100 High Street, Colchester, Essex, CO1 1TH

LOCATION
Colchester, on the River Colne, has a population of approximately 200,000, and is a major commercial, retail and administrative centre, located approx. 53 miles north-east of Central London and is home to the University of Essex. The town is serviced by the A12 trunk road, which provides a dual carriageway links to the M25 Motorway and via the A14 dual carriageway to Ipswich and the Port of Felixstowe. There is a rail service to London (Liverpool Street) with journey times of approximately 55 minutes.

The property is situated in a hospitality hot spot within the city centre, positioned on the east side of the High Street, close to the junction with East Hill and Queens Street and close to the pedestrian entrance to Colchester Castle and Castle Park. Opposite the property is St Nicholas square, a recently redeveloped public square in the centre of Colchester. The square serves as a flexible community space for outdoor events, markets and outdoor café and restaurant seating.

The property is part of a parade of restaurants including Yak & Yeti, MIRRA and Maharani. Other notable nearby occupiers include Bang & Olufsen Electronics, British Heart Foundation, The George Hotel, Saxons Estate Agents and Three Wise Monkeys Bar & Restaurant.

DESCRIPTION
100 High Street comprises a self-contained mid-terrace retail unit arranged over the ground and first floors, extending to approximately 1,550 sq. ft Net Internal Area (NIA). In addition, there is a second floor which is suitable for storage purposes.

The property benefits from a fully glazed shopfront at ground-floor level and offers excellent branding opportunities, with prominent signage capable of being displayed on the building's façade. Internally, the ground floor provides open-plan retail accommodation, while the upper floors offer additional retail or storage space, together with staff welfare facilities including a kitchenette and W/C.

The existing layout is ideally suited to retail use; however, alternative uses may be considered, subject to the necessary planning consents and the landlord's approval.

The property has also recently undergone internal and external refurbishment works, resulting in a well-presented unit that is ready for immediate occupation.

ACCOMMODATION
Accommodation (approximate)

ITZA - 596 sq. ft.
NIA - 1,550 sq. ft.

TERMS
The property is available To Let by way of a new Lease for a term of years to be agreed, incorporating periodic upward only rent reviews, at an asking rent of £20,000 per annum exclusive.

A tenant will also be required to provide a deposit and a personal guarantor.

OUTGOINGS
The property has a rateable value of £14,000. As the property has a rateable less than £15,000, occupiers may be able to benefit from partial small business rate relief.

Interested parties are advised to make their own enquiries with the Colchester Council Rates Department.

VAT
All rents and prices are exclusive of VAT under the Finance Act 1989.

LEGAL COSTS
Each party is to be responsible for their own legal fees in relation to any transaction.

OTHER
ENERGY PERFORMANCE CERTIFICATE

The property has an EPC rating of E - 106. A copy of the certificate is available on the GOV.UK Non-Domestic Energy Performance Certificate Register.

ANTI-MONEY LAUNDERING REGULATIONS

Anti-Money Laundering Regulations require Nicholas Percival to formally verify prospective tenant´s identity, residence and source of funds prior to instructing solicitors.

ADMINISTRATIVE FEE

Upon agreement of Heads of Terms and prior to solicitors being instructed, the prospective tenant will be required to pay Nicholas Percival Ltd an administration fee of £250 + VAT to cover referencing and all associated costs.

REF: C4113

VIEWING
Strictly by prior appointment with the sole agents, Nicholas Percival Chartered Surveyors. FAO Max Copeland