Maltese Road, Chelmsford, CM1
- PROPERTY TYPE
Detached
- BEDROOMS
14
- BATHROOMS
3
- SIZE
3,480 sq ft
323 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Exceptional detached period property in the heart of Chelmsford
- Established licensed HMO generating approximately £120,000 per annum
- 14 double bedrooms arranged across three floors
- Nine allocated parking bays with resin-laid driveway
- Short walk to Chelmsford City station, city centre and amenities
- Development potential with lapsed planning consent
Description
Income-Producing HMO with Historic Planning Consent In Prime City Location
A rare opportunity to acquire a substantial detached Victorian property occupying a highly accessible location within walking distance of Chelmsford Railway Station, Anglia Ruskin University and Chelmsford City Centre.
The property currently operates as a successful 14-bedroom licensed HMO producing approximately £120,000 gross annual income with a proven occupancy history and minimal void periods.
In addition to its established income profile, the property benefits from a compelling planning history including approval for conversion into 9 apartments and an earlier approval for the erection of 8 apartments, creating a unique blend of immediate income and future development potential.
This opportunity offers investors the ability to secure a cash-flowing asset today whilst exploring future planning-led value enhancement strategies.
Investment Highlights
Existing Gross Income: £120,000 per annum
Licensed 14-Bedroom HMO
Approx. 3,480 sq ft Detached Building
Approx. 0.16 Acre Site
9 Allocated Parking Spaces
Walking Distance to Chelmsford Station
Walking Distance to Anglia Ruskin University
Historic Planning Consent for erection of Apartments and for conversion to Apartments
Historic Planning Approval for Conversion into 9 Apartments
Potential Future GDV Exceeding £3 Million Subject to Planning
Multiple Exit Strategies
The property offers investors a unique opportunity to generate income whilst controlling a site with genuine medium-term redevelopment prospects.
The site benefits from two separate planning precedents demonstrating the principle of apartment development has previously been accepted.
Planning Ref. 88/0264
Approved scheme for 8 apartments.
Planning Ref. 08/00011/FUL
Approved conversion of the existing building into 9 apartments.
Current apartment values in central Chelmsford demonstrate strong demand for high-quality residential accommodation.
Comparable one-bedroom apartments are currently being marketed between approximately £275,000 and £325,000.
Comparable two-bedroom apartments are currently being marketed between approximately £365,000 and £400,000
Based on current market evidence, a future mixed apartment scheme could potentially support a Gross Development Value exceeding £3 million, subject to planning and specification.
Investment Summary
Income Today. Development Potential Tomorrow.
40 Maltese Road represents an opportunity to acquire a substantial detached freehold asset in one of Essex's strongest residential and commuter markets, combining proven income generation with a credible route to future value creation.
Disclaimer
The information contained in this document is provided for guidance only and is believed to be correct at the time of publication. Prospective purchasers should undertake their own due diligence and seek independent professional advice regarding all aspects of the property, including planning, development potential, income and legal matters. All figures and projections are indicative only and should not be relied upon as statements of fact.
Connected Person Notice: In accordance with the Estate Agents Act 1979, we declare that the seller of this property is a connected person of an employee of Walkers/ Period Homes.
Parking - Off street
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: G
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Off street
- GARDENA property has access to an outdoor space, which could be private or shared.
- Front garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Maltese Road, Chelmsford, CM1
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Visit our security centre to find out moreDisclaimer - Property reference 7d4b82f7-e713-4135-9e0a-4b846ee9e90b. 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 Period Homes, Essex. 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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