LOCATION
Situated within the jurisdictions of Colchester City Council and Essex County Council, this property lies approximately 0.5 miles south of Colchester´s City centre.

Colchester itself is positioned about 60 miles northeast of London, accessible via the A12, and 30 miles east of London Stansted Airport via the A120. Occupying a prime spot in the city centre at the top of Balkerne Hill, the building is adjacent to St Mary´s Arts Centre and The Mercury Theatre, directly opposite St Mary´s NCP car park, and close to Crouch Street and Lexden. The site forms part of the "Colchester Town Centre" conservation area.

Conveniently, it is within walking distance of the mainline railway station, high street, and vibrant city centre, offering a prominent and highly accessible location.

Communications:

- The M25 motorway is approximately 33 miles to the southwest by road.
- 19 miles southwest of Ipswich by road.
- 68 miles northeast of London by road.
- Colchester railway station is 0.9 miles to the north, offering direct services to Shenfield ( 34 minutes ), London Liverpool Street ( 47 minutes ), and Stratford ( 50 minutes ).
- London Stansted Airport is 28 miles to the west.

DESCRIPTION
KEY FEATURES

- Detached 4 storey office building
- 9,651 sq.ft ( 896.6 sqm ) GIA approximately
- Prominent city centre location
- Suitable for alternative uses/redevelopment s.t.p
- Views to the rear over St Mary´s Arts Centre
- Walking distance to mainline railway station
- On-site parking spaces plus 4 x double garaging bays

The property, constructed in the late 1970s/1980s, features a concrete frame with brick walls beneath a pitched roof clad in concrete tiles. It is arranged over four levels, including a basement/ground floor area with four double garage bays for secure parking and storage, plus, first, second, and third floors with an additional loft area. An internal communal stairwell provides convenient access to separate landings on each floor, supported by dedicated kitchen and WC facilities on the three office levels.

Above the basement/ground floor, the accommodation comprises three spacious open-plan office floors, with an estimated floor-to-ceiling height of 2.6 meters. A forecourt at the front of the site offers additional parking provisions.

This versatile property presents significant potential for an owner occupier or alternatively residential redevelopment, subject to obtaining the necessary planning consents and approvals.

TENURE

For sale freehold at a guide price of £575,000 s.t.c unconditional.

The premises are currently occupied by two tenants on leases contracted outside the Landlord & Tenant Act 1954, one tenant is holding over with the other lease expiring Sept 2026, at a combined annual rent of £33,000 pax.

ACCOMMODATION
Approximate Gross Internal Floor Area:

Garaging / Storage 2,422 sq. ft. 225 sqm

First Floor 2,241 sq. ft. 208.2 sqm

Second Floor 2,096 sq. ft. 194.7 sqm

Third Floor 2,096 sq. ft. 194.7 sqm

Loft 796 sq.t. 74.0 sqm

Total 9,651 sq. ft. 896.6 sqm.

Site Description:

The site extends to approximately 0.051 hectares (0.126 acres).

The site coverage of the property is 47.5%.

SERVICES
All mains services including water, drainage, gas and electricity are connected to the property.

OUTGOINGS
Business Rates:

Informal enquiries with the Valuation Office Agency for the 2023 Rating List indicate the following:

Basement: £2,025

Ground Floor: £17,750

First Floor: £17,750

Second Floor: £16,500

Interested parties should verify these details with the local authority.

LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the transaction.

PLANNING
The premises are currently used as offices. A change of use to residential or alternative uses such as medical may be possible, subject to obtaining the necessary planning permissions. Interested parties are advised to make their own enquiries with the local planning authority (Colchester City Council).

OTHER
VAT

We have been advise that VAT is not applicable.

Anti-Money Laundering Regulations:

In accordance with Anti-Money Laundering Regulations, the agents will require verification of the prospective purchaser´s identity, residence, and source of funds prior to instructing solicitors.

VIEWING
Strictly by prior appointment only with sole agents Nicholas Percival.

FAO: Max Copeland

C6022