Auction Property 8000 sqft  Development Property 

High Street, Colchester

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Features

  • Auction Date: 23rd – 24th October 2019
  • Guide Price: £400,000+
  • Ex Conservative Club
  • Circa 8,000sq ft (730m2)
  • Re-development Opportunity (STP)
  • Functions Spaces on Multiple Floors
  • High Street Location
  • Close to Colchesters Historical Landmarks
  • Freehold

Address

Former Conservative Club, 107 High StreetColchesterEssexCO1 1TH
Details
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Property Details

Ex Conservative Club
Circa 8,000sq ft (730m2)
Re-development Opportunity (STP)
Functions Spaces on Multiple Floors
High Street Location
Close to Colchesters Historical Landmarks
Freehold

A rare opportunity to purchase the former Conservative and Unionist Club on the High Street in Colchester that offers investors an opportunity to re develop a substantial building right in the heart of the town centre.

The property is situated over 3 floors and currently comprises a ground floor with a snooker room, two bars and kitchen space. The first floor has a further two function rooms with a shared bar, offices as well as a further dining/lounge space overlooking the High Street. The top floor is given to a number of offices as well as a two bedroom flat. There is a basement which can be used for storage and bar services.

The property is Located on a busy part pedestrianised High Street with good links across town and back to the local rail station. Nearby occupiers include Marks and Spencer, McDonalds and Santander. The building is also just a short walk to the towns historical castle and grounds.
The property offers a great amount of re-development potential (subject to planning consents)

Services

We understand the property to have mains electricity, gas, water and drainage. Interested parties should conduct their own investigations.

Tenure And Tenancies

Current rental income of £8,000PA until 2024 for the GF retail unit on the high street.
Restaurant at the rear of the property sold on a 999 year lease with a peppercorn rent.
Freehold

Development Potential

The property would suit an investor looking to create a mixed-use site with commercial units on the ground floor and residential units on the upper floors (STP).

Accomodation

Ground Floor - 299.22 m2 (3,220 ft2)
1st Floor – 209.49 m2 (2,254 ft2)
2nd Floor – 93.83 m2 (1,009 ft2)
2nd Floor Flat - 72.88 m2 (784 ft2)
Basement – 52 m2 (559 ft2)
GF Retail Unit – 35.7 m2 (384 ft2)
Total – 763.12 m2 (8,210 ft2)

VAT

Non-Applicable

Guide Price

£400,000+

Buyers Premium

2% (min. £3,600) inc. VAT

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