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Get brand editions for Harris + Wood, Colchester

High Street, Colchester, Essex, CO1

PROPERTY TYPE

Detached

BEDROOMS

6

BATHROOMS

6

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Floorplan 1Floorplan 2
8

Key features

  • Freehold mixed-use investment opportunity in Colchester city centre
  • 11.31% gross yield
  • Comprising four residential flats and three established commercial units
  • Fully let with all properties on separate leases and individual tenancies in place
  • Producing a total annual rental income of approximately £124,441 per annum
  • Commercial tenants include a bar, wedding boutique and comic store
  • Residential accommodation includes two one-bedroom flats and two two-bedroom flats, including one duplex apartment
  • Prime High Street & Culver Street position within the heart of Colchester city centre
  • Excellent long-term investment with multiple income streams and strong tenant diversification
  • Being sold via ‘Secure Sale’

Description

** Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £990,000. **

An exceptional opportunity to acquire a substantial freehold mixed-use investment portfolio positioned in the heart of Colchester city centre, comprising four residential flats and three fully let commercial units across the prominent High Street and Culver Street East locations. Producing a combined annual rental income of approximately £124,441 per annum, the portfolio offers an attractive gross yield of approximately 11.31% based on the guide price.

The commercial element consists of three established businesses currently occupied by a bar, wedding boutique and comic store, all held on separate leases with established tenancies in place. The residential accommodation comprises two one-bedroom apartments situated on Culver Street East alongside two apartments on the High Street, including a spacious duplex apartment. All units are separately let and income producing, creating a well-diversified investment with multiple revenue streams.

Situated within the centre of Colchester, the properties benefit from excellent footfall, strong local amenities, nearby transport links and continued demand for both residential and commercial accommodation. The location places the investment within easy reach of Culver Square Shopping Centre, restaurants, bars, retail operators and Colchester Town Station.

This is a rare opportunity for investors seeking a high-yielding, fully tenanted freehold asset within a prime and historic city centre position, offering immediate income from day one with future asset management and rental growth potential.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’. These prices are subject to change.

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
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ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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High Street, Colchester, Essex, CO1

Approximate location
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Affordability

Monthly repayments£4,965
Property: £ 990,000
Deposit: £ 99,000
Interest rate: 5.33%
Term: 30 years
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About Harris + Wood, Colchester

25 Sir Isaacs Walk, Colchester, CO1 1JJ
Industry affiliations:

Harris + Wood exists for one clear purpose: to achieve the very best price for your home through world-class marketing and exceptional customer service. We offer a highly considered, professional approach to selling and letting property, combining intelligent marketing, deep local knowledge and meticulous attention to detail. Every instruction is treated with care, discretion and a clear focus on delivering outstanding results. Central to our success is our use of cutting-edge technology and data-driven insight.

Before your home is launched to the portals, we gather first-hand, pre-market feedback from active buyers to fine-tune your pricing strategy, presentation and overall market positioning. This ensures your property is launched in the strongest possible way, guided by real buyer response rather than guesswork or simply “hoping for the best”.

Our team operates by four core principles: Hunger, Helpfulness, Humility and Honour. These values define how we work, how we communicate and how we represent your home. They ensure that every interaction, from first meeting to final completion, is handled with professionalism, integrity and care.

If you are looking for a property expert who values quality, strategy and results, Harris + Wood offers a level of service designed to exceed expectations and deliver the outcome your home deserves.

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Notes

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Staying secure when looking for property

Ensure you're up to date with our latest advice on how to avoid fraud or scams when looking for property online.

Visit our security centre to find out more

Disclaimer - Property reference HRR_CLC_LFSYCL_1008_1179510254. 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 Harris + Wood, 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.

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 Harris + Wood, Colchester on 01206 586125.

*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.”

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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