Francis House, Freebournes Road, Witham, Essex, CM8
- SIZE AVAILABLE
88,405 sq ft
8,213 sq m
- SECTOR
Light industrial facility for sale
Key features
- Reversionary Industrial Investment
- Currently Generating £495,000 Per Annum Exclusive Reflecting a Low Rate of £5.60 Per Sq. Ft
- Let to Crittall Windows Ltd (Company No 00200794)
- Unbroken 10 Year Term from 21st March 2022
- Review on the 5th Anniversary of the Lease Term
- "B" Rated Energy Performance Certificate
Description
LOCATION
Francis House is prominently situated at the end of Freebournes Road on the Established Freebournes Industrial Estate less than 300 metres from Junction 22 of the A12. The A12 provides convenient access to Junction 28 of the M25 to the south and the east coast ports of Harwich and Felixstowe to the north east via its connection with the A120 and A14 respectively. 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 services to London Liverpool Street with a journey time of approximately 45 minutes.
ACCOMMODATION
[Approximate Gross Internal Floor Areas]
Ground
Industrial/Warehouse - 73,896 sq ft [6,865.00 sq m]
Office/WC/Staff Facilities - 6,193 sq ft [575.00 sq m]
Plant Rooms - 2,123 sq ft [197.00 sq m]
First
Office/WC/Staff Facilities - 6,193 sq ft [575.00 sq m]
Total: 88,405 sq ft [8,212.00 sq m]
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 B (50) 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 B2 Use. We advise all interested parties to contact the Local Authority for further information.
LOCAL AUTHORITY
Braintree District Council
T.
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
BUSINESS RATES
We are advised that the premises has a rateable value of £480,000. Therefore estimated annual rates payable of approximately £262,080 (2025/26).
TENURE
The property is held on a Long Leasehold basis for a Term of 125 years from 1st April 2015. We understand the Ground Rent is currently £42,309 per annum. Further information is available upon request.
TENANCY
The property is let to Crittall Windows Limited (Company No 00200794) on a Full Repairing and Insuring Lease for an unbroken 10 year Term from the 21st March 2022 at a passing rent of £495,000 per annum. There is an upward only market Rent Review on the 5th anniversary of the Lease Term. A copy of the Lease is available upon request.
COVENANT
The property is let to the renowned steel window manufacturer, Crittall Windows. Crittall Windows roots trace back to the mid-1800s, when Frances Berrington Crittall and his son Francis Henry Crittall established their window manufacturing business in Braintree, Essex. Crittall Windows Limited was incorporated as a limited company in 1924. Nearly 200 years of exceptional craftsmanship have earned Crittall a reputation synonymous with quality steel windows and doors. In order to protect this longstanding legacy, the word Crittall was registered with UK Trademark No. UK on 22nd June 1928. (Source:
Crittall Windows Limited were incorporated in 1924 and as at 29th March 2024 had a turnover of £15,484,000 and a Pre-Tax Profit of £622,000.
TERMS
The property is offered for sale on a long leasehold basis subject to the existing lease to Crittall Windows Limited. Our client is seeking offers in the region of £7,000,000.
VAT
We understand the property is elected to VAT, however the sale may be eligible to be treated as a Transfer of a Going Concern.
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 identity prior to the instruction of solicitors.
VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE SELLING AGENTS:
Contact:
James Wright
E:
Brochures
Francis House, Freebournes Road, Witham, Essex, CM8
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Witham Station0.5 miles
- Hatfield Peverel Station3.1 miles
- White Notley Station3.2 miles
Notes
Disclaimer - Property reference 14870757FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Fenn Wright, Chelmsford Commercial Sales and Lettings. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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