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SHOP & UPPER PARTS FOR INVESTMENT

For sale: £265,000.00|934 |Residential, Offices, Office

PROPERTY DETAILS

FOR SALE£265,000.00
SIZE934
ADDRESSBanstreets Shop & Upper Parts, Bell Street, Chelmsford, CM2 7JS
TYPEResidential, Offices, Office
TENUREFor Sale Freehold
POSTED ON8th April 2021

DESCRIPTION

LOCATION
The property is located close to the junction of Bell Street and High Street in Great Baddow.

Nearby is a mix of residential and commercial uses, including Russell's Restaurant, as well as easy access to the A12.

DESCRIPTION
Available on an effective freehold basis, currently as an Investment but with scope for Vacant Possession if required, this Grade II Listed building comprises of a ground floor shop, and self-contained first floor office. Planning consent is in place to convert the office into a 1 or 2 bedroom flat.

The ground floor shop is finished to a high standard, has gas central heating and a WC at the rear.

The upper parts (currently used as an office) is divided to form 4 offices, kitchenette and WC. There is a large loft space, offering potential for further development STP.

There is a parking area adjacent that is shared between the shop and office, providing 2 parking spaces for 2 small cars.

ACCOMMODATION
The following areas are measured on a Net Internal Area Basis
Ground Floor Shop (NIA): 463 sq ft (43 sq m)
First Floor Office (GIA): 471 sq ft (44 sq m)
TOTAL: 934 sq ft (86 sq m)

TENURE
The property is for sale on the basis of a new 999 year lease at a peppercorn rent.

The ground floor shop is let to My Fairytale Wardrobe' at a passing rent of £7,675 per annum + VAT, subject to a mutual rolling break option upon 3 months' notice. The lease is outside of the security of tenure provisions of the Landlord & Tenant Act 1954.

The first floor office will have Vacant Possession.

Both leases are outside of the security of tenure provisions of the Landlord & Tenant Act 1954.

PLANNING
Planning consent for the conversion of the first floor office into a 1 or 2 bedroom flat was approved under reference 17/00662/FUL.

PRICE
£265,000 for the long leasehold interest.

VAT
We understand the property is elected for VAT.

BUSINESS RATES
Ground Floor Shop: RV £5,200
First Floor Office: RV £5,900

LEGAL COSTS
Each party to be responsible for their own legal costs incurred.

Viewing
Please contact us on 01245 266088 if you wish to arrange a viewing appointment for this property, or require further information.

LOCATION

Location: Banstreets Shop & Upper Parts, Bell Street, Chelmsford, CM2 7JS

Chelmsford (2.0 miles)

Hatfield Peverel (5.9 miles)

Ingatestone (6.2 miles)

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