184 Magdalen Street, Colchester, Essex, CO1

The property is arranged over four floors with lower ground, ground and two upper floors. The building currently provides retail and ancillary space at ground floor, storage and workshop space at lower ground floor, and residential use for the upper two floors.

The property also benefits from a generous external yard area, with four garages and additional parking.

Utilities
The split level residential element benefits from its own metered electricity and gas supply. The split level commercial element, GF & Lower GF, has its own metered electricity supply. A single water supply and meter serves the entire premises.

Accommodation
Approximate Gross Internal Area:
Total 4,689 sq. ft (435.6 sq. m)

Note: the floor plan above is provided for indicative purposes only, and is not to scale and not to be relied upon.

Energy Performance Certificate (EPC)
We have been advised that the premises fall within class E (110) of the energy performance assessment scale.

A full copy of the EPC assessment and recommendation report is available from our office upon request.

Business Rates / Council Tax
We are advised that the commercial elements are assessed with the following rateable values, effective 1st April 2023:

Ground Floor Retail £6,700
Basement & First Floor £9,800

The residential elements fall within Council Tax Band B.

Interested parties are advised to make their own enquiries with the local rating authority to confirm their liabilities.

Terms
Unconditional offers are requested for the freehold interest with vacant possession, at a guide price of £475,000.

VAT
We are advised that the property is not VAT registered, and VAT will not be charged on the purchase price.

Viewings
The property is available to inspect by prior appointment only on dates to be confirmed between 27th March and 18th April 2023.

Please contact sole agents Fenn Wright to book your appointment.

Offer Process
Offers should be in writing (via post or email), and should clearly identify the offer amount, the buyer, and the funding method.

Prospective purchasers should also confirm proposed use post purchase, and advise whether their offer is subject to receipt of a planning consent for alternative use or extension of the property, prior to exchange of contracts.

Legal Costs
Each party will bear their own legal costs.

Anti-Money Laundering Regulations
Anti-Money Laundering Regulations require Fenn Wright to formally verify prospective purchaser's identity, residence and source of funds prior to instructing solicitors.

Note
There is a longstanding undocumented right of way across the rear of the site and along the driveway onto Magdalen Street. This right benefits the freeholder of 182 Magdalen Street and is not intended to be regularized as part of the freehold sale.

Viewings Strictly By Appointment Via Sole Agents:

Fenn Wright
01206 85 45 45
colchestercommercial@fennwright.co.uk