5 King Edward Quay, Colchester, Essex, CO2

Description

*reduced rents subject to lease terms and tenant covenant

The unit is of steel portal frame construction, with part brick and part profile steel cladding under a pitched roof incorporating translucent roof lights. The warehouse has a minimum eaves height of approx. 4.7m (apex of approx. 5.8m).

Accessed via the shared yard area is a manual roller shutter door (approx. 4m height x 2.9m width) which provides access to the warehouse, with internal doors leading to an office / reception area, tea point and WC facilities. A staircase leads to the first floor which comprises two separate offices. The premises benefits from electricity, lighting and gas warm air blower (not tested).

There are two additional entrances on the front elevation (double fully glazed personnel doors , and single personnel door), plus an additional personnel door next to the shutter for access / exit.

Externally there is a shared concrete yard area providing parking and loading / unloading facilities.

ACCOMMODATION
[Approximate Net Internal Floor Areas]

Ground Floor: 2,015 sq ft [187.2 sq m] approx.
First Floor: 505 sq ft [46.9 sq m] approx.
Total: 2,520 sq ft [234.1 sq m] approx.

TERMS
The premises are available to let on a new full repairing and insuring lease, lease length and terms to be agreed, a rent of £31,525 per annum plus VAT.

An initial introductory offer may be considered for years 1 and 2, subject to lease terms and tenant covenant, consisting of:

Year 1: £26,481 per annum (plus VAT)
Year 2: £29,003 per annum (plus VAT)

We are advised that VAT is applicable.

SERVICE CHARGE
A service charge is applicable to cover; maintenance of the estate communal areas and landscaping.
The approx. cost for the current year £593.50 per quarter plus VAT.

BUSINESS RATES
We are advised that the premises have a rateable value, with effect from the 1st April 2023, of £14,750.
For ratable values between £12,000 and £15,000 concessionary rates relief may be available, subject to eligibility.
We recommend interested parties make their own enquiries direct with the local rating authority, to confirm their liabilities in this regard.

BUILDINGS INSURANCE
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenant.
The approx. cost for the current year is £475 plus VAT.

ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised that the premises fall within class E (110) of the energy performance assessment scale. A full copy of the EPC assessment is available upon request.

VAT
We are advised that VAT will be applicable. All rents and prices are exclusive of VAT under the Finance Act 1989.

LEGAL COSTS
Prior to the instruction of solicitors, the tenant will be required to pay a non-refundable administration fee of £750 plus VAT.
Each party will otherwise bear their own legal costs involved with this transaction.

VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE LETTING AGENTS:
Fenn Wright
T:
E:


Location

The property is located on King Edward Quay, close to Whitehall Industrial Estate, approximately three miles to the East of Colchester City Centre. Good access is available to the inner ring road system which links directly to the A12 / A120, providing easy access to the East Coast ports of Harwich and Felixstowe and Stansted Airport .