156B, 156C, 156D and 157 High Street Colchester CO1 1PG

156B, 156C, 156D and 157 High Street
Colchester
CO1 1PG

Freehold Retail and Residential Investment

  • Three retail units with residential above
  • Prominent historic building on Colchester’s High Street
  • Nearby occupiers include Williams & Griffin Department Store, Barclays Bank, Oasis Ladies Wear and Burger King
  • Close to Culver Square Shopping Centre and Colchester Town Hall
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    54
  • Auction
    10th December 2015
  • Rent
    £81,050 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trustees
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Three retail units with residential above
  • Prominent historic building on Colchester’s High Street
  • Nearby occupiers include Williams & Griffin Department Store, Barclays Bank, Oasis Ladies Wear and Burger King
  • Close to Culver Square Shopping Centre and Colchester Town Hall
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 54
  • Auction 10th December 2015
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trustees

Property Information

Location
Miles
19 miles south-west of Ipswich, 55 miles north-east of London, 45 miles south-east of Cambridge
Roads
A1124, A12, A134
Rail
Colchester Town Rail
Air
Southend Airport
Situation

The property is the former Essex & Suffolk Fire Office, a prominent historic building situated on the northern side of the High Street in Colchester town centre. The property is a short walk from Culver Square Shopping Centre, which houses retailers such as Debenhams, TK Maxx, H&M and Clarks. Other nearby occupiers include Williams & Griffin Department Store, Cooperative Bank, Barclays Bank, Oasis Ladies Wear, William Hill and Burger King.

Tenure

Freehold.

Location
Miles
19 miles south-west of Ipswich, 55 miles north-east of London, 45 miles south-east of Cambridge
Roads
A1124, A12, A134
Rail
Colchester Town Rail
Air
Southend Airport
Situation

The property is the former Essex & Suffolk Fire Office, a prominent historic building situated on the northern side of the High Street in Colchester town centre. The property is a short walk from Culver Square Shopping Centre, which houses retailers such as Debenhams, TK Maxx, H&M and Clarks. Other nearby occupiers include Williams & Griffin Department Store, Cooperative Bank, Barclays Bank, Oasis Ladies Wear, William Hill and Burger King.

Tenure

Freehold.

Description

The property comprises three ground floor retail units with first floor ancillary accommodation and five recently refurbished residential units on the remaining first and second floors (one sold off on a long lease).

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises three ground floor retail units with first floor ancillary accommodation and five recently refurbished residential units on the remaining first and second floors (one sold off on a long lease).

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review/(Reversion)
156b Ground
First
Retail
Ancillary
26.79 sq m
19.57 sq m
(288 sq ft)
(211 sq ft)
INDIVIDUALS
(t/a Sweet News)
Holding over (see note 1) £15,000 (1) Holding over
156c Ground
First
Retail
Ancillary
40.50 sq m.
34.08 sq m
(436 sq ft)
(200 sq ft)
INDIVIDUAL (t/a
Roosters Peri Peri)
20 years from 29/01/2014
until 28/01/2034 (2)
£20,000 29/01/2019 and
5 yearly
156d Ground/
First
Retail
51.30 sq m
(552 sq ft)
SUBWAY REALTY
LTD (3)
15 years from 07/01/2005 £18,500 (06/01/2020)
Flat A First Residential
Two Bedroom Flat
INDIVIDUAL AST for 1 year from
31/12/2014
£7,200 (30/12/2015)
Flat B First Residential
One Bedroom Flat
INDIVIDUAL AST for 1 year from
09/09/2015
£6,900 (08/09/2016)
Flat C Second Residential
One Bedroom Flat
INDIVIDUAL AST for 1 year from
30/10/2015
£6,600 (29/10/2016)
Flat D Second Residential
Studio
INDIVIDUAL AST for 1 year from
17/09/2015
£6,600 (16/09/2016)
Flat E Second Residential
Not Measured
INDIVIDUAL 125 years from 01/08/2010 £250 25 yearly fixed
uplifts
Total Commercial Areas  
156.76 sq m
(1,687 sq ft)
    £81,050  

(1) The tenant is currently holding over on a previous lease. The seller has agreed to grant a new 10 year lease from 01/01/2015 at a rent of £15,000 p.a. with a fixed uplift to £17,000 from 01/01/2018 and open market reviews on 01/01/2020 and 01/01/2025. The lease will provide an option to determine on 31/12/2019.
(2)The lease provides a tenant’s option to determine on 29/01/2024, subject to 6 months’ notice.
(3)Subway is a global fast food provider with more than 37,000 Subway stores in 100 countries; all stores are independently owned and operated by franchisees. The UK is the largest market outside North America. (Source www.subway.com 21/09/2015)

Property Documents

  • Catalogue Page
    Updated Date
    18.11.15
    File Size
    862 KB
    View PDF
  • Site Plan
    Updated Date
    18.11.15
    File Size
    85 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Machins Solicitors LLP Victoria Street
Luton
Bedfordshire
LU1 2BS
Hugh Beeley 01582 514316hugh.beeley@machins.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now