Get brand editions for Nicholas Percival, Colchester - Sales

Commercial Property for sale

68 London Road, Lexden Road, Colchester

Sold STC £150,000

Property Description

Full description

Tenure: Freehold

LOCATION Property Title Number EX505898 is located close to the junction of London Road and Straight Road in Lexden 1.5 miles from Colchester town centre, along one of the main routes to the A12 trunk road. The Tollgate interchange being approximately one mile distant. London Road, Lexden is a busy main road which links directly with Tollgate Retail Park in Stanway comprising more than 300,000 sq ft of retail accommodation. The property is adjacent to various occupiers and retailers to include David Martin Estate Agents, Aldi Supermarket, Phoenix Chinese Takeaway and on the opposite side, the recently closed National Westminster Bank, Aga Retail and Nicholas Anthony Kitchens. 

DESCRIPTION The property comprises a ground floor lock up shop unit, extending to approximately 600 sq ft, benefiting from front and rear access with main road frontage on to the busy London Road, Lexden and rear car parking for staff and customers. 

TENANCY The ground floor is let to Ladbrokes under a commercial lease dated 3rd June 2005 for a period of 15 years from 19th July 2005, expiring 18th July 2020, paying a current passing rent of £10,000 per annum, with rent reviews every fifty anniversary of the term. The rent review 19th July 2015 has not been settled. 

GUIDE PRICE We are instructed to seek offers of £150,000 freehold, subject to contract and the commercial lease to Ladbrokes, producing a rental income of £10,000 per annum.

A purchase at £150,000 would reflect a gross initial yield of 6.67%. VAT is not applicable.
 

LEGAL COSTS Each party to bear their own legal costs in connection with this transaction 

ENERGY PERFORMANCE CERTIFICATE EPC available upon request. 

VIEWINGS Strictly by prior appointment with the sole agents Nicholas Percival Chartered Surveyors on 01206 563222 or info@nicholaspercival.co.uk FAO: Tom Noble. 


More information from this agent

Nearest stations

  • Colchester (1.9 mi)
  • Colchester Town (2.2 mi)
  • Marks Tey (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas Percival, Colchester - Sales

Beacon End Farmhouse London Road, Stanway, CO3 0NQ

01206 916155 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Colchester (1.9 mi)
  • Colchester Town (2.2 mi)
  • Marks Tey (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas Percival, Colchester - Sales

Beacon End Farmhouse London Road, Stanway, CO3 0NQ

01206 916155 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 101551001740. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Nicholas Percival, Colchester - Sales. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.