Investment Properties: 217-218 Moulsham Street, Chelmsford, Essex CM2 0UR

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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).
  • Freehold.
  • 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%.