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1-5 New London Rd 19,184 sq ft 100% Let Retail Property Chelmsford CM2 0NA £4,700,000 (£245.00/sq ft) 8% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Chelmsford – Essex’s leading retail city and administrative hub.
- Affluent, fast-growing catchment population.
- 88% of income secured on 2024/25 lettings – strong reversionary potential.
- 34-minute direct train to London Liverpool Street.
- 100% prime High Street position between High Chelmer, Bond Street and Meadows Shopping Centres.
- Planning consent to convert vacant office into 4 residential units.
EXECUTIVE SUMMARY
We are instructed to seek offers in excess of £4,700,000 (Four million, seven hundred thousand pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 8.00% on the retail income and £57.50 psf (£185,000) on the net saleable area of the vacant office accommodation, with the benefit of planning permission for conversion into 4 residential flats.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Office
Property Size
19,184 sq ft
Costar Property Class
B
Year Built
1970
Price
£4,700,000
Price per sq ft
£245.00
Yield
8%
NOI
£376,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
4
Plot ratio
2.45
Total Plot Size
0.18 ac
Frontage
1 1
NEARBY MAJOR RETAILERS
CONTACTS
-
Tom Heptonstall -
Patrick Kilvington -
Oliver Smart -
FMX Urban Property Advisors
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1-5 New London Rd
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