135 - 137, High Street
Colchester
Essex
CO1 1SP

Well Let Restaurant Investment

  • Entirely let to Bill's Restaurants Limited until 2035 (no breaks)
  • Located within popular university town
  • Prominent corner position on High Street
  • Nearby occupiers include Wagamama, McDonald's and Marks & Spencer
  • Lot
    28
  • Auction
    11/Dec/2019
  • Rent
    £85,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,500,000
  • Sector
    Restaurant
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • 135 - 137, High Street<br>Colchester<br>Essex<br>CO1 1SP
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* More information on the term "price" can be found here

Property Information

Location
Miles
20 miles south-west of Ipswich
24 miles north-east of Chelmsford
Roads
A12, A120, A133, M11, M25
Rail
Colchester Railway Station
Air
London Stansted Airport
Situation

Colchester is a popular university and historic town located 20 miles south-west of Ipswich. The property is located in a prominent position, fronting High Street in the heart of Colchester town centre. The property is adjacent to Colchester Town Hall, with nearby restaurant occupiers including Wagamama, Five Guys and McDonald's. Other nearby occupiers include Marks & Spencer, White Stuff and Mountain Warehouse. Culver Walk Shopping Centre is also located within close proximity.

Tenure

Virtual Freehold. Held for a term of 999 years from 23/12/2015 at a rent of ?2 per annum.

Description

The property comprises an attractive corner building, currently arranged to provide a ground and part first floor restaurant with basement and part second floor ancillary accommodation.

VAT

VAT is applicable to this lot.

EPC

Band E. Available to download in legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
Basement
First
Second
Restaurant
Ancillary
Restaurant/Ancillary
Ancillary
147.31 sq m
74.69 sq m
72.88 sq m
Not measured
(1,585 sq ft)
(803 sq ft)
(784 sq ft)
BILL’S RESTAURANTS
LIMITED (1)
20 years from 24/04/2015 to
23/04/2035 on a full repairing and
insuring lease
£85,00024/04/2020
and five
yearly
Totals 
294.88 sq m
(3,172 sq ft)
  £85,000 

(1) For the year ending 30 July 2017, Bill's Restaurants Limited reported a turnover of £118,572,000, pre-tax profits of £4,880,000 and a total net worth of £20,425,000 (Source: Experian Group 13/11/2019). Bill's operates approximately 79 restaurants across the UK (Source: https://billswebsite.co.uk/restaurant-list 13/11/2019).

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    27.11.19
    File Size
    22 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
Bidwells LLP 25 Old Burlington Street
London
W1S 3AN
Mike Fox 0207 297 6273mike.fox@bidwells.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
0203 036 7702
Barbara Eilon 0203 036 7202beilon@fladgate.com

Useful Links

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