Morelands Industrial Estate and adjacent land, Tile Works ...€¦ · Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

ON BEHALF OF THE FIXED CHARGE RECEIVER:

Morelands Industrial Estate and adjacent land,Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

INDUSTRIAL INVESTMENT OPPORTUNITY WITH AN ADDITIONAL 58.55 ACRES OF GRAZING LAND

Outline for indicative purposes only.

INVESTMENT CONSIDERATIONS

• The Property comprises a multi-let industrial estate on a 13.94 acre site and three additional parcels of land totalling 58.55 acres (72.49 acres overall)

• The industrial estate is occupied by 22 tenants producing a low passing rent of £336,060 per annum

• The three parcels of land are part let to two tenants at a passing rent of £10,000 per annum

• Total current income of £346,060 per annum

• Freehold

• Significant asset management and development opportunities (STP)

• Lapsed planning application for demolition of existing buildings and earth bund and redevelopment for 24 residential dwellings

PROPOSALWe are inviting unconditional offers for the freehold interest.

DATA ROOMFor access to the Allsop data room, please use the following link: https://datarooms.allsop.co.uk/register/morelandsindustrialestate

https://datarooms.allsop.co.uk/register/morelandsindustrialestate


LOCATIONChelmsford is an affluent City in the county of Essex, within London’s commuter belt. It is a major office and regional administrative centre, located approximately 54.7 km (34 miles) north east of central London.

Chelmsford benefits from excellent road communications with the A12 dual carriageway providing access to the M25 motorway (junction 28). The A414 provides access to the M11 and Harlow to the east, with the A130 providing access to Braintree to the north and Basildon to the south.

Chelmsford Railway Station benefits from outstanding high speed connections to London Liverpool Street with a fastest journey time of 34 minutes. During peak times there are 7 trains per hour to London Liverpool Street. Chelmsford Railway Station is the second busiest station in the East of England.

SITUATIONThe property is situated between the villages of Rettendon Common and South Hanningfield approximately 9.7km (6 miles) south east of Chelmsford, 12km (7.5 miles) north of Basildon and 20.9km (13 miles) north west of Southend-on-Sea.

The Estate is accessed from Tile Works Lane via Old Barn Lane which serves a number of traditional style bespoke residential houses. The surrounding area is predominantly rural with the industrial estate being located immediately adjacent to open countryside.

Despite being a rural area, the property benefits from being a short distance from the A130, which leads directly to the A12 trunk road to the north at Howe Green and the A127 trunk road to the south, just east of Basildon.

The property benefits from being approximately 7.2km (4.5 miles) north of Wickford Station which provides direct routes to London Liverpool Street in a journey time of less than 40 minutes.

J27J25J23

J21

J20

J19

J16

J15

J12

J10

J7J8

J9

J6

J5

J3

J2

J29

J28

A414

A414

A127

A12

A130

A13

A13

A10

A41

A41A404

A413

A1

A40

A322

A316

A2

A2

A20

A23

A23

A21

A3

A3

A3

A309

M11

M11

M11 M25

M25

M25

M25

M25

M25

M25

M25

M1

M1

M1

M10

M40

M40

M4

M4

M4

M3

M3

M3

M23

M26

M20

M20

M20

M2

A1(M)

Heathrow

StanstedAirport

20 Mins

CHELMSFORD

LONDON

HARLOWHertford

Epping ChippingOngar

CHELMSFORDHatfield

Enfield

Chigwell

Romford

BillericayWickford

Brentwood

Basildon

HemelHempstead

St Albans

Watford

Wembley

HarrowBrentCross

HighWycombe

Staines

Slough

Windsor

Weybridge

RedhillDorkingGuildford Reigate

Woking

Dartford

Bromley

Gravesend

Shoreham

Croydon

Biggin Hill

Sevenoaks

Epsom

Sutton

Swanley

Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

INDUSTRIAL & LAND INVESTMENT OPPORTUNITY

A130

A132

A132

A414

A414

A127

A12

A12

A130

SouthWoodham

Ferrers

Rettendon

SouthHanningfield

WestHanningfield

HanningfieldReservoir

EastHanningfield

Butts Green

Billericay

Wickford

Heybridge

Hockley

Battlesbridge

Hullbridge

© Crown Copyright, ES 100004106. For identification purposes only.

