Property Features

Location:
Hoffmanns Way, Chelmsford, CM1 1GU
Tenure:Freehold
Hoffmanns Way,
For Sale £2,950,000
Property Type
Offices

About the Property

    LOCATION
    The City of Chelmsford is located approximately 33 miles to the north-east of London and benefits from excellent communications via the A12 giving direct access to the M25 at Junction 28 (12 miles). The M11 and Stansted Airport are also easily accessible (approx. 15 minutes drive) via the A131 and A120.

    Hoffmanns Way is an established business location to the north-east of Chelmsford City Centre, within close proximity to Anglia Ruskin University and located on a bus route which also services the Park and Ride.

    Swift House is situated less than one mile from the main line railway station (with journey times of approx. 35 minutes to London Liverpool Street) and Chelmsford City Centre and within easy reach of the main road links (A12, A130, A131 and A414.

    DESCRIPTION
    Swift House comprises a modern two storey office building constructed in the early 2000s. The building is arranged to provide office accommodation across two floors with staff facilities and 63 car parking spaces.

    The offices are air-conditioned throughout and benefit from double glazed windows and doors, suspended ceilings and CAT II lighting.

    Whilst currently arranged to provide a range of private and open plan offices, the building could, subject to terms, be reconfigured to suit an occupiers needs or sub-divided further and converted into a business centre with various office suites and ample car parking.

    Ground Floor 5,750 sq. ft. (534m2)
    First Floor 5,750 sq. ft. (534m2)

    OFFICE MARKET OVERVIEW
    Prime rents in Chelmsford have reached £27.50psf and quoting terms for Grade A accommodation are in the range of £27.50psf to £30psf. We understand negotiations are on-going in the City, currently at £28psf, this rental growth reflecting Chelmsford’s continuing appeal to occupiers.

    TENANCY

    The ground floor of the property is LET to LB Group Limited for a term of 10 years from 01 Jan 2017 expiring 31 Dec 2027 at a passing rent of £110,000pax and subject to an upwards only rent review dated 01 Jan 2022.

    The first floor is currently vacant and available TO LET on a new internal repairing and insuring lease subject to a service charge arrangement for the communal and shared areas at £120,000pax.

    TERMS
    Offers in the Region of £2,950,000 plus VAT.

    The property with Title No. EX621986 is offered for sale freehold subject to the existing lease of the Ground Floor.

    OUTGOINGS
    The property has the following rating assessments:

    Suite A Gnd Flr 432.35m2 £73,500

    Suite B Gnd Flr 48m2 £8,100

    Suite C Gnd Flr 67.6m2 £11,250

    1st Flr 583.24m2 £99,000

    VAT
    All rents and prices quoted are exclusive of VAT under the
    Finance Act 1989. Interested parties are advised to
    consult their professional advisors as to their liabilities, if any, in this direction

    LEGAL COSTS
    Each party is to be responsible for their own legal costs in relation to any transaction.

    OTHER
    EPC – The property has an energy performance rating of D93.

    VIEWING
    Strictly by prior appointment with joint sole agents:

    NICHOLAS PERCIVAL – Thomas Noble
    01206 563 222
    tnoble@nicholaspercival.co.uk
    C4446

    SAVILLS -Mike Storrs
    01245 269 311
    mstorrs@savills.com

    Hoffmanns Way,

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