101-104 High Street & 6-12 Museum Street Colchester Essex CO1 1TH

101-104 High Street & 6-12 Museum Street
Colchester
Essex
CO1 1TH

Substantial Retail and Commercial High Street & Ground Rent Investment

Includes two shops, let to tenants trading as ABI Food & Wine Convenience Store and Blackstone Kitchens
Convenience Store let on new 20 year lease from October 2020 (No breaks)
Prominent High Street location close to Colchester Castle Park
Nearby retailers include Primark, Marks & Spencer, Boots the Chemist, The Body Shop, Bang & Olufsen, British Heart Foundation and Toni & Guy

Lot
31
Auction
13th December 2021
Rent
£40,200 per Annum Exclusive
Status
Sold
Price
£405,000
Auction Venue
Live Streamed Auction

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Substantial Retail and Commercial High Street & Ground Rent Investment

Includes two shops, let to tenants trading as ABI Food & Wine Convenience Store and Blackstone Kitchens
Convenience Store let on new 20 year lease from October 2020 (No breaks)
Prominent High Street location close to Colchester Castle Park
Nearby retailers include Primark, Marks & Spencer, Boots the Chemist, The Body Shop, Bang & Olufsen, British Heart Foundation and Toni & Guy

Lot 31
Auction 13th December 2021
Rent £40,200 per Annum Exclusive
Status Sold
Price £405,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles east of Braintree; 60 miles north-east of Central London
Roads: A12, M25
Rail: Colchester Town
Air: London Southend

Situation

Colchester is an attractive and historic market town in Essex, some 60 miles north-east of Central London. The property is located in a prominent position with frontages to High Street and Museum Street. The property is close by to Lion Walk Shopping Centre with retailers including Primark, Boots the Chemist and The Body Shop. Other nearby retailers include Marks & Spencer, Bang & Olufsen, British Heart Foundation and Toni & Guy.

Tenure

Freehold. Freehold (102 High Street & 6-12 (even) Museum Street) & Long Leasehold: -101 High Street-Held for a term of 999 years from 25/03/2015 at £100 pa. -103 & 104 High Street-Held for a term of 999 years from 25/03/2015 at £100 pa.

Location

Miles: 17 miles east of Braintree; 60 miles north-east of Central London
Roads: A12, M25
Rail: Colchester Town
Air: London Southend

Situation

Tenure

Description

The property is predominantly arranged on the ground floor & basement to provide a double fronted convenience store and a kitchen shop. The property also provides a further shop fronting High Street (102 High Street) as well as two small shops and offices above (6-12 (even) Museum Street), all let on long leases.

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk.

Description

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
101 High Street	Ground Basement	Retail/Ancillary Ancillary	103.70 sq m -	(1,116 sq ft) (-)	JR SALES LIMITED t/a Blackstone Kitchens (1)	10 years from 07/11/2017 until 06/11/2027 (2)	£20,000	07/11/2022
103-104 High Street (Part)	Ground	Retail/Ancillary	157.20 sq m	(1,692 sq ft)	S. SHANMUGANATHAN t/a ABI Food & Wine	20 years from 14/10/2020 until 13/10/2040	£20,000	14/10/2025 and five yearly thereafter
102 High Street, Part 103-104 High Street & 6-12 Museum Street	Ground	Retail/Ancillary	-	(-)	VARIOUS	Various long leases, please see legal pack	£200	-
Total			260.90 sq m	(2,808 sq ft)			£40,200

(1) Blackstone Kitchens are designers, manufacturers and installers of classic and contemporary English handmade cabinetry (www.blackstonekitchens.co.uk).
(2) The lease is subject to a tenant option to determine on 07/11/2022.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.