Commercial property for sale
191-193 Magdalen Street, Colchester, Essex, CO1 2JX
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- Freehold
Description
COMMERCIAL INVESTMENT: A FREEHOLD INVESTMENT IN CITY CENTRE PRODUCING AN ANNUAL INCOME OF £88,800 PER ANNUM. A YIELD OF 9.3% OF THE GUIDE PRICE
A Freehold commercial site comprising of five commercial premises and an advertising facility. The property is fully let and producing an income of £7400 per month. (£88,800 per annum). It is considered that as well as returning a high investment yield the site could offer potential for future re-development subject to obtaining all relevant permissions.
The Overall plot measures approximately 0.3 Acres and it is considered that it may provide a future opportunity for redevelopment subject to obtaining all relevant permissions.
Unit 1-Retail or shop unit- 1042 PCM
Unit 2- Tyre Shop - £1250 PCM
Unit 3 (Workshop/storage) £1250 PCM
Unit 4 (Workshop/Storage/Parking)- £2083 PCM
Office Building-£1600 PCM
Advertising board- £175 PCM
Total Per calendar month = £7,400
Total Annual Income= £88,800
Unit 1 retail or shop unit) Subject to a lease with a 5 year term from 5th March 2025 Ends 15th March 2030.
Unit 2- Tyre Shop Subject to a lease with a 7 year term from April 2025 till April 2032 Rent reviews are set in April 2026 & 2030.
Unit 3 (Workshop/storage) Subject to a lease with a 7 year term from 1st April 2025 and ending on 30th March 2032.
Unit 4 (Workshop/Storage/Parking)-Subject to a lease with a 7 year term from 15th May 2025 and ending on 13th May 2032.
Office Building- Subject to a lease with a 7 year term from 15th July 2025 Ends 1st April 2032
For all planning enquiries please contact Colchester City Council planning department on .
Unit 1-E
Units 2 & 3- C
Unit 4- D
Office building- D
Unit 1- 388 square foot (36 square meters)
Units 2 & 3 combined - 1810 square foot (168 square meters)
Workshop- 2585 square foot (240 square meters)
Office- 690 square foot (64 square meters)
Brochures
Legal DocumentsEnergy Performance Certificates
EPC 1191-193 Magdalen Street, Colchester, Essex, CO1 2JX
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Colchester Town Station0.1 miles
- Hythe Station0.9 miles
- Colchester Station1.2 miles
Notes
Disclaimer - Property reference 328411. 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 Dedman Gray Auctions, Essex. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Dedman Gray Auctions, Essex on 01702 311010.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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