DESCRIPTIONThe entire property extends to approximately 72.46 acres (29.32 hectares) and provides a multi-let industrial estate and 3 parcels of land which are currently used for grazing. Moreland Industrial Estate originally formed the Rettendon Tile Works, which excavated and manufactured roof tiles. The operation ceased many years ago and the site is now currently occupied by a number of industrial buildings of various sizes, the main cluster being located to the southern point of the site.

Morelands Industrial Estate:

The site extends to approximately 13.94 acres (5.64 hectares) and the property has been sub-divided into 24 plots ranging in size from 0.1 to 1.45 acres with many buildings and yards being used for a number of commercial uses including car crash repairs, vehicle servicing and storage. Some of these plots are surfaced and some unsurfaced with low specification single storey workshop buildings on the surfaced areas.

The property is currently let to 22 tenants on a variety of leases/licenses (see schedule of accommodation).

Additional Land:

The property also includes 3 parcels of grazing land totalling 58.55 acres (23.69 hectares) that surround Morelands Industrial Estate to the north of Tile Works Lane. Access to this land is from Tile Works Lane and Canon Barns Road which leads to East Hanningfield Water Treatment Works. The parcels of land are predominantly rectangular shaped and offer scope for use as a livery/riding stable or other alternative uses (STP).



Def

RH

1.52m RH

Def

1.52m

RH

Def Chelsfield

Lodge

Bromley Lodge

The Retreat

Hunters

Foxley End

Ward Bdy

Und

Def

Pond

Pond

Track

OLD BARN LANE

TILE WORKS LANE

Rettendon Great Common

Greenfields

Laceys Farm

The Ashes

Ward Bdy

1.52m FF

Pond

Pond

Pond

OLD BARN LANE

New House Farm

Barn Cottage

Silverlee

Cabin

Track

Dra

in

D ra in

Line Of Posts

Path (um)

Path

(um

)

A 130

Canon Barns

Tank

44.5m

45.4m

Track

BENNETT'S AVENUE

A 130

Homestead

Ash

Protempore

TheElms

The

Silver

Burnt Oak

Fairview

Four Ayes

HomesteadCottage

TheBungalow

Silver Lodge

Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:6894

SITE AREAS

Use Acres Hectares

Moreland Industrial Estate Industrial 13.94 5.64

Plot 1 Grazing 8.78 3.55



Total 72.49 29.33

TENUREFreehold

PLOT 3

PLOT 2

PLOT 1MORELANDS INDUSTRIAL

ESTATE

SCHEDULE OF TENANCY AND ACCOMMODATION MORELANDS INDUSTRIAL ESTATE (SITE MAP)



Plot Tenant Start Expiry Lease Term £Monthly £Quarterly £Per annum

PLOT A ESSEX AUTO REC 01/08/17 31/07/22 5 years £1,400 £16,800

PLOT B Individual 01/08/17 31/07/22 5 years £1,750 £21,000

PLOT C Individual 01/08/17 31/07/20 3 years £2,000 £24,000

PLOT D USTORE Rolling Monthly £1,500 £18,000

PLOT E & V (BUILDINGS)

