Commerce Way Grange Way Industrial Estate, Colchester, CO2 8HH
Size
1,216,630.8
Tenure
Freehold
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- Primary use
- Other
No floor / site plan
Key features
- • The property occupies a highly prominent and accessible position within Colchester's principal industrial and trade distribution area.
- • The properties comprise a substantial industrial estate extending to 27.93 acres (11.30 hectares).
- • 30 sites let to 26 different tenants, providing a diversified income stream with an attractive WAULT of 64 years.
- • Current contracted rent of £206,399.27 per annum, reflecting a very low average rent of £0.17 per sq ft and £7,389.61 per acre
- • Industrial land in Colchester has a value in excess of £500,000 per acre, underpinning the long term underlying land value of the portfolio.
- • Ongoing outstanding rent review negotiations with 9 leaseholders, offering the opportunity to capture immediate reversionary growth on proven rental evidence.
- • If these rent reviews are settled at their quoted rents, the passing rent of the estate increases to £302,224 per annum.
- • Recent reviews have settled at £0.58 per sq ft, establishing a new rental tone across the estate and providing strong evidence to support future rental growth at the 24 future rent reviews.
- • Freehold.
Description
The estate comprises predominantly industrial properties arranged across 30 individual plots, extending to approximately 27.93 acres (11.30 hectares) or 1,216,674 sq ft.
The site comprises an irregular shape, tapering to a point at its southern extent. The majority of the estate is situated to the south of Whitehall Road, with two additional plots located to the north.
The property provides 30 sites upon which are located a mixture of industrial and trade occupiers, with buildings varying in size and specification. The majority of the accommodation comprises older stock, with some buildings dating from the 1970s, reflecting the estate’s established nature.
Detailed descriptions of each parcel and the respective accommodation are provided within the individual plot sections of these marketing particulars.
Location
The property lies approximately 1 mile southeast of Colchester town centre and is situated within the Whitehall Industrial Estate.
The ownership is split between Whitehall Road, Commerce Way, and Grange Way, occupying a highly visible and accessible location within the town’s principal industrial and trade distribution area, forming part of the long established Hythe commercial district.
The site’s location benefits from excellent connectivity, with direct access to the inner ring road system providing efficient links to the A12 and A120. These routes offer connections to the M25, Stansted Airport, and the east coast ports of Harwich and Felixstowe.
The immediate surrounding area comprises a commercial cluster of predominantly industrial, trade counter, and distribution occupiers. Beyond this core industrial area, the wider locality consists of residential neighbourhoods, The University of Essex campus and national retailers such as Tesco and Home Bargains.
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Brochure
Commerce Way Grange Way Industrial Estate, Colchester, CO2 8HH
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Disclaimer - Property reference 389535-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Montagu Evans, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.