1/1A Scheregate, Colchester, Essex, CO2

Investment Consideration:
Gross Initial Yield: 9.05%
Rental Income: £19,000 p.a.
VAT is NOT applicable to this property
Comprises Grade II Listed three-storey retail premises
Occupiers close by include Timpson, Cake Box, Restaurants, Beauty Salon, Café and more.

Property Description:
Comprises double fronted retail premises at ground floor with ancillary accommodation at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 56 sq m (603 sq ft)
Open plan retail, kitchen, storage, wc
First Floor: 55 sq m (590 sq ft)
3 rooms, kitchen
Second Floor: 12 sq m (132 sq ft)
1 room
Total GIA: 123 sq m (1,325 sq ft)

Tenancy:
The property is at present let to Jay Childcare Matters Ltd (with personal guarantee) for a term of 10 years from 18th July 2025 at a current rent of £19,000* per annum and the lease contains full repairing and insuring covenants. Rent review on 18.07.30 linked to RPI. Tenant option to determine on 18.07.30 with minimum 6 months notice. Deposit held of £4,750.
*Tenant currently pays reduced rent of £18,000 for Year 1. Vendor will top up rent until 18.07.26 so the buyer receives the equivalent to £19,000 p.a. from completion

Location:
Colchester has a resident population of circa 185,000 people and provides excellent communication links to the M25, Stansted Airport and the port of Harwich via the A120 and to the Midlands via the A14 at Ipswich. The property is situated on Scheregate Steps, a busy secondary trading location near St Johns Walk Shopping Centre which houses various multiples including Iceland and Poundstretcher plus a 650 space multi storey car park.