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