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 PROPOSAL • The Property comprises a multi-let industrial estate • Freehold We are inviting unconditional offers for on a 13.94 acre site and three additional parcels of land the freehold interest. • Significant asset management and development totalling 58.55 acres (72.49 acres overall) opportunities (STP) • The industrial estate is occupied by 22 tenants producing • Lapsed planning application for demolition of existing a low passing rent of £336,060 per annum DATA ROOM buildings and earth bund and redevelopment for • The three parcels of land are part let to two tenants at 24 residential dwellings For access to the Allsop data room, please use a passing rent of £10,000 per annum the following link: https://datarooms.allsop.co.uk/register/ • Total current income of £346,060 per annum morelandsindustrialestate Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

HARLOW M1 Hertford M11 A414 Stansted A41 Airport Hemel St Albans Hatfield 20 Mins LOCATION SITUATION Hempstead M10 CHELMSFORD A41 A10 Chelmsford is an affluent City in the county of Essex, within The property is situated between the villages of Rettendon Common A404 A1(M) A414 J21 M25 M11 London’s commuter belt. It is a major office and regional and South Hanningfield approximately 9.7km (6 miles) south east of J20 Epping Chipping M1 M25 administrative centre, located approximately 54.7 km (34 miles) Chelmsford, 12km (7.5 miles) north of Basildon and 20.9km (13 miles) J23 Ongar J19 J25 J27 north east of central London. north west of Southend-on-Sea. Watford A1 Enfield Chelmsford benefits from excellent road communications with The Estate is accessed from Tile Works Lane via Old Barn Lane which M25 High M11 A12 A413 the A12 dual carriageway providing access to the M25 motorway serves a number of traditional style bespoke residential houses. The M40 Wycombe Billericay Chigwell Brentwood (junction 28). The A414 provides access to the M11 and Harlow surrounding area is predominantly rural with the industrial estate being M1 J28 Wickford to the east, with the A130 providing access to Braintree to the located immediately adjacent to open countryside. M40 Brent Harrow A127 north and Basildon to the south. Despite being a rural area, the property benefits from being a short Cross Romford J29 Basildon A130 J16 Chelmsford Railway Station benefits from outstanding high speed distance from the A130, which leads directly to the A12 trunk road to Wembley A40 connections to London Liverpool Street with a fastest journey time the north at Howe Green and the A127 trunk road to the south, just A13 M25 of 34 minutes. During peak times there are 7 trains per hour to east of Basildon. Slough A13 London Liverpool Street. Chelmsford Railway Station is the second M4 LONDON The property benefits from being approximately 7.2km (4.5 miles) north J15 M4 A414 busiest station in the East of England. of Wickford Station which provides direct routes to London Liverpool Windsor Heathrow Street in a journey time of less than 40 minutes. A414 Dartford M4 A316 A2 Butts Green Staines Gravesend J2 A12 A20 A2 M25 J12 A3 A23 Bromley East M3 A309 A322 J3 SwanleyHanningfield M3 Weybridge Croydon A12 West A130 M20 M25 Sutton Hanningfield M2 A3 Heybridge M25 Hanningfield Rettendon Epsom ReservoirShoreham M3 Woking J10 A23 Biggin Hill South South M20 Hanningfield J9 J5 M26 Woodham A3 Sevenoaks Ferrers M25 A132 M20 J8 J7 J6 Billericay A21 Hullbridge Guildford Reigate M23 Battlesbridge Dorking Redhill Wickford

A130 A132 Hockley

A127

INDUSTRIAL & LAND INVESTMENT OPPORTUNITY Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

45.4m DESCRIPTION

osts Of P Line The entire property extends to approximately 72.46 acres (29.32 hectares) and provides a multi-let industrial estate Tank

T and 3 parcels of land which are currently used for grazing. Moreland Industrial Estate originally formed the Rettendon ra c k Canon Barns

Tile Works, which excavated and manufactured roof tiles. The operation ceased many years ago and the site is now currently n occupied by a number of industrial buildings of various sizes, the main cluster being located to the southern point of the site. rack i

T a

r D

Morelands Industrial Estate: Additional Land:

44.5m The site extends to approximately 13.94 acres (5.64 hectares) The property also includes 3 parcels of grazing land and the property has been sub-divided into 24 plots ranging in totalling 58.55 acres (23.69 hectares) that surround size from 0.1 to 1.45 acres with many buildings and yards being Morelands Industrial Estate to the north of Tile Works Silver Lodge P a t h

( u Silver m used for a number of commercial uses including car crash repairs, Lane. Access to this land is from Tile Works Lane and ) Ash

)

m u (

h t The a vehicle servicing and storage. Some of these plots are surfaced Canon Barns Road which leads to East Hanningfield P Bungalow

i n Homestead Homestead and some unsurfaced with low specification single storey workshop Water Treatment Works. The parcels of land are E Cottage U N E V A 'S TT E N N buildings on the surfaced areas. predominantly rectangular shaped and offer scope BE

