Overview
Description
Location
Description
The property comprises a ground floor food store with two separate flats above, as follows:
Ground Floor - Retail Co-op Store
Internal Width 37ft 10 ins 11.31 m
Shop Depth 66ft 6 ins 20.30 m
Ground Floor Sales 2,345 sq ft 217.9 sq m
Ground Floor Ancillary 322 sq ft 29.9 sq m
Total Ground Floor 2,667 sq ft 247.8 sq m
First and Second Floors - 2 residential flats comprising 3 bedrooms each.
Location
Chelmsford is the principal commercial and administrative centre in Essex located approximately 30 miles north-east of London. It has a large and well-established business community as well as being a major London commuter hub. The city benefits from excellent communication links with the A12 providing dual carriageway access to Central London, the M25 and Colchester. The A414 provides access to the M11approximately 17 miles to the west. The subject property is situated in the residential neighbourhood of Springfield to the north of the city centre. Torquay Road houses the principal neighbourhood parade offering a range of retail and service offers anchored by the Co-op and Boots.
Terms
14/16 Torquay Road (ground floor) is let to Chelmsford Star Co-Operative Society on a 10 year lease from 09.09.2023 at a passing rent of £32,500pax subject to an upward only rent review in the 5th year.
The first and second floors are separately let on two ASTs:
14A Torquay Road - £10,620pa expiring 16.07.2024
16A Torquay Road -£14,100pa expiring 08.09.2023
Proposal - We are instructed to seek offers in excess of £800,000 (Eight Hundred Thousand Pounds), subject to contract and exclusive VAT. A purchase at this level would reflect a Net Initial Yield of x% after allowing for standard purchaser's costs.
VAT - The property has been elected for VAT purposes. It is anticipated that the investment will be treated as a Transfer of a Going Concern (TOGC).
Rates
The valuation office agency website indicates that as from April 2023 the rateable values are as follows:
14/16 Torquay Road - £26,000
14A Torquay Road - Council Tax Band B
16A Torquay Road - Council Tax Band B
Summary
Key points
Contact
Roche Chartered Surveyors
Tel: 01603 619876
Adrian Fennell
adrianf@rochecs.co.uk
www.rochesurveyors.co.uk
EPC
Mortgage Calculator
-
Down Payment
-
Loan Amount
-
Monthly Mortgage Payment
Contact Information
View ListingsSimilar Listings
- on application
Land And Buildings At Goldthorn Hill, Wolverhampton, WV2 3JE
Land And Buildings At Goldthorn Hill, Wolverhampton, WV2 3JE, Wolverhampton, West Midlands
- £2,000,000
Willenhall Lane, Bloxwich, Walsall, WS2 7ED
Willenhall Lane, Bloxwich, Walsall, WS2 7ED, Walsall, West Midlands, Bloxwich
- £500,000 for sale
Land / Car Park At Gunners Way, Gosport, PO12 4DS
Land / Car Park At Gunners Way, Gosport, PO12 4DS, Gosport, Hampshire
- £2,350,000 based on
Unit G Stafford Park 12, Telford, TF3 3BJ
Unit G Stafford Park 12, Telford, TF3 3BJ, Telford, Shropshire
- £395,000
Unit 3 Aspley Close, Four Ashes Industrial Estate, Wolverhampton, WV10 7DE
Unit 3 Aspley Close, Four Ashes Industrial Estate, Wolverhampton, WV10 7DE, Wolverhampton, Staffordshire
- £500,000 offers in the region of
694 Wilmslow Road, Didsbury, Manchester, M20 2DN
694 Wilmslow Road, Didsbury, Manchester, M20 2DN, Manchester, Didsbury
- £4,365,000
166 Clapgate Lane, Woodgate Business Park, Bartley Green, Birmingham, B32 3DE
166 Clapgate Lane, Woodgate Business Park, Bartley Green, Birmingham, B32 3DE, Birmingham, West Midlands, Bartley Green
- £235,000 offers in the region of
448 Wilmslow Road, Withington, Manchester, M20 3BW
448 Wilmslow Road, Withington, Manchester, M20 3BW, Manchester, Withington
- £600,000 offers in the region of
