MODERN SINGLE STOREY LIGHT INDUSTRIAL, STORAGE, TRADE COUNTER, OFFICE PREMISES

Lease to Assign / A new Lease maybe available subject to Landlords Consent

1 REDBRICKS, CENTRAL HOUSE ONGAR CM5 9AA

665sq ft (61.84m2)

Other Details

Accomodation

Comprising a modern single storey brick-built unit located to the rear of Central House laid out in clear space, measuring approximately 665sq ft with disabled WC facilities and 2 demised car parking spaces immediately outside.

Amenities

• Electrically operated roller shutter • Open Plan Space • Suitable for a range of uses - subject to Planning if required. • 2 Demised car parking spaces • Electric roller shutters

Lease

Available by way of an Assignment of our clients existing FRI Lease which was for a term of 5 years from 22nd March 2022. The Lease is drawn outside the provisions of the Landlord & Tenant Act. Alternatively A new FRI Lease can be made available subject to Landlords consent, conditional on the simultaneous surrender of the existing lease.

Rent

Currently subject to a rent review where notice has been served at £13,500 pax, paid quarterly in advance. Alternatively, if a new lease is entered into, the commencing rent will be £13,500pax. VAT is applicable.

Rates

Rateable Value 2024/2025 - £7,200 Business Rates are not payable on properties with a Rateable Value up to £12,000. From £12,001 to £15,000 there is tapered relief. If a company occupies a second property where the RV is over £12,001 then relief is lost on the first property although the benefit may remain for a short period. It is a tenant’s responsibility to make their own enquiries & satisfy themselves whether they are eligible for rate relief in part or whole.

Legal Costs

Assignment - Each party are to be responsible for their own legal costs & will be jointly responsible to meet the Landlords costs to obtain consent to the Assignment. New Lease – The ingoing tenant will be responsible for the Landlords legal costs to grant a new Lease. ADMINISTRATION FEE: Upon terms being agreed and prior to Solicitor’s being instructed, the prospective tenant or purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

Possession

Immediate upon completion of legal formalities & subject to the simultaneous surrender & grant of the new Lease if applicable.

Viewing

Strictly by prior appointment