14,860 sq ft over ground and first floors.
Let to the undoubted covenant of Anglian Ruskin University
FRI Lease expiring in 2034 with t/o option to break in 2029
Passing rent of £120,000 p.a with fixed uplifts to £145,000 p.a (2025) and £150,000 p.a (2030)
£1,900,000 reflecting a NIY of 5.94% and a reversionary yield of 7.18%
The subject property forms the ground and first floors of part of Globe House, New Street, Chelmsford.
The building dates back to 1898 when it was established as the UK’s first ball bearing factory and was
occupied by the Hoffmann Manufacturing Company.
The property comprises 14,860 sq ft over two floors. Ground Floor: 8,729 sq ft. First Floor: 6,076 sq
ft. The Property includes 54 car parking spaces. There is a minimum of 48 additional non-demised car
parking spaces on the adjoining car park*.
*Further details on application
The property has the benefit of D1 and D2 use.
Virtual freehold, 999 years at a peppercorn rent.
Chelmsford is a popular commuter city within the county of Essex located approximately 30 miles north
east of Central London and 21 miles south west of Colchester.
The City is extremely well connected with road communications to London via the A12 and Junction
28 of the M25 within 13 miles. Junction 7 of the M11 motorway is approximately 17 miles to the West
accessed via the A414.
There is a fast and frequent train service to London Liverpool Street (34 mins). Chelmsford Train Station
has 7 million passengers per year.
Stansted International Airport is located approximately 18 miles to the north west.