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100 High St, Colchester CO1 1TH – Colchester

Shop, retail unit for sale

£250,000 992 sq ft

Nicholas Percival
Full address
100 High Street, Colchester, Essex CO1 1TH – Colchester
Contact details

020 *** ****

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Property type
Shop, retail unit for sale
Asking price
£250,000
Features
Telephone system, Train transport
Size
992 sq ft
Tenure
Freehold
NIY (%)
7
Brochure
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Located in an established town centre position Retail Shop trading as Haven Hospices Charity Let until August 2025 (tenant break August 2020) Current Rent Reserved £17,500 per annum
LOCATION Colchester, on the River Colne, has a population of approximately 104,000, and is a major commercial, retail and administrative centre, located some 53 miles north-east of Central London and is home to the University of Essex. The town is serviced by the A12 trunk road, which provides a dual carriageway link to the M25 Motorway and via the A14 dual carriageway to Ipswich and the Port of Felixstowe. There is a rail service to London (Liverpool Street) with journey times of approximately 55 minutes.
The property is situated in an established trading location within the town centre, on the north side of High Street, close to the junction with East Hill and Queens Street close to the pedestrian entrance to Colchester Castle and Castle Park, undeniably one of the most important historic buildings in the country attracting 100,000 visitors and tourists each year and within close proximity to the Visual Arts Museum. The premises are located within close proximity to complementary uses to include Cash Converters, Bang Olsen, The Castle Public House, Three Wise Monkeys, Slug and Lettuce and Emmaus.
The property comprises a mid-terrace shop over ground, first and second floors, the ground floor area extends to approximately 992 sq. ft. with further upper floor of circa 506 sq. ft. we have calculated the ITZA to be 596 sq. ft.
OTHER TENANCY The entire property is Let to Havens Christian Hospice Charity Shop www.havenshospices.org.uk/ for a term of 10 years from 14th August 2015 expiring 13 August 2025 with rent reviews every fifth anniversary of the term and Tenants only option to break on the 14th August 2020 upon six months prior written Notice with the Tenant paying a rent of £17,500 per annum quarterly in advance. The Tenant has lodged with the Landlord a holding deposit of £4,000.
GUIDE PRICE We are instructed to seek offers of £250,000 Freehold subject to contract and the commercial lease with Haven Christian Hospice producing a rental income of £17,500 per annum. A purchase at £250,000 would reflect a gross initial yield of 7%.
Located in an established town centre position Retail Shop trading as Haven Hospices Charity Let until August 2025 (tenant break August 2020) Current Rent Reserved £17,500 per annum
LOCATION Colchester, on the River Colne, has a population of approximately 104,000, and is a major commercial, retail and administrative centre, located some 53 miles north-east of Central London and is home to the University of Essex. The town is serviced by the A12 trunk road, which provides a dual carriageway link to the M25 Motorway and via the A14 dual carriageway to Ipswich and the Port of Felixstowe. There is a rail service to London (Liverpool Street) with journey times of approximately 55 minutes.
The property is situated in an established trading location within the town centre, on the north side of High Street, close to the junction with East Hill and Queens Street close to the pedestrian entrance to Colchester Castle and Castle Park, undeniably one of the most important historic buildings in the country attracting 100,000 visitors and tourists each year and within close proximity to the Visual Arts Museum. The premises are located within close proximity to complementary uses to include Cash Converters, Bang Olsen, The Castle Public House, Three Wise Monkeys, Slug and Lettuce and Emmaus.
The property comprises a mid-terrace shop over ground, first and second floors, the ground floor area extends to approximately 992 sq. ft. with further upper floor of circa 506 sq. ft. we have calculated the ITZA to be 596 sq. ft.
OTHER TENANCY The entire property is Let to Havens Christian Hospice Charity Shop www.havenshospices.org.uk/ for a term of 10 years from 14th August 2015 expiring 13 August 2025 with rent reviews every fifth anniversary of the term and Tenants only option to break on the 14th August 2020 upon six months prior written Notice with the Tenant paying a rent of £17,500 per annum quarterly in advance. The Tenant has lodged with the Landlord a holding deposit of £4,000.
GUIDE PRICE We are instructed to seek offers of £250,000 Freehold subject to contract and the commercial lease with Haven Christian Hospice producing a rental income of £17,500 per annum. A purchase at £250,000 would reflect a gross initial yield of 7%.

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