Protempore Fairview

for use as a livery/riding stable or other alternative A

1 The property is currently let to 22 tenants on a variety of leases/ 3 0 licenses (see schedule of accommodation). uses (STP). Burnt Oak

Four Ayes The Elms

1 Silverlee 3 0 The Cabin TENURE Freehold

Pond

SITE AREAS New House Farm

Use Acres Hectares Pond PLOT 2

Moreland Industrial Estate Industrial 13.94 5.64 E N A L N R A B LD O Plot 1 Grazing 8.78 3.55

Barn Cottage Plot 2 Grazing 37.88 15.33 Plot 3 Grazing 11.89 4.81

d Total 72.49 29.33 y

m PLOT 3

f De

Pond PLOT 1 Laceys Farm MORELANDS T r The Ashes a c INDUSTRIAL k ESTATE

s eld nfi ree y G Bd d nd ar U W

E N A L S K R Pond O W LE TI

The Retreat

Bromley Lodge f De

Foxley End Rettendon Great Common D e Hunters f H R Lodge m 52 1.

H RH R m 2 .5 1

O L f D e Chelsfield B D A R N

INDUSTRIAL & LAND INVESTMENT OPPORTUNITY 45.4m

osts Of P Line

Tank

T ra c k

Canon Barns n rack i

T a

r D

44.5m

Silver Lodge

P a t h

( u Silver m ) Ash

)

m u (

h t The a P Bungalow

i n Homestead Homestead E Cottage U N E V A 'S TT E N N BE

Protempore Fairview

1 3 0

Burnt Oak

Four Ayes The Elms

1 Silverlee 3 0 The Cabin

Pond

New House Farm

Pond

E N A L N R A B LD O

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

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

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

PLOT A F ESSEX AUTO REC 01/08/17 31/07/22 5 years F £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 f De unit 2&6 SDM Rolling Monthly £1,000 £12,000 O P unit 3 Individual Rolling Monthly £400 £4,800 N C unit 4 Individual Rolling Monthly £800 £9,600 M L unit 5 Vacant £0 Pond Laceys Farm unit 7 SDM Rolling Monthly £700 £8,400 K I X W

T r The Ashes a c unit 8 Individual Rolling Monthly £250 £3,000 H k Recycling unit 9 Individual Rolling Monthly £305 £3,660 J Business G Q PLOTS F & U ESSEX AUTO REC 01/08/17 31/07/22 5 years £600 £7,200 B s eld nfi ee Gr dy B d PLOT G U F rd n ESSEX AUTO REC (temp) Rolling Monthly £600 £7,200 a U R W PLOT H Individual 01/08/17 31/07/18 1 years £1,250 £15,000 A S PLOT I V Vacant £0 E E N A L S K R Pond O W E PLOTS J & K IL EUROPEVANS 01/08/17 31/07/22 5 years £1,750 £21,000 T T PLOT L EUROVANS Rolling Monthly £900 £10,800 D The Retreat PLOT M Individual 01/08/17 31/07/20 3 years £1,250 £15,000

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

PLOT O P & S EUROS LTD 01/08/17 31/07/20 3 years £1,250 £15,000 Foxley End Rettendon Great Common D e Hunters f H PLOT P ROMICA (temp) Rolling Monthly £850 £10,200 R Lodge m 52 1.

H RH R PLOT Q BOW SERVICES 01/08/17 31/07/22 5 years £2,000 £24,000 m 2 .5 1 PLOT R Vacant 3 years £0

O L f D e Chelsfield B PLOT S Individual 01/08/17 31/07/20 3 years £550 £6,600 D A R N

L A N PLOT T AUTOS FIRST LTD 01/08/17 31/07/18 1 years £1,150 £13,800 Ordnance Survey © Crown Copyright 2018. All rights reserved. E PLOT W INTERROUTE LTD 01/01/17 26/12/41 25 years £41,400 Licence number 100022432. Plotted Scale - 1:6894 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

INDUSTRIAL & LAND INVESTMENT OPPORTUNITY Morelands Industrial Estate and adjacent land, Tile Works Lane, Rettendon Common, Chelmsford, Essex, CM3 8HB

ASSET MANAGEMENT POTENTIAL The 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).

PLANNING In 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 CONSIDERATION An 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.

INDUSTRIAL & LAND INVESTMENT OPPORTUNITY EPC EPC’s available upon request.

VAT The property is not VAT elected.

DATA ROOM For access to the Allsop Data Room, please use the following link: https://datarooms.allsop.co.uk/register/morelandsindustrialestate

PROPOSAL We are inviting unconditional offers for the freehold interest.

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

James Salmon Ronnie Morgan 020 7543 6880 020 7543 6808 [email protected] [email protected]

www.allsop.co.uk

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.

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