Flats 1-5/Unit 5-6 Salmon Parade, Salmon Parade

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Key Points

Summary

Modern mixed use investment opportunity in the heart of Chelmsford

Description

An opportunity to acquire a mixed use investment opportunity in the heart of Chelmsford. The three-storey building includes a ground floor retail area of around 1,400 sq ft (130.06 m2) with a prominent main road frontage. There are five one-bedroom apartments forming part of the portfolio, four of which have tenants in situ on ASTs. Further information available upon request. Each apartment is to be sold with a share of the freehold allowing the owner a say on the management of the block,enabling control of the service charge. The apartments benefit from a new 125 year lease, which will commence on completion; with a peppercorn ground rent. Each apartment provides an open plan kitchen/reception and a bedroom with en suite. The apartments have been successfully let since they were built in 2013, each achieving a monthly rental of between £700 to £800 per month exclusive which equates to a potential return of up to £48,000 per annum. The ground floor shop is to be let to Easy Mobility (East Anglia) Limited on a new 10 year lease at a rent of £20,000 per annum exclusive. Easy Mobility trade from sites across Essex in Chelmsford, Braintree, Maldon and Colchester. The total potential income: circa £68,000 pax.

Viewings

Viewing is strictly by appointment via: Mike Storrs 01245 293228 mstorrs@savills.com

Location

Chelmsford station: 0.3 of a mile (London Liverpool Street from 34 minutes); Stansted Airport: 19 miles. All distances approximate. The property enjoys a prominent position a short distance from the City Centre and Anglian Ruskin University. The City of Chelmsford itself offers an excellent choice of amenities including a bustling shopping centre, some very highly rated state schools including two outstanding grammar schools, three superb private prep schools, a well known independent school (New Hall), a station on the main line into London Liverpool Street and access on to the A12

Promo

Modern mixed use investment