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News | Independent Commercial Property Agents | PAI

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Attractive convenience store investment sold in Chelmsford

Friday, 28 June 2019

Attractive convenience store investment sold in Chelmsford

PAI members Fenn Wright are pleased to confirm the sale of the an investment property at New Street, Chelmsford , Essex

Property summary

- Area 3900 Sq ft
- Let to The Co-Operative Group Food Limited
- Net Initial Yield of 6% (allowing for purchaser's costs at 6.2%)
- Annual Rental Income £70,000
- 5 Yearly Rent Review on the Basis of CPI Linked Compound Cap of 3% and Collar of 1%
- The Co-Operative Group Food Limited Last Filed Accounts in January 2016 Reflected a Total Net Worth in Excess of £1.3 Billion.
- The Property Forms Part of The New Marconi Evolution Scheme and Forms an Area of High Population Density.
- The scheme Creates a Link Between Chelmsford Train Station and The New Street/Anglia Ruskin University Area.
- Tenure - A 125 Year Long Leasehold Interest With a Ground Rent of a peppercorn on annual demand.