Development
properties
13 Moulsham Street, Chelmsford, Essex CM2 0HU
Highfield Investments are inviting offers in excess of £575,000
Freehold Investment opportunity
Freehold investment opportunity
Corner Plot measuring 2,131ft2
Potential value add subject to gaining the necessary consents
Asset management potential stated in the buyers note below.
Use Classes A1/A2, B1 investment producing £35,000pa. Currently let to The Farm Shop Limited
Freehold
5-minute walk to Chelmsford Station
Offers in excess of £575,000
Description
No. 13 Moulsham Highstreet comprises of a three storey building measuring 2,131ft2 All three floors are currently being fully let to The Farm Shop Limited on a 10 year lease from June 2018, with a tenant option to break at the fifth year. The ground floor measures 829ft2 and is currently being used as a restaurant with internal access to the first floor measuring 700ft2 which is a fully operating kitchen, being used by The Farm Shop Ltd and further internal access to the second floor which measures 603ft2, currently being used as storage by the current tenant.
Buyer’s Note
The Farm Shop Ltd are currently looking to re-assign their lease. We feel that offering a rent free period would potentially allow for enabling works to be undertaken in order to access the upper parts of the building for possible residential units.
Location
13 Moulsham Street lies within Chelmsford City Centre, located at the southern end of the High Street, which can be seen as a strategic position for a freehold investment opportunity. Chelmsford is located in the London Commuter belt; the city offers a 30 minute direct train into London Liverpool Street Station via the Greater Anglia line. Chelmsford is a vibrant City offering three shopping centres, being Bond Street, The Meadows and High Chelmer. The City has great amenities such as shops, cafes, restaurants, bars, cinemas and sporting facilities, such as Pizza Express, Café Rouge, Nando’s and the famous Essex County Cricket Ground which are all located a short walk from 13 Moulsham Street. Furthermore, the area also offers a great choice of schools such as King Edwards VI Grammar School, The Boswell School, Anglia Ruskin University and the famous Newhall School which was acquired by King Henry VIII in 1517 who then gifted it to Mary Tudor, one of his daughters. Chelmsford is home to Hylands House and Park which is just west of the City centre which is home to a stunning country house and a 574 acre parkland, which offers spectacular scenery, perfect for scenic country walks and outdoor activates.
Transport
13 Moulsham Street is a 5 minute walk from Chelmsford Train Station which offers Southbound services to London Liverpool Street and Northbound services which run to Colchester, Ipswich, Clacton-On-Sea, Harwich, Braintree and Norwich via the Great Eastern Main Line. The station has full disabled access via a lift for each of the two platforms and as well as stair access. This dates from an extensive refurbishment of the stations ground- level facilities in the late 1980’s. Since 2011, a second station has been proposed to serve the new Beaulieu housing developments to the north-east of Chelmsford. Chelmsford is around a 25–30 minute drive to Stansted Airport via the A130/A120, and London Heathrow, London Gatwick, London City and Southend airports which are all within reach. Chelmsford has a park & ride service that is based at nearby Sandon. It has capacity for 1,200 cars and opened in March 2006, it has proved highly successful and is widely used. It is based just off the A12 at Junction 18. The bus service runs 7am to 7pm, Monday to Saturday, with five bus stops around the city which provides one to High Chelmer which is great for shopping.
Schedule
Let for a term of 10 years from 26th June 2018 with a tenant option to break at the fifth year. The passing rent is £34,000 per annum. (The current tenant appears not to be in occupation and are now looking to re-assign their lease. However, the Farm Shop Ltd are still paying their rent.
Access
Access can be arranged with sole agents Highfield Investments.
Additional Information
Copies of the existing lease documents are available upon request.
Business Rates
The property has a Rateable Value of £45,000. Interested parties are advised to make their own enquiries of the Local Authority Chelmsford City Council for verification of rates payable.
VAT
We understand that VAT is not applicable.
Tenure
Freehold.
Terms
Highfield Investments are inviting offers in excess of £575,000
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.