24 High St, Halstead CO9 2AP  - Halstead

LOCATION Halstead is situated midway between Braintree and Sudbury on the A131 with a population of circa 12,000 people. The property is situated in the centre of town in the High Street, the principal retailing area for Halstead.
Substantial red brick house with attractive façade built in the latter part of the 18th Century arranged as stores in basement and offices on ground, first and second floors. The gross internal floor area is circa 4,724 sq ft with car parking for a minimum of 15 cars to the rear.
OUTGOINGS The property is described and assessed in the current Rating List as Office and Premises, Rateable Value £27,000.
PLANNING The property is Listed Grade II*. The property has been used as offices since 1974. Planning consent was granted in June 2008 (08/01168LBC) for the conversion and sub division of the existing building to provide three dwellings. We consider that the property is suitable for alternative uses in the long term which may include residential, restaurant, hotel subject to planning permission.
OTHER The property is let to Premaberg Holdings Ltd under a 10 year Lease commencing 4th April 2016 at a rental of £31,467 per annum. The Lease is on full repairing and insuring terms for a term of 10 years subject to five yearly upward only rent reviews, the Tenant having the right to Break the Lease on six months written notice, time to be of the essence at the end of Year 5. The Lease is subject to a Schedule of Condition. Premaberg was established in 1972, they design and manufacture air intake mist eliminators and filtration systems used to protect gas turbines operating on naval vessels. The group balance sheet for Premaberg Holdings Ltd dated 31st December 2015 states net assets of £3,730,550.
LOCATION Halstead is situated midway between Braintree and Sudbury on the A131 with a population of circa 12,000 people. The property is situated in the centre of town in the High Street, the principal retailing area for Halstead.
Substantial red brick house with attractive façade built in the latter part of the 18th Century arranged as stores in basement and offices on ground, first and second floors. The gross internal floor area is circa 4,724 sq ft with car parking for a minimum of 15 cars to the rear.
OUTGOINGS The property is described and assessed in the current Rating List as Office and Premises, Rateable Value £27,000.
PLANNING The property is Listed Grade II*. The property has been used as offices since 1974. Planning consent was granted in June 2008 (08/01168LBC) for the conversion and sub division of the existing building to provide three dwellings. We consider that the property is suitable for alternative uses in the long term which may include residential, restaurant, hotel subject to planning permission.
OTHER The property is let to Premaberg Holdings Ltd under a 10 year Lease commencing 4th April 2016 at a rental of £31,467 per annum. The Lease is on full repairing and insuring terms for a term of 10 years subject to five yearly upward only rent reviews, the Tenant having the right to Break the Lease on six months written notice, time to be of the essence at the end of Year 5. The Lease is subject to a Schedule of Condition. Premaberg was established in 1972, they design and manufacture air intake mist eliminators and filtration systems used to protect gas turbines operating on naval vessels. The group balance sheet for Premaberg Holdings Ltd dated 31st December 2015 states net assets of £3,730,550.

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