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98, 99 & 99a and 6 Old Market Place

Offers in Region of
£995,000

Business rates & charges may apply

Nicholas Percival Commercial, Colchester
SIZE

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SECTOR

High street retail property for sale

Description

LOCATION
The property stands on the corner of North Street and Old Market Place in the heart of the town centre. This section of North Street is regarded as the prime retail pitch in the town and nearby occupiers include The Works, Vodafone, Iceland, Peacocks, Waterstones/TG Jones. The town centre car parks, bus and railway stations are all within a 5 minute walk. Sudbury is a thriving market town situated on the Essex/Suffolk border about 12 miles south of Bury St Edmunds and 14 miles from Colchester. The M11 and Stansted Airport are within a 40 minute drive.

DESCRIPTION
98/99 North Street is a purpose-built unit constructed in the early 1970´s of cavity brick/blockwork under a predominantly pitched tiled roof. It is arranged as two retail units on the ground and part of the first floor with the remainder of the upper floor being a suite of self-contained offices with access from Old Market Place. Although modern, the building is Listed Grade II. There is parking behind 99 North Street with space for two cars.
6/6a Old Market Place is also Listed and has traded for the past 20 years as Pizza Town. The original building has plastered elevations under a peg-tiled roof with the later extensions being cavity build with a flat roof covering.




ACCOMMODATION
98 NORTH ST
Ground Floor Net Sales 780 sq ft
First Floor 727 sq ft
Tenant: Suffolk Building Society
Rent £23,000 pax 10 year lease from October 2023
Tenant option to break 2028

99 NORTH ST
Ground Floor Net Sales 1140 sq ft
Tenant: Entain Ltd t/a Corals
Rent £23,000 pax 10 year lease from August 2023
Tenant option to break 2028

99a NORTH ST
First Floor Offices 1,100 sq ft
Tenant: Holmes & Hills LLP Solicitors
Rent £12,750 pax 10 year lease from October 2023
Tenant option to break 2028

6/6a OLD MARKET PLACE
Restaurant/Sales 860 sq ft
Kitchen 227 sq ft
First Floor 437 sq ft
Tenant: 10 year lease agreed to an individual
Rent: £23,000 pax subject to contract
The lease will be excluded from s24 - 28 of the Landlord & Tenant Act 1954

SERVICES
All main services are connected

TERMS
Offers invited in the region of £995,000 plus VAT for the freehold interest, subject to contract. It is envisaged that the sale will be by way of a Transfer of a Going concern (TOGC).

OUTGOINGS
98 North Street
Rateable Value £21,750

99 North Street
Rateable Value £30,500

99a North Street
Rateable value £12,750

6/6a Old Market Place
Rateable Value £17,750

VAT
The premises is elected for VAT

PARKING NOTES
There are two parking spaces to the rear of 98/99 North Street

VIEWING
Strictly by confirmed prior appointment with Birchall Steel a division of Nicholas Percival
Gordon.

Energy Performance Certificates

EPC Front Page

98, 99 & 99a and 6 Old Market Place

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Sudbury Station0.3 miles
  • Bures Station5.0 miles

About Nicholas Percival Commercial, Colchester

Beacon End Farmhouse London Road, Stanway, Colchester, CO3 0NQ

Nicholas Percival are well-established Estate Agents and Chartered Surveyors with over 25 years of experience selling the finest village, town and country houses in North Essex and South Suffolk

The Commercial Property Division specialises in all aspects of Sales, Lettings and Professional Advice to both Landlords & Tenants Nicholas Percival Chartered Surveyors has an established reputation for professional excellence and integrity and is regarded as one of the leading independent practices in North Essex

Commercial rent reviews and lease renewals are an opportunity for both owners and occupiers to recast their agreement in a more commercial form; they are not just a re-negotiation of the level of rent. Whether you are the landlord or tenant, when it is time for a rent review or lease renewal it is important to avail yourself with the best representation and accurate advice from a specialist commercial chartered surveyor such as those at Nicholas Percival

Nicholas Percival's Commercial Property Management division have been helping companies and individuals manage their commercial property in Essex for over 29 years.

Our specialist team are based in Colchester and have a depth of local knowledge and expertise that enables them to ensure that client's properties are successfully managed, and as a matter of course provide advice on long term strategic changes, in order to create added value and asset enhancement.

Nicholas Percival assumes full responsibility for the day to day management of your property portfolio. We will be in touch with you throughout the year and will meet you at least once a year to provide a full review of the property portfolio performance. However, our goal is to provide exactly the service you need and we are happy to tailor this approach to suit you. We understand that every company and individual have different needs and will work with you to find the right level of communication and involvement that suits you. In addition, you can rely on our team to help and advise you as and when it is required.

Our Management service covers all aspects of property management:

• Rent collection

• Accounting to the client on a monthly or quarterly basis

• Service charge collection

• Budgeting and collection service charge accounts

• Arranging buildings insurance

• Organising contracts with maintenance suppliers such as cleaners, gardeners etc.

• Health and Safety issues

• Landlord and tenant Statutory obligations

• Site visits and inspections

• Negotiating Rent Reviews & Lease Renewals

Nicholas Percival act as the principal liaison between the Landlord and Tenant at all times. All of our Management services are dealt with in accordance with the terms of the leases and any current relevant legislation and codes of practice.

In addition to our core landlord and tenant, building surveying and valuation services, we provide a variety of additional services, including:

• Independent purchase reports

• Strategy advice and reports

• Redevelopment/conversion appraisals

Notes

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Disclaimer - Property reference 101551004250. 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 Nicholas Percival Commercial, Colchester. 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.