71,010 sq ft [6,596.99 sq m]
Office/WC/Staff Facilities - 2,959 sq ft [274.95 sq m]
First
Office/WC/Staff Facilities - 3,715 sq ft [345.15 sq m]
Total - 77,684 sq ft [7,217.09 sq m]
The total site area measures 2.62 acre. [Measured online using Promap]

SERVICES
We understand the property is connected to mains water, drainage, gas and three phase electricity. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.

ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised the property falls within Class C (51) of the energy performance assessment scale. A full copy of the EPC assessment and recommendation report is available upon request.

PLANNING
We understand the property has a longstanding B8 Use. We advise all interested parties to contact the Local Authority for further information.

LOCAL AUTHORITY
Braintree District Council
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WITHAM INDUSTRIAL WATCH
Witham Industrial Watch was set up by a network of local businesses to provide amongst other things, effective estate management and enhanced security throughout the towns industrial areas. By obtaining Business Improvement District funding WIW has employed an estate manager, installed Automatic Number Place Recognition and improved signage throughout the industrial areas. Further information can be found at
TENURE
The property is held freehold under title no: EX182010.

BUSINESS RATES
We are advised that the premises has a rateable value of £392,500. Therefore estimated annual rates payable of approximately £214,305 (2024/25).

TENANCY
The property is let to Simarco International Limited on a Full Repairing and Insuring Lease subject to a Photographic Schedule of Condition for a term of 5 years from the 17th January 2024 at a passing rent of £477,885 per annum. The lease is contracted outside the Landlord and Tenant Act. A copy of the lease is available upon request.

COVENANT
Simarco International Limited were incorporated in 1997 and as at 31st December 2023 had a turnover of £84,057,481 and a Pre-Tax Profit of £5,306,449. They have an Experian rating of 100/100 and are classed as Very Low Risk. An Experian Report is available upon request.

TERMS
The property is offered for sale freehold subject to the existing lease to Simarco International Limited. Our client is seeking offers in excess £5,500,000 which reflects a Net Initial Yield of 8.19% assuming purchasers costs of 6%.

VAT
We understand the property is elected to VAT, however the sale should be eligible to be treated as a Transfer of Going Concern and VAT may not be applicable.

LEGAL COSTS
Each party to bear their own legal costs incurred in this transaction.

ANTI-MONEY LAUNDERING REGULATIONS
Anti-Money Laundering Regulations require Fenn Wright to formally verify a prospective purchaser's identify prior to the instruction of solicitors.

VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE SELLING AGENTS:

Fenn Wright
64 Newland Street
Witham
Essex
CM8 1AH

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James Wright
E: [use Contact Agent Button]