Croudace Properties has completed the purchase of the Gemini Centre in Chelmsford from Prupim.
The property is conveniently located in the City Centre very close to the City Centre shopping facilities and bus routes and is five minutes’ walk from the railway station. The property overlooks Central Park and Essex County Cricket Ground.
It comprises 43,000 sq ft of offices with large floor plates and on site car parking. The first and second floors of 12,000 sq ft each are vacant and represent an interesting opportunity for refurbishment or development.
Neil Scott, Director of Croudace Properties Ltd, explained the rationale for the purchase: "The Gemini Centre has been purchased at a price which allows for a high quality refurbishment of the property to provide Grade A office space or perhaps a mix of uses to include residential. Existing tenancies on the lower ground and ground floors will provide an on-going income stream".