Exciting mixed use investment opportunity in the heart of Chelmsford.
An opportunity to acquire a mixed use investment opportunity in the heart of Chelmsford.
The three-storey building includes a ground floor retail area of around 1,400 sq ft (130.06 m2) with a prominent main road frontage.
Each apartment is to be sold with a share of the freehold allowing the owner a say on the management of the block, enabling control of the service charge. The apartments benefit from a new 999 year lease, which will commence on completion; with a peppercorn ground rent. Each apartment provides an open plan kitchen/reception and a bedroom with en suite.
The apartments have been successfully let since they were built in 2013, each achieving a monthly rental of between £700 to £800 per month exclusive which equates to a potential return of up to £48,000 per annum.
The ground floor shop is to be let to Easy Mobility (East Anglia) Limited on a new 10 year lease at a rent of £20,000 per annum exclusive. Easy Mobility trade from sites across Essex being Chelmsford, Braintree, Maldon and Colchester.
The total potential income is therefore circa £68,000 pax.
View payable Stamp Duty for this property
This is a really exciting opportunity to acquire a compact portfolio in the centre of the city.Karl Manning