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101-104 High St 1,116 SF Retail Condo Unit Offered at $531,915 in Colchester CO1 1TH
PROPERTY FACTS
| Total Building Size | 4,309 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 719 SF |
| Property Subtype | Storefront Retail/Residential | Year Built | 1964 |
| Building Class | B | Lot Size | 0.17 AC |
| Total Building Size | 4,309 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 719 SF |
| Year Built | 1964 |
| Lot Size | 0.17 AC |
AMENITIES
- Storage Space
- Air Conditioning
1 UNIT AVAILABLE
Unit 103/104
| Unit Size | 1,116 SF | Sale Type | Investment |
| Price | $531,915 | Tenure | Long Leasehold |
| Price Per SF | $476.63 | Cap Rate | 6.99% |
| Condo Use | Retail | NOI | $37,162.67 |
| Unit Size | 1,116 SF |
| Price | $531,915 |
| Price Per SF | $476.63 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 6.99% |
| NOI | $37,162.67 |
DESCRIPTION
The property comprises ground floor retail shop t/a Premier convenience store, providing the following accommodation and dimensions:
Ground Floor: 157.20 sq m (1,692 sq ft)
Open plan retail, Storage, Office, WC
Location:
Colchester is an attractive and historic market town in Essex, some 60 miles north-east of Central London. The property is located in a prominent position with frontages to High Street and Museum Street. The property is close by to Lion Walk Shopping Centre with retailers including Primark, Boots the Chemist and The Body Shop. Other nearby retailers include Santander, Sainsburys and Primark, amongst others.
SALE NOTES
Investment Consideration:
VAT is applicable to this property
Let until 2040 (no breaks)
Rent reviews linked to RPI every 5th year (uncapped)
Comprises ground floor convenience store t/a Premier
Nearby occupiers include Santander, Sainsburys and Primark, amongst others.
Tenancy:
The property is at present let to an Individual t/a Premier for a term of 20 years from 14th October 2020 at a current rent of £27,597 p.a. and the lease contains full repairing and insuring covenants. Uncapped rent reviews linked to RPI every 5th Year. No breaks. Rent deposit held of £6,899 + VAT (£1,379).
Tenure:
Long Leasehold. Held on a 999 Year lease from 24th March 2015 at a ground rent of £100 p.a.
103-104 High Street, Colchester, Essex CO1 1TH 1
103-104 High Street, Colchester, Essex CO1 1TH 2
103-104 High Street, Colchester, Essex CO1 1TH 3
103-104 High Street, Colchester, Essex CO1 1TH 4
103-104 High Street, Colchester, Essex CO1 1TH location
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Premier |
-
|
Jan 0000
|
| AS Rock Ltdl |
-
|
Jan 0000
|
NEARBY MAJOR RETAILERS
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101-104 High St
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