Sold on 04/11/2022
£10,900,000 (Subject to Contract and Exclusive VAT)
The City of Chelmsford is the commercial and administrative centre for Essex as well as the region’s premier retailing destination. Chelmsford is a highly attractive and affluent city located 40 miles (64km) east of Central London, 21 miles (34km)south west of Colchester and 10 miles (16km) south of Braintree.
The property comprises six retail and leisure units and a serviced office. Forming part of a former Brewery Site which date back to the 19th Century, the site was comprehensively redeveloped in 1980.Further alterations have been made over time to reconfigure and modernize the space to suit occupier needs.
McDonalds and Metro Bank occupy Prime High Street fronting units. The latter benefits from a dominant return frontage onto Springfield Road. Within the Yard, Fete, Nandos and Zizzi all operate from well configured units with demised outside seating. Rosa’s Thai are also under offer to occupy Unit 4. Patch Places, a serviced office provider are located to the rear of the Yard and operate over four floors.
The units are serviced through the rear service yard, accessed via Bond Street. The adjoining, former Debenhams site is currently under reconstruction and has been let to a national multiple retailer. The store benefits from an up and down escalator accessed from their yard into their store at first floor level. This is demised by way of a peppercorn lease, expiring 2986
£1,017,751.00 per annum exclusive
McDonald's, Metro Bank, Zizzi, Nandos, Fete, Patch Places
8.5% Net Initial Yield
Partner | Investment
Green & Partners understand our needs and continually exceed expectations.
Thorough, tenacious, practical in their outlook and approach but above all they get results.
La Salle Investment Management
The expertise and excellent client focus provided by Team G&P is greatly valued and appreciated. The continuing hard work to support our investment, Leasing and Asset Management activities has enabled us to drive investment performance for our clients.
M & G Real Estate
Green & Partners are a focused, diligent and highly determined team who exceed our expectations time after time.
With Green & Partners you get Partner level involvement and Commitment whether it's an MSU or a small kiosk. They are creative and tenacious and have a very good knowledge of shopping centres and the retailer market at all levels.
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