Investment Properties: 217-218 Moulsham Street, Chelmsford, Essex CM2 0UR
217-218 Moulsham Street, Chelmsford, Essex CM2 0UR
OIEO £2,000,000 subject to contract - Freehold
- Prominent location within Chelmsford city centre approximately 0.5 miles from Chelmsford Station.
- A three-storey building comprising 1 retail unit and 1 restaurant unit at ground floor together with office accommodation over first and second floor totalling 7,906 sq ft (NIA).
- Multi-let to 3 tenants including Cancer Research UK (Total Funds - £383.5m) and Red Stack Tech Limited (Pre-Tax Profit - £2.97m).
- WAULT of 7.6 years to expiry and 3.2 years to break options.
- Total current income £169,500 per annum.
- Future potential to convert upper parts to residential, subject to planning.
- Offers are invited in excess of £2,000,000 (Two Million Pounds) subject to contract, which reflects a Net Initial Yield of 8% and a Capital Value of £253 per sq ft, applying purchasers’ costs of 6.28%.