Savills | Bishop Road, Chelmsford, CM1 1PX | Property for sale
43.66 sq m(470 sq ft)
Guide price £1,200,000(€1,389,209)

Bishop RoadChelmsford, CM1 1PX

  • New

Key features

  • Mixed-use investment opportunity
  • Ground floor retail
  • Five 1-bedroom apartments
  • Prominent city centre location
  • Short distance from Anglia Ruskin University

Exciting mixed use investment opportunity in the heart of Chelmsford.

About this property

  • 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 ManningProperty agent

Local information

  • Chelmsford station: 0.3 of a mile (Liverpool Street from 34 minutes); Stansted Airport: 19 miles. All distances approximate.
  • The property enjoys a prominent position a short distance from the city centre and Anglian Ruskin University. The student village is close by the site providing accommodation for over 500 students.
  • The city of Chelmsford itself offers an excellent choice of amenities including a bustling shopping centre, some very highly rated state schools including two outstanding grammar schools, three superb private prep schools, a well known independent school (New Hall), a station on the main line into London Liverpool Street and access on to the A12.

Additional information

  • Services: Mains services connected.
  • Viewing: Strictly by appointment with Savills.
  • Directions: From Chelmsford train station proceed north on New Street (B1008). The site is located on the corner of New Street and Bishop Road. Postcode: CM1 1PX
  • EPC Rating = B