Grosvenor House, 51-53 New London Road, Chelmsford, Essex, CM2
- SIZE AVAILABLE
16,688 sq ft
1,550 sq m
- SECTOR
Mixed use property for sale
Key features
- Multi-Let Mixed Use City Centre Investment Opportunity
- Rent Guaranteed at £276,793
- 16,688 Sq. Ft. (1,550.34 Sq. M.)
- New Shop Fronts (2023)
- 8 Person Passenger Lift
- Secure Car Park
- New Roof Covering in 2020
- Refurbished WC's in 2021
Description
Location
Grosvenor House is prominently located on New London Road, a short distance from the High Street and close to the junction with Parkway, the ring road round the city centre. The City of Chelmsford is located approximately 30 miles northeast of London and benefits from excellent communications via the A12 giving direct access to the M25 (Junction 28) within 12 miles. The M11 and Stansted Airport are also easily accessible. The City's railway station is approximately 0.4 miles away and provides a frequent services to London Liverpool Street with journey times from 32 minutes.
Services
We understand the property is connected to mains water, drainage, gas and electricity. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.
Accommodation
The Vendor has had a measured survey carried out by Land Survey Solutions Limited which reports the areas contained within the Accommodation Schedule. Please refer to the marketing brochure.
Tenure
The property is held freehold under title no: EX872916.
Tenancies
The freehold interest is subject to 10 effective full repairing and insuring leases by way of a service charge generating a rental income of £215,367 per annum exclusive. Suite B, 1st Floor 51 New London Road and 2nd Floor 51 New London Road are currently vacant and subject to terms agreed the Vendor is prepared to provide a 1 year rent guarantee on the two vacant suites upon sale which would increase the annual rental income to £266,306.
Service Charge
There is a service charge running towards the upkeep of the building. Further information is available upon request.
Anti-Money Laundering
Anti-Money Laundering Regulations require Fenn Wright to formally verify prospective purchaser's identity, residence and source of funds prior to instructing solicitors.
Terms
The Freehold interest subject to the existing lease agreements is available for sale at a guide price of £2,650,000.
VAT
We understand that the property is elected to VAT. The sale may be eligible to be treated as a Transfer of Going Concern, however, should this not be the case, VAT will be payable on the purchase price.
Legal Costs
Each party to bear their own legal costs incurred in this transaction.
Viewing
Strictly by appointment with the sole agents:
Fenn Wright
20 Duke Street, Chelmsford CM1 1HL
fennwright.co.uk
Contact:
James Wright
John Logan
Brochures
Grosvenor House, 51-53 New London Road, Chelmsford, Essex, CM2
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Chelmsford Station0.4 miles
- Ingatestone Station5.9 miles
- Hatfield Peverel Station6.1 miles
Fenn Wright are East Anglia’s leading, independently owned partnership of commercial property agents, estate agents and Chartered Surveyors, with a reputation for providing the highest level of customer care. Although we’ve been around since 1768 we endeavour to mix traditional business values with contemporary methods. We have an unequalled presence throughout Essex and Suffolk with offices in the major hubs of Chelmsford, Colchester, Colchester Business Park and Ipswich - as well as branche
Notes
Disclaimer - Property reference 14870286FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Fenn Wright, Chelmsford Commercial Sales and Lettings. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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