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COMMERCIAL

Magdalen Street, Colchester, Essex

Offers in Region of
£55,000
Boydens, Colchester
PROPERTY TYPE

Commercial Property

SIZE

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Key features

  • MIXED RESI/COMM' INVESTMENT
  • EDGE OF TOWN CENTRE
  • INVESTOR OPPORTUNITY
  • PROMINENT LOCATION
  • GROUND RENT INCOME
  • SOLE AGENTS
  • SHOP INCOME
  • SHOP EPC - D

Description

A superb opportunity to acquire the freehold of a mixed residential/commercial property. The ground floor shop unit is let on a 3 year agreement with a break clause after 12 months. The new tenants moved in on 1st June 2019 and is being let as a retail unit specialising in the sale of African goods. The rent is £300 PCM exclusive.

Behind the shop is a newly converted ground floor flat, 8C which will retain the rear garden. It is being sold or let separately on a new 125 year lease with a ground rent set at £100 per annum. The purchasers will enjoy the ground rent income from the 3 leasehold flats, one behind and two above. An imposing, three storey, end-terraced, Victorian building with red facing brickwork to the side and rear elevations with Suffolk white bricks to the front elevation with stone sills/lintels under a pitched, slate covered roof. A single storey extension to rear rendered finish to outer walls under a pitched, interlocking concrete tiled roof.

LOCATION -
A prominent eastern edge of town centre position close to the Mersea Road roundabout overlooking the St Botolph's Colchester Town railway station, court, church and grounds, and further views over the town in the distance. There are other mixed commercial retail shops in Magdalen Street, and residential units, mainly terraced houses or buildings converted to flats.

ACCOMMODATION:-

(1) 8 MAGDALEN STREET - GROUND FLOOR LOCK UP SHOP:-

Approximately 19 Sqm.

FLATS 8A & 8B (First and Second Floor) -
These are understood to be approximately 51' Sqm. Both flats were sold on 125 year leasehold interests. Current ground rent £50.00 per annum. The Leases are dated February 2010. Land Registry copies are available upon request from the Selling Agents.

FLATS 8C (Rear Ground Floor) -
Recent conversion with rear garden/yard.

SERVICES -
All mains services are connected with the exception of Gas.

Magdalen Street, Colchester, Essex

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Colchester Town Station0.0 miles
  • Hythe Station1.0 miles
  • Colchester Station1.1 miles

About the agent

Boydens, Colchester

Aston House, 57-59 Crouch Street Colchester CO3 3EY

Boydens, Colchester

Welcome to Boydens Colchester Branch.

We are here to support you on every stage of your home moving journey. As a family business with its roots in the 1960’s, Boydens today is a team of committed professionals who work to deliver an exceptional service in the Colchester area.

Rely on us for straight-forward advice on all aspects of your property moving journey, whether selling or letting, we have the answers.

We know the areas you want to live in as we live there ourselves,

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Industry affiliations

National Association of Estate AgentsOmbudsman for REsale Estate Agents (no OFT logo)Association of Residential Letting Agents

Notes

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Disclaimer - Property reference 2469478. 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 Boydens, Colchester. 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.

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