1. Properties
  2. Ground Floor, 141-147 High Street, Brentwood, CM14 4SA
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  • For Sale
  • Offers Over £700,000
  • Ground Floor, 141-147 High Street, Brentwood, CM14 4SA
  • Commercial Investment

Commercial Investment

| November 4, 2024

Executive Summary

  • Situated in the heart of Brentwood surrounded by a number of well-known occupiers
  • Arranged over ground floor measuring approximately 2,668 square feet (247.87 square meters)
  • Let to 24 Fresh Fitness Ltd t/a Anytime Fitness on a 10-year lease from April 2024 with a current passing rent of £73,000 per annum
  • Brentwood railway station (Elizabeth line - Crossrail) approximately 500 meters away providing a direct service to London Liverpool Street
  • Offers are invited in excess of £700,000. A sale at this level represents a gross yield of 10.4%, or an approximate capital value of £260 per square foot

Location
Brentwood is located 20 miles north-east of Central London and 10 miles south-west of Chelmsford. The property is situated within the town centre in a prominent corner position. Brentwood railway station is 500 meters away and is on the Elizabeth line providing regular services to London Liverpool Street. The area is well served by buses. Access to junction 28 of the M25 and the A12 is 1.5 miles away.

Please note all times and distances given are approximate only.

Description
Arranged over ground floor only and part of a recently built mixed-use scheme the property is 2,668 square feet (247.87 square meters). It is due to be fitted out by the tenant as a gym and training studio. Works are expected to complete Q1/Q2 2025.

Please note that these sizes given are approximate only and all interested parties are advised to rely on their own inspection and survey.

Lease
Currently let on a 10-year lease to 24 Fresh Fitness Ltd t/a Anytime Fitness - Anytime Fitness. The lease commenced April 2024 with a current passing rent of £73,000 per annum. The lease allows for an RPI linked rent review at the end of year 5.

The tenant has operated from the building opposite since December 2023 and plans to expand into this property Q1/Q2 2025 to provide additional studio space.

Tenure
The property will be sold by way of a new 999-year lease with a peppercorn ground rent and subject to the existing occupational lease.

VAT
The property has been elected for VAT.

Terms
Offers are invited in excess of £700,000. A sale at this level represents a gross yield of 10.4%, or an approximate capital value of £260 per square foot.

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The Site and all the content on the Site is provided for use "as is" and "as available" and any reliance upon the same is at your sole risk. Whilst We take all reasonable care to ensure that the content on this Site is accurate, We cannot guarantee its accuracy and We reserve the right to change the content on this Site at any time. We make no representations or warranties of any kind with respect to this Site or the content of the Site, including any text, graphics, advertisements, links or other items. Further more, neither We nor any other contributor to this website make any representation or gives any warranty, condition, undertaking or term either expressed or implied as to the condition, quality, performance, accuracy, fitness for purpose, completeness or freedom from viruses of the content contained on the Site or that such content will be accurate, up to date, uninterrupted or error free.



If you are looking to sell, let, or acquire a commercial, investment or development property or would like to know more about our asset or property management services, please contact our office to discuss.

Contact Info

Office Address

Harston&Co

247 High Road

South Woodford

E18 2PB

Phone Call

020 3371 0061

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Harston Property Ltd t/a Harston&Co. Registered office: 7 The Shrubberies, George Lane, London, E18 1BD. Registered in England. Registered number: 10618714.

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