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

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

  • 101-104 High Street & 6-12 Museum Street<br>Colchester<br>Essex<br>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
    13/Dec/2021
  • Rent
    £40,200 per Annum Exclusive
  • Status
    Sold
  • Price*
    £405,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

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

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

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.

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

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.

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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    531 KB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    749 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Seller's Solicitors
Structadene Group 9 White Lion Street
London
N1 9PD
James Thomson 0207 843 9196james.t@pearl-coutts.co.uk

Useful Links

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

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