Datchet House, 4 London Road, Colchester

FOR SALE Guide Price £520,000 STC

Freehold Block comprising 6 One Bedroom Flats, producing £43,200 per annum, let by way of AST's.

Datchet House, an opportunity to acquire a fully occupied block of 6 flats, let on Assured Shorthold Tenancies, located London Road, between Tollgate Retail Parks and the City Centre.  

Location The property is located along the busy London Road, in Lexden, Colchester, approximately 1.5 miles west of the City Centre, with Stanway and Tollgate Retail Parks, 1.3 miles to the west. The A12 is located 0.7 miles to the east via Spring Lane Roundabout (south bound only) and 1.5 miles to the west at junction 26 (north and south bound).

London Road is a prominent thoroughfare offering excellent accessibility to the A12, which provides direct routes to Chelmsford, Ipswich, and London. The property is situated along a main bus route on London Road, connecting the city centre with Tollgate Retail Park in Stanway.

Colchester North Station is located 2.4 miles to the east, on the mainline to London Liverpool Street with average journey times of approximately one hour. 

Description Datchet House comprises a block of six one bedroom flats across ground, first and second floors. There are two flats located on each floor, accessed via a central stairwell.

The property is constructed in c. 1960's of brick elevations under a flat felt roof. Internally each flat comprises one bedroom, a kitchen, living room, bathroom and storage cupboards, benefitting from gas central heating, double glazed UPVC windows, electric hob / oven and shower over bath.

Externally, the flats benefit from one car parking space each (6 car parking spaces total) and a small communal garden located to the rear. 

ACCOMMODATION The following accommodation schedule provides an example of each flat*.

Description Floor Area M2 Floor Area sq ft
Kitchen 6.41 69
Living Room 15 161
Bedroom 13.53 146
Bathroom 5.52 59
Total 40.46 435

*note: Not all flats have been inspected.  

Tenancies Each flat is let privately by way of Assure Shorthold Tenancy, details as follows:
Flat No. Tenant Terms Annual Rent
1 Private AST £7,200 pa
2 Private AST £7,200 pa
3 Private AST £7,200 pa
4 Private AST £7,200 pa
5 Private AST £7,200 pa
6 Private AST £7,200 pa
Total £43,200
 

SERVICES We understand each flat benefits from its own electric, water and gas supplies, and is connected to mains drainage.  

GUIDE PRICE Offers are invited in the region of £520,000 for the freehold interest subject to, and with the benefit of the existing AST's.
 

TENURE 4 London Road - Freehold Title Number EX481885
 

COUNCIL TAX Each flat is in Band B for the purposes of Council Tax. The local authority is Colchester City Council.
 

VIEWING Viewing is strictly by prior appointment with the sole agents, Nicholas Percival Chartered Surveyors.

FAO: Billy Coe


C5984