Auction

Exchanged

6 - 14 (even) Rainsford Road, Chelmsford, Essex CM1 1SS

We are inviting offers in excess of £1,000,000 for the freehold interest

Freehold Shop/Office Investment & Development Opportunity

Comprising 5 shops(inc a triple unit), 5 flats and a rear car park

Total accommodation 364.7m2 (3,926ft2)

Includes 8 vacant car parking spaces

Potential to add further residential accommodation by adding a floor/and or extending to the rear, subject to consents.

Located 250m from Chelmsford Rail Station and within 0.5 miles of Chelmsford town centre

Freehold

Gross initial yield 8.35%

VAT is not applicable

Seven week completion available

Total current rent reserved £83,500 pa

Offers in excess of £1,000,000

Planning Potential

Plans have been drawn up and are in the legal pack for extending the five existing flats at first floor into the second floor. This shows 5 No. two bedroomed maisonette properties. The proposed plans also show 2 No. three bedroomed dwellings in the rear car park area of the site, either as flats or townhouses, whilst retaining car parking. The ground floor commercial space is retained. All subject to necessary consents.

Location

The opportunity lies within Chelmsford City Centre, 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 the site. 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. 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

The opportunity is within a 2 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.

Access

The site can initially be viewed from the roadside.

Additional Information

Planning and other related documents will be sent in the form of an information pack that can be requested from a member of the Highfield team.

VAT

We have been advised that VAT is not applicable.

Tenure

Freehold

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.