191-193 Magdalen Street, Colchester, Essex, CO1

Investment Consideration:
Vacant possession
ERV: £78,000 p.a. GIY: 9.81%
VAT is NOT applicable to this property
Comprises former vehicle repair workshop with associated garages and office building
Benefits from a variety of inspection pits, two hydraulic car lifts, roller shutter loading doors with two entrance gates
Total site area 0.295 acres (0.119 hectares)
Adjacent to Colchester Town rail station and close to the First Site art gallery and links to the Hythe commercial area to the east.
Colchester Town rail station provides direct and regular services to London Liverpool street with average travel time of 1:10h

Property Description:
Comprises former vehicle repair workshop with associated garages and office building. The property benefits from a variety of inspection pits, two hydraulic car lifts, roller shutter loading doors with two entrance gates leading into a large secure and part surfaced yard on a total plot of 0.295 acres with 27.8m main road frontage. The property provides the following accommodation and dimensions:
Workshop 1: 136.6 sq m (1,470 sq ft)
Single storey open plan garage/workshop
Workshop 2: 229.4 sq m (2,470 sq ft)
Single storey open plan garage/workshop
Office/Store: 52.5 sq m (565 sq ft)
Two storey self-contained building
Double Garage: 38.1 sq m (410 sq ft)
Total GIA: 456.6 sq m (4,915 sq ft)

Location:
The City of Colchester, with a resident population approaching 200,000 people and, one of the fastest growing urban centres in the UK over the past 20 years, provides excellent communication links via the A14 to the M25 (J. 28) Stansted Airport and the M11 via the A120 and to the Midlands via the A14 at Ipswich. There are mainline rail links to London Liverpool Street with a fastest journey time of 46 minutes. The property occupies a busy arterial road position on the south-east corner of the City, adjacent to Colchester Town rail station and close to the First Site art gallery and links to the Hythe commercial area to the east.