- Price £ 395,000
- Agent Neil Mansell
- Property type Other Business
- Reference EX3786
- Year built 2004
- Contract type Freehold
- Location Colchester
- Listing categories Other, Retail
A long leasehold commercial property available on a vacant possession basis with the flexibility and options to use in an alternative way. Currently consisting of a ground floor retail area and first floor storage however this could be used for retail as well as office or with potential for residential use, subject to the relevant permissions.
Newly built in 2004 this is a modern and well-presented commercial unit which would suit an investor or end user looking for a home for their business.
The property is situated in the town of Colchester. It is also a short distance from Hythe Quay train station with direct access into London Liverpool Street.
Located on Haven Road and with visible traffic and pedestrian passers by the location is ideal for a number of different businesses including retail and office. There is a good mix of commercial and residential occupiers in this area.
The main shopping centre of Colchester is approximately 5 minutes drive away and the Hythe Quay part of Colchester has seen major redevelopment in recent years and will continue to improve and change moving forwards.
The property, built in 2004 is situated in a mixed development of commercial and residential accommodation and is on the ground and first floor of the building.
The front of the shop faces onto Haven Road which is a busy road with lots of passing traffic. The owners fitted out the shop from scratch and it includes a lift, ground floor w.c. as well as stairs to the first floor and rear access with 1 parking space for a van.
The first floor is currently used for storage but could be used for more retail space or office use. Subject to the relevant permissions there
maybe opportunity for development for residential use. There is a kitchen area and toilets on the first floor.
We have measured the property to be approximately 2,700 sq.ft.
Ground rent = £312 per annum
Service charge = Approx £1,200 per annum (TBC)
Lease length = 159 years from Oct 2004 (144 years remaining)
Planning Use: A1, A2, A3 & B1 (E Class from Sept 2020)
The Rateable Value (RV) is £13,750 from April 2017. The business does not currently have to pay business rates. Please see the Valuation Office Agency website at www.voa.gov.uk for more information.
To include long leasehold premises: £395,000
The Rating is ‘D’.