Freehold Retail and Residential Ground Rent Investment
Majority let to East of England Cooperative Society Limited
Lease expiring September 2037 (no breaks and sublet)
Affluent and historic Essex village
Immediate asset management opportunities
Large double fronted shop of approx. 229.97 sq m (2,474 sq ft)
Prominent position on High Street
Lot 38
Auction 27th March 2025
Rent £28,285 per Annum Exclusive
Status Available
Guide* £225,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles west of Colchester, 7 miles east of Braintree, 16 miles north east of Chelmsford
Roads
A131, A120
Rail
Chapel and Wakes Colne Railway Station
Air
London Stanstead Airport
Situation
The property is situated on the north side of the busy High Street in the heart of the village centre of Earls Colne. Nearby occupiers include a number of independent retailers, restaurants and cafes.
Tenure
Freehold.
Location
Miles
8 miles west of Colchester, 7 miles east of Braintree, 16 miles north east of Chelmsford
Roads
A131, A120
Rail
Chapel and Wakes Colne Railway Station
Air
London Stanstead Airport
Situation
The property is situated on the north side of the busy High Street in the heart of the village centre of Earls Colne. Nearby occupiers include a number of independent retailers, restaurants and cafes.
Tenure
Freehold.
Description
The property comprises a large double fronted shop together with residential accommodation on the first and attic floors which has been let on a long lease. The property includes storage yard to the rear and this is shared with the residential flat above.
VAT
VAT is applicable to this lot.
EPC
D90 (Retail)
Description
The property comprises a large double fronted shop together with residential accommodation on the first and attic floors which has been let on a long lease. The property includes storage yard to the rear and this is shared with the residential flat above.
VAT
VAT is applicable to this lot.
EPC
D90 (Retail)
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Ground Lower Ground
Retail Ancillary
220.52 9.45
(2,373) (101)
EAST OF ENGLAND COOPERATIVE SOCIETY LIMITED (2)
30 years from 28/09/2007 until 27/09/2037
£28,285
First/Attic
Residential
-
-
INDIVIDUAL
999 years from 13/10/1997
Peppercorn
Total Approximate Commercial Floor Area
229.97
(2,474)
£28,285
(1) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (2) The East of England Cooperative Society are the largest independent retailer operating in the East of England. We provide food stores and specialist services, such as funerals, security, travel agents and petrol filling stations to communities across Essex, Norfolk, Suffolk, Cambridgeshire and Hertfordshire (www.eastofengland.coop). Please note the convenience store has been sublet.
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.
