Francis House 4 Freebournes Rd Industriel/Logistique 8 307 m² À vendre Witham CM8 3UN 8 094 446 € (974,43 €/m²) Taux de capitalisation 7,07 %

The property comprises a detached purpose-built industrial premises constructed in the mid 1990's with an impressive minimum eaves height of approximately 12.20m rising to 16.80m at the apex. The industrial area benefits from four loading doors to the rear elevation and LED lighting. At the front of the property is a well presented two-storey office section which provides reception, open plan and private offices, meeting rooms and staff facilities. The offices have been fitted out to a very high standard and benefit from suspended ceilings with LED lighting and a combined heating / ventilating / air conditioning system. At the front of the property is a secure car park which provides parking for approximately 80 vehicles.

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
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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[use Contact Agent Button] 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
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