Cadena pays £2.8m for Boundary House
Savills, on behalf of Cadena, has acquired the freehold of Boundary House at Four County Place in Chelmsford from Marble Acquisitions Ltd for £2.8 million, reflecting a net initial yield of circa 7.5 per cent.
The modern, three-storey building comprises 11,369 sq ft of high quality business accommodation situated within Chelmsford’s prime office district. The property is currently let to tenants including Macintyre Hudson LLP, Aviva Central Services UK Ltd and Aspire Achieve Advance Ltd, generating a combined rental income of £213,575 a year.
Mike Storrs, associate director in the business space team at Savills Chelmsford, said: “Boundary House offers a good rental return from strong covenants with the potential for future growth along with the possibility for residential conversion, making it the perfect asset for our client.”
Marble Acquisitions Ltd was advised by Bidwells.