Magdalen Street, Colchester, CO1

Guide Price £400,000 - £425,000
An investment opportunity to acquire a substantial Grade II listed property with previous change of use of existing dwelling house to a 14 bedroom house in multiple occupation and erection of replacement building at rear to provide a 7 bedroom house in multiple occupation.

A brief synopsis of the accommodation:

Entrance hall has stairs to the first floor. There is a spacious lounge with exposed timbers and a central fireplace, and there is a room to the rear which has been used as a bedroom (with no window). There is a lobby with stairs down to the basement, door to outside and open to a kitchen with worksurface with inset sink, gas hob and oven under, lobby with door to bathroom with panel bath, wc and wash basin. The sizeable basement offers a storage area or could be used for a variety of uses.

On the first floor are stairs to the first floor and five bedrooms, a sitting room with dual aspect windows and a shower room with shower cubicle, wc and wash basin.

On the second floor is a small landing with doors to four bedrooms, kitchen and bathroom with bath, wc and wash basin.

Outside
There is a carport (dependent upon car size) with access to the rear garden which extends to around 100' in depth. The area is generally laid to concrete, to the rear of which is a brick outbuilding which will need to be demolished and an additional dwelling constructed to the addition of 7 units for the HMO.

All potential developments will be subject to obtaining the necessary building and listing consent.


Location

As previously mentioned the property occupies a prominent position on the outskirts of central Colchester easily accessible to Colchester railway station, Castle Park and the City centre's main amenities.

Directions

Please use postcode CO1 2LA.

Important Information

Council Tax Band - D
Services - We understand that mains water, drainage, gas and electricity are connected to the property.
Tenure - Freehold
EPC rating - tbc

Agents note
We are advised by the vendors that there is a covenant that prohibits the manufacture or sale of alcohol from this premises.

We are advised that there has been a planning consent for a change of use to a 14 bedroom house of multiple occupation and the erection of a replacement building at the rear to provide a 7 bedroom house of multiple occupation (application number 180116). We advise all potential buyers to check the full details on the Colchester Borough Council Planning website prior to entering into any formal proceedings.