Auction
11 - 15 (odd) Broomfield Road, Chelmsford, Essex CM1 1SS
We are inviting offers in excess of £650,000 for the freehold interest
Freehold Shop/Office Investment & Development Opportunity
Comprising two shops and first floor offices, together with a rear workshop and yard/car park
Total accommodation 252.79m2 (2,721ft2), plus rear yard
Total Site Area 0.11 hectares (0.275 acres)
Potential to convert first floor offices to residential use and develop the rear yard, subject to consents
Located 250m from Chelmsford Rail Station within 0.5 miles of Chelmsford town centre
Gross initial yield 6.15%
VAT is not applicable
Seven week completion available
Total current rent reserved £40,000 pa
Offers in excess of £650,000
Useful links
Planning Potential
Plans have been drawn up and are in the legal pack for Prior Approval Permitted Development to change of use of the existing office spaces at 11a and 11b from B1 use class into a one bed residential unit at ground floor level and two studios in the first-floor office space. The car park site to the rear is described in the Chelmsford Local Plan, ‘Growth Site Policy 1t’ and policy GR1 as being appropriate for ‘Around 10 Units’. Plans are included in the legal pack demolishing the workshop in the rear of the site and construction of nine residential units with parking. To comply with the requirements of the Chelmsford Local Plan the dwelling mix provides 4 No. three bed dwellings, 4 No. two bed dwellings and 1 No. one bed dwelling.
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.
VAT
We have been advised that VAT is not applicable.
Tenure
Freehold
Terms
We are inviting offers in excess of £650,000
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.