WOODREDON FARM AND EQUESTRIAN CENTRE

WOODREDON FARM AND EQUESTRIAN CENTRE Woodredon Farm Lane, Waltham Abbey, EN9 3SX
Equestrian / Development / Investment Opportunity
2Woodredon Farm and Equestrian Centre Woodredon Farm Lane
EXECUTIVE SUMMARY • Well-appointed equestrian complex
let on a commercial lease, with an unexpired term of approximately 6 years.
• Including: Grade II Listed Georgian house, pair of cottages, 64 stables, outdoor manège and indoor riding school;
• 34 acres of paddock land;
• Three bedroom vacant farm cottage;
• Income of £53,032.96 per annum;
• Circa 31,874 sq ft of residential and commercial space, with potential for development (subject to planning);
• Offers invited
LOCATION The Site is situated in a readily accessible location, immediately within the M25, approximately 2.6 km (1.6 mi) to the north west of Loughton and 3.6 km (2.2 mi) to the east of Waltham Abbey. Junction 27 of the M25 and Junction 6 of the M11 are located approximately 5.0 km (3.1 mi) to the east.
SITE DESCRIPTION The Site is currently leased to an equestrian business on a 25 year term at a rent of £45,000 pa, with approximately 6 years unexpired on the lease. The equestrian centre has a rateable value of £42,750. The Site is being disposed on a part freehold, part leasehold basis.
The freehold area of the Site includes the built-up part of the current equestrian centre lease, including: Woodredon Farm House (a Grade II listed Georgian house), a pair of semi-detached cottages known as 1 & 2 White Cottages, various stable blocks amounting to 64 stables in total, together with an indoor riding school, lunging ring, various barns and ancillary buildings in association with the equestrian centre.
The leasehold area of the Site includes the paddock land, which extends to approximately 34 acres and is divided into small paddocks, together with a Vodafone Radio Base Station and outdoor manège.
The Vodafone Radio Base Station is located to the east of the Site and is currently let, with the tenant holding over at a rent of £8,032.69 per annum.
The Site is situated within the planning jurisdiction of Epping Forest District Council and within the Green Belt.
Aerial picture facing south August 2021Aerial picture facing north August 2021
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DEVELOPMENT OPPORTUNITIES The Site has an extensive planning history dating back to 1909. The earlier applications are largely related to the Site’s previous agricultural use. The Site is now used as a horse riding school and livery yard, since 1968.
The Site is designated as Green Belt and has a Grade II listed building within it and numerous buildings which are located within the setting of that building, including the Old Dairy, a locally listed building. There are national and local policies which seek to preserve the heritage asset and the openness of the Green Belt.
However, given the extent of previously developed land on the Site and the extent of built form, it is considered that the Site has good prospects for partial or complete redevelopment of the existing buildings on the Site to provide residential dwellings.
Any development will need to preserve or enhance the heritage assets and their setting, as well as have no greater impact on the openness of the Green Belt or lead to substantial harm. Consideration will be given to buyer’s intentions with regards to their bid, taking account the vendor’s wider role as the conservator of Epping Forest. These parameters are considered to represent appropriate development in which the vendor would support (or remain) neutral in relation to a redevelopment of part of the Site in Green Belt terms.
LEGAL STRUCTURE It is intended the Vendor will enter into a Development Agreement with the successful Developer, conditional on them securing a satisfactory planning consent for their proposed residential development; unless it is being purchased for owner occupier or investment use. In any case, there will be certain development and use constraints imposed onto the Site in perpetuity on a sale, for the protection of Epping Forest.
There is a requirement to pay a 10% deposit on exchange of the Development Agreement and/or contracts.
The Site is available for sale on a part-freehold part-long leasehold basis. The split of this is shown in the site plan on page 2. The leasehold part of the Site will be subject to a 150 year term and a prohibition on development.
Woodredon Farm and Equestrian Centre Woodredon Farm Lane
Stable picture facing south August 2021
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SCHEDULE OF BUILDINGS We have been provided with a schedule of accommodation of the buildings that we list in the below table.
UNIT TENURE DESCRIPTION SQ FT
Outbuildings (No. 2 - 3 and 13 – 23 as shown on plan) Equestrian Lease Stables/Outbuildings 19,214
Historic Equestrian Buildings (4 – 12 as shown on plan) Equestrian Lease Stables 8,088
White Cottage 1 Equestrian Lease Residential 612
White Cottage 2 Equestrian Lease Residential 612
Red Cottage Vacant Possession Residential 950
Woodredon Farm House Equestrian Lease Residential 2,398
Vodafone Radio Base Station Vodafone Lease - -
Total 31,874
Please note that Building 1 (rug store) is outside of the tenancy and, if sold for existing (equestrian) use, is potentially available on a license.
TENANCY We include below a schedule of the tenancies:
UNIT LEASE TERM SECURITY OF TENURE
RENT PA
Vodafone Radio Base Station 15 years Expiry 30th March 2021 No £8,033.69
Equestrian Complex 25 years Expiry 28th September 2027 Yes £45,000.00
Total £53,032.69
The Property will be sold subject to its existing tenancies.
EXISTING WAYLEAVES, EASEMENTS AND RIGHTS OF WAYS The Site will be sold subject to and with the benefit of all wayleaves, easements and right of ways, whether or not mentioned in these particulars.
The vendor requires a right of access to their retained land. Please see the plan on Page 2, for the proposed route highlighted in brown.
Note: Building 1 is outside of the lease demise but to be included in the freehold disposal.
IMPORTANT NOTICE
Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, and published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | September 2021
Photographs taken August 2021.
VAT We understand that the Site is exempt from VAT.
METHOD OF SALE The Site is being marketed by private treaty process, with expressions of interest invited.
All interested parties are advised to examine the information held in our data room, linked below, and make their own enquiries in advance of submitting their expression of interest.
In submitting offers, parties should provide sufficient information to allow the vendor to assess the nature and quality of the proposal and the level of due diligence undertaken.
Please note that the vendors do not undertake to accept the highest offer or indeed any offer.
VIEWINGS Viewings are strictly by appointment only and are to be arranged in advance with Savills. Prospective purchasers should note that Savills take no responsibility for any injury or accident at the Site. Viewers visit the Site at their own risk.
Should you wish to make an appointment, please contact those listed to the right.
DATA ROOM Further information pertaining to the planning and technical documents can be found here.
EPCs 1 White Cottage
Ben Sinclair MRICS +44 (0) 1245 293 267 [email protected]
Gi D’Angibau MRICS +44 (0) 1245 293 258 [email protected]
Amelia Brook +44 (0) 1245 293 235 [email protected]

Documents

WOODREDON FARM AND EQUESTRIAN CENTRE