This substantial detached Victorian property, currently functioning as a licensed 14-bedroom HMO, presents a unique investment opportunity in a prime location within Chelmsford. Situated conveniently close to Chelmsford Railway Station and Anglia Ruskin University, this property boasts consistent income generation of approximately £120,000 per year with proven occupancy rates and minimal vacancy periods.
Importantly, the property has a notable planning history that includes approval for conversion into nine apartments and previous consent for the erection of eight apartments. This creates an attractive proposition for investors looking to balance immediate cash flow with potential future development.
With a total area of about 3,480 sq ft on approximately 0.16 acres and nine allocated parking spaces, there is ample scope for enhancing the property's value through redevelopment initiatives. The existing demand for residential accommodation in central Chelmsford reinforces the viability of transforming this asset into high-quality apartments, with current market evidence suggesting a gross development value could exceed £3 million if developed according to planning consents. This property not only offers immediate returns but also positions itself as a platform for significant future gains.
