Property photos
£2,350,000
(£283.02/sq. ft)
Retail premises for sale
High Street, Maldon CM97,950 sq. ft
Local area information
Property location
Nearby amenities
- Maldon Court Preparatory School 0.1 miles
- Plume School 0.2 miles
- Hatfield Peverel 5 miles
- Witham 5.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Maldon to find out more about the local area.
Features and description
- Mixed- use
- Development potential
We are pleased to bring to market an excellent investment opportunity. The property is a mixed-use building comprising a large commercial unit on the ground floor. 3 flats on the first floor, a large area on first floor with planning for 2 very large flats and a large car park.
The details for the existing is as follows:
- 6,636 sqf ground floor commercial unit let to Poundstretcher for £105,000 until 1/11/2030 with a break in 2025. The unit has 58’ frontage.
- 3x 2-bedroom maisonettes above Poundstretcher. Passing rent of c. £30,000
- 2 x 1,315 sqf flats which will be converted to a 12 unit HMO (erv of £110,000) at rear
- Warehouse structure to be built at rear (erv of £25,00)
- Total passing rent of £135,000 (erv of £270,000)
Potential angles:
- Re-gear commercial lease to Increase rental income and extend term (who were paying £145,000 pre-covid)
- Increase rents from maisonettes.
- Lapsed planning for 5 flats using the storage area and part of the car park. Ref 19/00816/ful with Maldon District Council. So potential to resubmit or submit new plans to add a floor
- Add a floor on to the HMO unit to make two penthouse style flats
Location:
Maldon is a riverside town in Essex, England. It is the seat of the Maldon District, which has a population of over 67,000. It is located 40 miles northeast of London.
Occupiers close by include Iceland Supermarket, Costa, wh Smith and a range of local and national retailers.
Vanderwald Estates have represented the information here based on information provided by the vendor. All potential buyers should only rely on their own due diligence and inspections.
The details for the existing is as follows:
- 6,636 sqf ground floor commercial unit let to Poundstretcher for £105,000 until 1/11/2030 with a break in 2025. The unit has 58’ frontage.
- 3x 2-bedroom maisonettes above Poundstretcher. Passing rent of c. £30,000
- 2 x 1,315 sqf flats which will be converted to a 12 unit HMO (erv of £110,000) at rear
- Warehouse structure to be built at rear (erv of £25,00)
- Total passing rent of £135,000 (erv of £270,000)
Potential angles:
- Re-gear commercial lease to Increase rental income and extend term (who were paying £145,000 pre-covid)
- Increase rents from maisonettes.
- Lapsed planning for 5 flats using the storage area and part of the car park. Ref 19/00816/ful with Maldon District Council. So potential to resubmit or submit new plans to add a floor
- Add a floor on to the HMO unit to make two penthouse style flats
Location:
Maldon is a riverside town in Essex, England. It is the seat of the Maldon District, which has a population of over 67,000. It is located 40 miles northeast of London.
Occupiers close by include Iceland Supermarket, Costa, wh Smith and a range of local and national retailers.
Vanderwald Estates have represented the information here based on information provided by the vendor. All potential buyers should only rely on their own due diligence and inspections.
More information
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