24 / 24a High Street, Earls Colne, Colchester, CO6 2PA

LOCATION
The property is located in Earls Colne, a large village with an affluent population in the Colne Valley, close to the Essex/Suffolk border in north Essex. The village is located approximately three miles east of Halstead, 11 miles west of Colchester, ten miles north east of Braintree. Earls Colne is near to the A120 which forms a main commuter belt through north Essex, linking to the M11 at Bishops Stortford for access to the M25 and the north.

Chappel & Wakes Colne railway station is situated approximately 2.6 miles to the east of the Property. From Chappel & Wakes Colne there are direct services to Marks Tey (6 mins), Bures (6 mins) and Sudbury (14 mins).

London Stansted Airport is situated approximately 20 miles (26 miles by road) to the west of the Property.

SITUATION

Earls Colne is a large village with an affluent population. The High Street of which the subject premises forms part, has various different businesses trading from it including, Co-operative Store (Convenience Store), Chinese Takeaway, Boots Pharmacy, Hairdressers, Estate Agents, Gift, Fish Mongers, Picture Gallery, Opticians, Indian Takeaway, Café etc.

The subject property is situated to the west of the High Street on the south side diagonally opposite the Red Lion Public House & Restaurant and within close proximity to the Co-operative Supermarket. There is on street parking bays directly outside the shop premises (60minutes) as well as directly opposite.

DESCRIPTION
The property comprises a circa 18th Century detached timber framed two storey mixed commercial and residential property.

Ground floor commercial shop

The ground floor, commercial element has previously been divided into two separate shops with two UPVC Double Glazed entrance doors and glazed windows.

Self-contained first floor residential flat

First floor self-contained spacious 3 bedroom flat accessed via an external metal rear staircase presented in good order having been recently refurbished to a good standard to include a new kitchen and bathroom. The flat extends to approximately 900 sq ft includes, kitchen, sitting room, inner hallway, three bedrooms benefitting from gas central heating and UPVC entrance door and windows throughout.

SITE

The site itself is irregular in shape, with a site area of approximately 0.04 acres and a site cover of approximately 32.5%.

The rear yard and parking area can be accessed directly from the High Street via a narrow driveway to the rear over a right of way. The access from the High Street has a tarmac surface with parking to the rear for 5 vehicles, turning and storage or could be used for alternative courtyard/garden areas.

TENANCY

The ground floor will be sold with vacant possession although interest has been received from various occupiers since the Butchers, Florists and Deli have vacated.

The first floor residential flat is let on an Assured Shorthold Tenancy basis to an individual with a passing rent of £10,320 pa (£860 per calendar month).

TERMS
The freehold is available with vacant possession of the ground floor commercial and the existing residential tenant for £275,000 freehold. (no VAT)

OUTGOINGS
COUNCIL TAX AND BUSINESS RATES

Residential

We have made informal online enquiries of the Valuation Office Agency´s Council Tax Valuation List which confirms that the subject Property is currently listed within B for Council Tax purposes.

Commercial

We have made informal online enquiries of the Valuation Office Agency. The subject Property is assessed for the purposes of the 2023 Rating List as follows:

Colne Valley Butchers, 24-26 High Street, Earls Colne, Colchester
Rateable Value - £10,750
Rates Liability - £5,364

VAT
We have been advised that the property is not elected for VAT.

LEGAL COSTS
Each party is to be responsible for their own legal fees in relation to any transaction.

OTHER
TITLE NUMBER

AA35144

ANTI-MONEY LAUNDERING REGULATIONS

Anti-Money Laundering Regulations require Nicholas Percival to formally verify purchasers identity, residence and source of funds prior to instructing solicitors.

REF: C5916

VIEWING
Strictly by prior appointment with the sole agents, Nicholas Percival Chartered Surveyors.