21 - 23 Head Street Colchester Essex CO1 1NH

21 - 23 Head Street
Colchester
Essex
CO1 1NH

Freehold Retail and Office Investment

Two Retail Units with Office Accommodation Above Let to Solicitors
To be Part Let to Tenant Trading as Coffee Republic on New 15 Year Lease (Subject to Option)
Town Centre Location opposite Debenhams
Extensive frontage onto Head Street and Church Street
Nearby occupiers include Nandos, Odeon Cinema, H&M and Haart
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
77
Auction
13th October 2016
Rent
£57,000 per Annum Exclusive
Status
Sold
Price
£710,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Important Update Interested?

Expand
Photos
Map

Freehold Retail and Office Investment

Two Retail Units with Office Accommodation Above Let to Solicitors
To be Part Let to Tenant Trading as Coffee Republic on New 15 Year Lease (Subject to Option)
Town Centre Location opposite Debenhams
Extensive frontage onto Head Street and Church Street
Nearby occupiers include Nandos, Odeon Cinema, H&M and Haart
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 77
Auction 13th October 2016
Rent £57,000 per Annum Exclusive
Status Sold
Price £710,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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, a part Grade II listed building, is situated in the town centre on the western side of Head Street, opposite Debenhams which forms part of the Culver Square Shopping Centre housing
other occupiers including Monsoon, H&M, Clarks and T K Maxx. Other nearby occupiers include Halifax, Nandos, Odeon Cinema and Hudson Bar & Restaurant.

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

Tenure

Freehold.

Description

The property comprises two ground floor retail units with self contained office accommodation above, accessed from Church Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises two ground floor retail units with self contained office accommodation above, accessed from Church Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Reviews
21	Ground	Retail	62.80 sq m	(676 sq ft)	AMYZ LIMITED (To trade as Coffee Republic) (1)	15 years from September 2016 until September 2031 (2)	£26,500	September 2021 and September 2026
23	Ground	Retail	52.60 sq m	(566 sq ft)	INDIVIDUAL (t/a Sweet Land News)	15 years from 29/09/2014 until 28/09/2029 (3)	£18,000	29/09/2019 and 29/09/2024
	First Second	Office Office	111.66 sq m 35.90 sq m	(1,202 sq ft) (386 sq ft)	OBW PERERA LIMITED (t/a OBW Perera Solicitors) (4)	6 years from 23/12/2013 until 22/12/2019 (5)	£12,500	23/12/2016
Totals			262.96 sq m	(2,830 sq ft)			£57,000

(1) Coffee Republic are one of the UK's leading coffee chains with 25 coffee bars across the UK and additional 18 international bars. (Source: www.coffeerepublic.co.uk 12/09/2016)
(2) The lease is due to complete imminently and provides a tenant only option to determine on the fifth anniversary of the term.
(3) The lease provides for a tenant only option to determine on 29/09/2017.
(4) OBW Perera is a specialist criminal defence law practice. (Source: www.obwperera.co.uk 12/09/2016)
(5) The lease provides a tenant only option to determine on 23/12/2017.