Offers over
£220,000
(£309.86/sq. ft)
Retail premises for sale198 Moulsham Street, Chelmsford CM2
710 sq. ft
EPC Rating: C
Freehold
About this property
Freehold Investment
National Covenant Tenant
10 year lease Expiring 2031
Producing £17,500 pax
Offers In Excess Of £220,000
Estimated Rates Payable: £8982
Description
The ground floor retail unit is let to Amplifon Hearing Specialists on a 10-year lease from January 2021, producing an annual rent of £17,500 plus VAT. Tenant break options were agreed at years 5 and 7, although we understand the 5th year break was not exercised, providing additional security of income. Although the current lease was signed in January 2021, this was an extension, and the Amplifon Hearing Specialists have been in occupation since 2006. Amplifon is a global hearing specialist and have over 70 years experience and more than 10 million customers worldwide. In the UK alone the company has over 141 branches and 64 hearing centres across the country. The unit is well fitted, incorporating a reception, two offices, kitchen, WC facilities, and air conditioning. The upper parts comprise three self-contained flats, each sold off on long leaseholds with approximately 118 years unexpired. This mixed-use property therefore provides a secure commercial rental income from a strong covenant, alongside long-leasehold residential interests, all in a vibrant and well-connected location.
Location
The property occupies a prominent position on Moulsham Street, a sought-after secondary location close to its junction with Parkway. It enjoys excellent accessibility, with Chelmsford City Centre and the mainline railway station only a few minutes’ walk away, and is well served by local bus connections.
Viewings
Strictly by prior appointment via landlords appointed agents Ayers & Cruiks
Price
Offer in excess of £220,000
The ground floor retail unit is let to Amplifon Hearing Specialists on a 10-year lease from January 2021, producing an annual rent of £17,500 plus VAT. Tenant break options were agreed at years 5 and 7, although we understand the 5th year break was not exercised, providing additional security of income. Although the current lease was signed in January 2021, this was an extension, and the Amplifon Hearing Specialists have been in occupation since 2006. Amplifon is a global hearing specialist and have over 70 years experience and more than 10 million customers worldwide. In the UK alone the company has over 141 branches and 64 hearing centres across the country. The unit is well fitted, incorporating a reception, two offices, kitchen, WC facilities, and air conditioning. The upper parts comprise three self-contained flats, each sold off on long leaseholds with approximately 118 years unexpired. This mixed-use property therefore provides a secure commercial rental income from a strong covenant, alongside long-leasehold residential interests, all in a vibrant and well-connected location.
Location
The property occupies a prominent position on Moulsham Street, a sought-after secondary location close to its junction with Parkway. It enjoys excellent accessibility, with Chelmsford City Centre and the mainline railway station only a few minutes’ walk away, and is well served by local bus connections.
Viewings
Strictly by prior appointment via landlords appointed agents Ayers & Cruiks
Price
Offer in excess of £220,000
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