Co-op Food, Boreham, Chelmsford

Property Description

• Freehold Blue-Chip supermarket Investment with planning.
• Planning for 5 x 2 bed flats and ancillary unit.
• Total accommodation of 0.38 acre site, which consists of 3,200 sq ft for store and 2,200 sq ft warehouse.
• The property benefits from 19 car parking spaces.

Location Description

• The property is located in the village of Boreham, on the North East border of Chelmsford – one of the largest cities in Essex and approximately 30 miles north east of Central London.
• The total population of Boreham 3,597 according to 2011 census and borders the larger city of Chelmsford which has growing population of 168,310 (2011 census).
• The property already benefits from close transport links including Chelmsford Station (5.9 miles, 15 minute drive) and Hatfield Peverel (2.5 miles, 5 minute drive) as well as excellent access to Central London and the M25 via the aforementioned A12. Minutes from Beaulieu Train Station, a brand new station connecting into London which is due to complete in 2025/26alongside over 10,000 new homes.

Tenancy Schedule & Additional Notes

• Currently let to Co-op Group Food Ltd 15 years on a FRI lease from 30 May 2019at a current rent of £135,000 p.a.
• 5 yearly CPI indexed reviews (1%-3% cap and collar).
• Co-operative Group Food Ltd trades from circa 2,700 food stores and is known for its commitment to ethical trading. For the 12 months ending 4th January 2019 gross revenue was £7.5 billion, pre-tax profits £283 million and the company held net assets of £1.97 billion. For the following 6 months ending July 2020, gross revenue increased to £3.9 billion and pre-tax profits of £175 million.
• Planning has been granted by Chelmsford City Council under the reference: 20/00992/FUL for the demolition of the rear storage building and construction of an extension at the rear of the main building comprising a store and café on the ground floor and 5 x 2 bed flats on the first with associated parking.