Description
65 Duke Street is to be sold as a freehold investment subject to the existing commercial tenancies. The property comprises a 2-storey building, with the ground floor let to Haart estate agents, and the first floor let to an escape room.
The property currently produces an income of £68,000 per annum, and planning permission has been obtained (25/00414/FUL) to convert the first floor and install 2 additional floors to form 7 flats.
Location
The property is located in the centre of Chelmsford, immediately opposite the Co-Op and Chelmsford mainline railway station, which provides direct access to London Liverpool Street within 35 minutes.
Chelmsford High Street is only a few minutes walk away, with its vast range of amenities.
Accommodation
Ground Floor: 1,639 sq ft (152 sq m)
First Floor: 1,688 sq ft (157 sq m)
Total: 3,327 sq ft (309 sq m)
Tenure Comments
The ground floor is let to Spicerhaart Property Services Ltd, holding over at a passing rent of £40,000 per annum.
The first floor is let to Escape Live Chelmsford Ltd, on a lease expiring August 2027, outside of the Landlord and Tenant Act 1954, at a rent of £28,000 per annum.
Consideration may be given to selling the ground/first floors separately.
Full lease details available upon request.
Legal Costs
Each party to be responsible for their own legal costs incurred.
Viewing
Strictly by prior appointment with sole agents Elwell Taylor (01245 266088, commercial@elwelltaylor.co.uk)
VAT
The property is not elected for VAT.
EPC
Ground Floor: C-55
First Floor: D-83
( Agency Pilot Software ref: 234 )
