100 Springfield Road, Chelmsford, Essex, CM2 6JZ

LOCATION & SITUATION
Chelmsford City is located in the centre of Essex approximately 30 miles north-east of the centre of London and 30 miles south of Colchester. The city is an affluent area, home to a variety of multi-national businesses due to its close proximity to the Capital with journey times of approximately 30 minutes to London Liverpool Street.

The property is situated to the north-east of the City Centre on the eastern side of the busy Springfield Road, adjacent to Majestic Wine. Nearby occupiers include Tesco Supermarket, Iceland, Halfords Auto Centres & Tyre Savers UK.

Although located on the outskirts of the City Centre, the property is within walking distance of Chelmsford's premium shopping area, Bond Street, the High Street and The Meadows Shopping Centre.

DESCRIPTION
The premises comprises an out-of-town, modern retail shop/showroom on the ground floor of Tyrell Lodge. The property benefits from excellent road frontage and the right to use the off road parking located immediately to the front of the premises (edged blue).

The unit extends to approximately 2,150 sq. ft. on the ground floor. The shop has two fully glazed double entrance doors to the front elevation as well as further large glazed window.

Internally the shop is predominantly open-plan with a WC, kitchenette and office area to the rear.

Overall Frontage 24.38m (80 ft.)
Glazed Display Frontage 14.64m (48 ft.)
Return Frontage 2.25m (11 ft.)

Net Internal Area 199.74m2 (2,150 sq. ft.)

ENERGY PERFORMANCE CERTIFICATE
The property has an energy performance rating of B40. A copy of the certificate can be found on the GOV.UK non-domestic energy performance certificate register.

RATEABLE VALUE | BUSINESS RATES
(100 Springfield Road, Chelmsford CM2 6JE)

The property is assessed for business rates as follows:

2017 List £31,000
2023 List £30,000 (effective Apr 2023)

COMMERCIAL LEASE
The property is occupied by Hadleigh Glass Limited on a new effective Full Repairing and Insuring lease for a term of 8 years commencing 1st May 2021 (6+ years unexpired) at a passing rent of £30,000 per annum exclusive plus VAT.

The lease is contracted inside the security of tenure provisions of the Landlord & Tenant Act 1954 and there is a provision for a rent review, upwards only to market rent, on the fourth anniversary of the term (2025).

The Tenant has the option to break the lease on the third and sixth anniversaries of the term, 2024 and 2027.

Further information and a copy of the Lease can be made available to interested parties.

TENURE
Long leasehold - 999 years from 2008.

GUIDE PRICE
We are instructed to seek offers of £475,000 for the freehold, subject to contract and the commercial lease to Hadleigh Glass Limited (Company No. 03945118).

The purchase price of £475,000 reflects a gross initial yield of 6.31%.

LEGAL COSTS
Each party is to bear their own legal costs in connection with this transaction.

VIEWING
Strictly by prior appointment with the sole agents, Nicholas Percival Chartered Surveyors.

Tom Noble MRICS


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