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Lot 5 Click here for addendum

Freehold Investment & Development Opportunity
4 Week Completion

Situation

Located opposite the junction with Railway Street being approx. 350 yards from Chelmsford Rail Station and approx. ½ mile from the town centre. Nearby occupiers including Chelmsford Civic Centre, Pizza Hut, Tesco Express and a Co-op Supermarket as a well as a host of independent retailers.
Chelmsford is a major retail and commercial centre which lies close to the main A12 some 14 miles north-east of Brentwood and enjoying easy access to the M25 (Junction 28) and the M11 (Junction 7).

Property

Comprising a Site Area of approx. 6,500 sq ft (with vehicular access directly from Broomfield Road) upon which stands a Detached single storey Workshop/Office together with a Yard/Car Park.

Accommodation

Site Area Approx. 6,500 sq ft

Workshop/Office
Area Approx. 843 sq ft¹
2 WCs
Plus Yard/Car Park
¹Area taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to I. Emin (Storage/Car Wash) for a term of 3 years from 2nd October 2017 (holding over - excl. s.24-28 of L & T Act 1954) at a current rent of £15,000 per annum exclusive.

Planning

There is potential to demolish the existing Workshop/Office and construct a number of Residential Units on the site, subject to obtaining possession and the necessary consents.
The ‘Growth Site Policy 1t' within the Chelmsford Local Plan states development will be permitted at the Car Park site subject to Policy GR1 for around 10 new homes (Refer to Chelmsford Local Plan at www.chelmsford.gov.uk).

Note: The Freehold of the adjoining two storey shop/offices at 11-15 (odd) Broomfield Road is also being offered for sale in this auction - see Lot 4.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Workshop & Yard/Car Park r/o 11 Broomfield Road, Chelmsford, Essex CM1 1SY