unit 1 ADS Rolling Quarterly £600 £2,400

unit 2&6 SDM Rolling Monthly £1,000 £12,000

unit 3 Individual Rolling Monthly £400 £4,800


unit 5 Vacant £0

unit 7 SDM Rolling Monthly £700 £8,400



PLOTS F & U ESSEX AUTO REC 01/08/17 31/07/22 5 years £600 £7,200

PLOT G ESSEX AUTO REC (temp) Rolling Monthly £600 £7,200

PLOT H Individual 01/08/17 31/07/18 1 years £1,250 £15,000

PLOT I Vacant £0

PLOTS J & K EUROPEVANS 01/08/17 31/07/22 5 years £1,750 £21,000

PLOT L EUROVANS Rolling Monthly £900 £10,800

PLOT M Individual 01/08/17 31/07/20 3 years £1,250 £15,000

PLOT N Individual 01/08/17 31/07/20 3 years £1,250 £15,000

PLOT O P & S EUROS LTD 01/08/17 31/07/20 3 years £1,250 £15,000

PLOT P ROMICA (temp) Rolling Monthly £850 £10,200

PLOT Q BOW SERVICES 01/08/17 31/07/22 5 years £2,000 £24,000

PLOT R Vacant 3 years £0

PLOT S Individual 01/08/17 31/07/20 3 years £550 £6,600

PLOT T AUTOS FIRST LTD 01/08/17 31/07/18 1 years £1,150 £13,800

PLOT W INTERROUTE LTD 01/01/17 26/12/41 25 years £41,400

PLOT X BALKN CAR PARTS 01/08/17 31/07/22 5 years £850 £10,200

PLOT 1 (Grazing Land) Individual 01/12/18 £6,000

PLOT 2 (Grazing Land) Individual 01/12/19 £4,000

PLOT 3 (Land) Vacant £0

TOTAL £346,060

Def

RH

1.52m RH

Def

1.52m

RH

Def Chelsfield

Lodge

Bromley Lodge

The Retreat

Hunters

RecyclingBusiness

Foxley End

Ward Bdy

Und

Def

Pond

Pond

Track

OLD BARN LANE

TILE WORKS LANE

Rettendon Great Common

Greenfields

Laceys Farm

The Ashes

Ward Bdy

1.52m FF

Pond

Pond

Pond

OLD BARN LANE

New House Farm

Barn Cottage

Silverlee

Cabin

Track

Dra

in

D ra in

Line Of Posts

Path (um)

Path

(um

)

A 130

Canon Barns

Tank

44.5m

45.4m

Track

BENNETT'S AVENUE

A 130

Homestead

Ash

Protempore

TheElms

The

Silver

Burnt Oak

Fairview

Four Ayes

HomesteadCottage

TheBungalow

Silver Lodge

Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:6894

A

BJ

I

H

LM

NO P C

Q

RS

T

D

EV

FU

G

WXK

ASSET MANAGEMENT POTENTIALThe property offers a number of asset management opportunities, including:

a) Lease Renewals: Much of the income is on short term tenancies at low rental levels. These can be re-geared for an extended term and in line with market rent.

b) Capital Expenditure: The investment provides the purchaser the opportunity to further enhance rental value through refurbishing and or extending units.

c) Conversion to residential: Subject to planning, the site presents an excellent opportunity to obtain planning permission to convert the industrial estate to residential (see below).

d) Land: There is the real opportunity of maximising the potential of the land by considering a livery/riding school or other alternative uses (STP).

PLANNINGIn 2014 outline permission was granted for demolition of existing buildings and earth bund and redevelopment for 24 no residential dwellings, new Paddock and Public open Space with associated access, landscaping and infrastructure (14/01657/FUL).

Within the existing Local Plan, under the Site Allocations Plans (2012), Moreland Industrial Estate is allocated as a ‘New Residential Development Site’ and a ‘Specialist Residential Development Site’ (Policy DC35).

The grazing land (Plots 1, 2 & 3) is designed as ‘Green Belt’ and therefore subject to Policy’s CP12, CP13, CP14 under the existing Local Plan.

The new Local Plan which will used to guide planning in Chelmsford until 2036 is currently under consultation and is set to be adopted in early 2019. More information on the new Local Plan can be found here:

https://www.chelmsford.gov.uk/planning-and-building-control/planning-policy-and-new-local-plan/new-local-plan/developing-the-new-local-plan/

ENVIRONMENTAL CONSIDERATIONAn Environmental Assessment Report was undertaken by GVA in September 2014 and is available within the data room. The conclusion alludes that although contaminants have been identified, the site is satisfactory for its existing use. However, remedial works will be required for future alternative uses.






Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 05.18

Receiver caveat: This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely on their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of the sale without personal liability.

James Salmon020 7543 6880

[email protected]

For further information or to make arrangements for viewing please contact:

Ronnie Morgan020 7543 [email protected]

www.allsop.co.uk

EPCEPC’s available upon request.

VATThe property is not VAT elected.

DATA ROOMFor access to the Allsop Data Room, please use the following link:


PROPOSALWe are inviting unconditional offers for the freehold interest.


Documents

Morelands Industrial Estate and adjacent land, Tile Works ...€¦ · Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB