Single let office with conversion to flats

Freehold site totalling 1.10 acres providina a low site coverage of c. 31%. Single let to Royal & Sun Alliance Insurance PIc on a 10-year term from 29th September 2016 (expiry 28th September 2026). Current passing rent of £905,000 per annum equating to a low £22.84 per so ft overall. Prime rents in central Chelmsford are in the region of £30.00 per sq f1. Term certain of 2.43 years to expiry. Significant asset management opportunities come lease expiry to retair current sun tenants and drive rental tone or to cantur the pytant planning consent for change of use to residential and increase further the number of units through PD of the 3rd floor. Residential sales values have achieved in excess of £550 per sa ft.