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Agent's details

Units 1a and 2a Victoria Court, New Street, Chelmsford, Essex, CM1

For sale: £550,000.00|1,910 Sq Ft|Office, Retail - High Street, Retail - High Street, Offices, Retail

Property details

FOR SALE£550,000.00
SIZE1,910 Sq Ft
ADDRESSUnits 1a and 2a Victoria Court, New Street, Chelmsford, Essex, CM1
TYPEOffice, Retail - High Street, Retail - High Street, Offices, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON6th November 2022

Description

The units provide open plan retail accommodation both with glazed frontages onto New Street. Unit 1a benefits from a return glazed frontage, tile flooring, suspended ceiling with recessed LED lighting and air conditioning, and WC facilities. Unit 2a benefits from laminate flooring, suspended ceiling with LED lighting and air conditioning, WC and kitchenette facilities.

To the rear of the units is one car parking space which is demised to unit 2a.

Location
The premises are situated on Victoria Court just off New Street which forms a busy main road leading into Chelmsford city centre. The Riverside Retail Park and Riverside Leisure Centre are a short distance away. Chelmsford mainline station is a short walk away and provides a frequent service to London Liverpool Street with journey times from approximately 30 minutes.

Accommodation
We have measured the property in accordance with the RICS Code of Measuring Practice (6th Edition) on a Net Internal Area basis to comprise the following approximate area:

1a: 935 Sq. Ft. (86.85 Sq. M.)
2a: 975 Sq. Ft. (90.64 Sq. M.)
Total: 1,910 Sq. Ft. (177.49 Sq. M.)

Services
We understand the property is connected to mains water and electricity. We have not tested any of the services and interested parties should rely upon their own enquiries as regards to the availability and capacity of the services to the property.

Business Rates
The units are entered in the Valuation Office Agency Rating List as follows:

Unit 1a
Rateable Value: £15,750
Approx. Rates Payable 2022/23: £7,717.50 per annum
2023 Rateable Value: £15,750

Unit 2a
Rateable Value: £18,500
Approx. Rates Payable 2022/23: £9,231.5 Per annum
2023 Rateable Value: £18,500

Energy Performance Certificates
Unit 1a: C-63
Unit 2a: C-73

Local Authority
Chelmsford City Council
Tel: 01245 606606

Service Charge
There is a service charge towards the upkeep of the scheme. Further information is available upon request.

Tenancy
Unit 2a is let to two individuals trading as Dream Doors on an effective full repairing and insuring lease by way of a service charge and contracted outside of the 1954 Landlord and Tenant Act. The Lease commenced on 29th September 2019 for a term of 5 years and contains a mutual break clause on 3rd anniversary of the term at a rent of £21,000 per annum.

Unit 1a is vacant and is being marketed to let at a quoting rent of £22,000 per annum exclusive.

Tenure
The units are held on a Lease for a term of 155 years from 1st January 2004 at an annual ground rent of £398 plus VAT.

Terms
The Long Leasehold interest of units 1a and 2a are for sale by way of private treaty at a guide price of £550,000 plus VAT.

VAT
We understand that the property is elected to VAT.

Legal Costs
Each party to bear their own legal costs.

( Agency Pilot Software ref: 14869990 )

Location

marker
Location: Units 1a and 2a Victoria Court, New Street, Chelmsford, Essex, CM1

Chelmsford (0.3 miles)

Hatfield Peverel (5.8 miles)

Ingatestone (6.3 miles)

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