This substantial detached Victorian property presents a compelling investment opportunity within a prime location in Chelmsford, just a short walk from both the railway station and Anglia Ruskin University. Currently operating as a licensed 14-bedroom HMO, it generates an impressive gross annual income of approximately £120,000 with strong occupancy rates and minimal vacancies. The property not only provides immediate cash flow but also boasts significant redevelopment potential, as evidenced by its historical planning approvals for conversion into 9 apartments and a previous scheme for 8 new apartments. This dual aspect of generating income while having the scope for future development makes it particularly attractive to investors looking to enhance value over time. With allocated parking for nine vehicles on site and situated within a thriving residential area, this property is positioned well to tap into the demand for quality housing in central Chelmsford. The potential Gross Development Value (GDV) of over £3 million illustrates the possibilities that lie ahead, especially given the current market comparisons showing one-bedroom apartments priced between £275,000 and £325,000 and two-bedrooms ranging from £365,000 to £400,000. In summary, this asset offers both robust current income and exciting future development pathways.
