9 St. Botolphs Street, Colchester, Essex CO2 7DU
- PROPERTY TYPE
Takeaway
- SIZE
Ask agent
Key features
- Freehold commercial investment
- Established restaurant/takeaway
- First/second floor ancillary rooms
- Let on a 15 year lease from 2018
- Current rental income of £14,000 per annum
- Guide price: £120,000 - £140,000
- For sale by livestream auction
- Unless previously sold or withdrawn prior
- 11:00am, Wednesday 11th December 2024
Description
SOLD PRIOR
A high yielding commercial investment
Situated in a busy retail area in the heart of the city is this Freehold commercial investment providing an excellent annual income.
The property on the ground floor comprises a restaurant/takeaway with 24 covers, a kitchen/prep area, storage room, WC and refrigeration room, on the first and second floor are 5 ancillary rooms and a shower room.
The property is held on a 15 year lease from March 2018 at a current rent of £14,000 per annum, reviews are every 3 years with the next due in 2027.
With an annual return of over 11.5% based on the low Guide Price, this is without doubt a first class opportunity.
Tenure: Freehold
EPC Rating: Please refer to legal pack
Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Buyer's Premium Fee: £1140 inc VAT payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
9 St. Botolphs Street, Colchester, Essex CO2 7DU
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Colchester Town Station0.1 miles
- Colchester Station1.0 miles
- Hythe Station1.1 miles
About Auction House, East Anglia
The Barn Newmarket Road Cringleford Norwich NR4 6UE
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, East Anglia on 01603 361653.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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