A fully let, newly built mixed-use property comprising 3 retail units let on FRI leases and 14 flats sold off on 125-year leases from 2021, providing secure yearly ground rents. Unit 3's rent steps up from September 2026.
Location
The property is prominently situated on Railway Street in central Chelmsford, within a short walk of Chelmsford railway station and the city's main retail and commercial areas. The surrounding location benefits from a strong mix of offices, shops, cafés and leisure uses, together with nearby civic landmarks including Essex County Council offices, Chelmsford Cathedral and Shire Hall.
Road access is convenient via Parkway and Victoria Road. Chelmsford station provides frequent rail services to London Liverpool Street and other destinations across Essex. The central position offers strong visibility, good pedestrian movement and excellent access to local amenities.
Accommodation
The property comprises three ground-floor retail units fronting Railway Street, with 14 residential flats on the upper floors (1st, 2nd and 3rd floors). An adjacent car park and adjoining parking court provide parking provision.
Commercial Units — Ground Floor (approximate GIA from floor plan):
Unit 1 — No. 54 Power Health & Fitness Ltd (Zero Gravity Pilates): approx. 69.3 sq m / 746 sq ft
Unit 2 — No. 58 Ben Wilsons Barbers (Chelmsford) Ltd: approx. 70.6 sq m / 760 sq ft
Unit 3 — No. 60 Vu To Pham (Bubble Tea): approx. 70.6 sq m / 760 sq ft
Residential — 14 Flats on 3 Floors:
8 flats held at peppercorn ground rent (Flats 1, 2, 5, 7, 8, 9 on 1st/2nd floors)
6 flats at £250 per annum each (Flats 3, 4, 6, 10, 11, 12, 13, 14) — totalling £2,000 per annum ground rent income
Total commercial GIA (floor plan): approximately 2,266 sq ft. Note: the tenancy schedule quotes individual unit sizes as 742 sq ft, 385 sq ft and 495 sq ft respectively — these differ from the floor plan GIA figures and should be verified against executed leases and on-site measurement.
Terms
Price: £650,000 + VAT; Intended to qualify as a TOGC, subject to HMRC requirements. Obtain independent tax advice.
Total income: £50,000 per annum
Net Initial Yield: approximately 7.4%
Tenure: Freehold
For a full tenancy schedule, please view the attached brochure.