Summary - 86-87, DUKE STREET CM1 1JP
1 bed 1 bath Commercial Property
Large ground-floor shell-and-core retail unit in central Chelmsford — ideal for investor or occupier..
1,485 sq.ft ground-floor retail unit with prominent Duke Street frontage
Brand-new shell-and-core — requires full tenant fit-out and services
Suitable for varied uses; can be split subject to planning consents
3-phase electrical supply available or provisionable
Prime central Chelmsford location; short walk to mainline station
Leasehold tenure; sale is elected for VAT (VAT payable)
Business rates to be assessed — budget for ongoing costs
Located in a very high crime area — consider security/insurance costs
A substantial ground-floor commercial unit on Duke Street, offered in shell-and-core and ready for a tenant fit-out. At 1,485 sq ft with prominent road frontage, the space suits retail, professional services or reprovisioned multi-let use (subject to planning). The building is brand new and benefits from high ceilings and a location with strong pedestrian and vehicular traffic close to Chelmsford station.
The property is sold leasehold at £450,000 and is elected for VAT. There is potential to split the unit or install a 3-phase electrical supply, giving flexibility for different occupiers. For an investor, the size, central location and proximity to notable occupiers present clear letting prospects once the internal fit-out is completed.
Buyers should note material considerations: the unit is delivered unfinished so immediate capital expenditure will be required for tenant fit-out and services. Business rates are to be assessed and VAT is chargeable on the sale; the site is in a very high crime area, which could affect tenant demand and insurance costs. Tenants and purchasers should check planning and consents if proposing a split or change of use.
In short: a rare, large town-centre retail/office shell with strong upside from letting or immediate fit-out, but requiring realistic allowances for finishing costs, rates, VAT and local security considerations.
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