Request a Valuation
For Sale: £185,000
To Let: £12,000 pa
2-3, Eld Lane, Colchester, Essex, CO1 1LS
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Area
965Sq Ft
The property comprises a mid terraced period property arranged over ground, first and second floors. Originally two separate units, the property has been internally linked to provide a good sized sales area with WC facilities and upper floor storage.
The shop benefits from a double shop front providing good levels of natural light, spotlights and part suspended ceilings.
The unit may be suitable for a variety of retail / business uses (S.T.P)
LOCATION
The unit is prominently situated on Eld Lane, a particularly popular pedestrianised throughfare into the retail centre abutting one of Colchester's principal retail developments the 'Culver Square Shopping Centre', which boasts many multiples including Boots, Primark and H&M.
All major facilities and amenities are within close proximity including car parking, shopping, restaurants and public transport. Colchester's Town Station (London Liverpool Street approx. 50 minutes) is within walking distance.
ACCOMMODATION
[Approximate Net Internal Floor Areas]
Ground Floor Retail Area: 438 sq ft [40.7 sq m] approx.
First Floor Stores: 373 sq ft [34.6 sq m] approx.
Second Floor Store: 154 sq ft [14.3 sq m] approx.
Total: 965 sq ft [89.6 sq m] approx.
TERMS
The premises are available to let on a new effective full repairing and insuring lease, with a minimum lease length of 3 years and terms to be agreed, at a rent of £12,000 per annum. (no VAT)
Alternatively the freehold is available with vacant possession for £185,000. (no VAT)
BUSINESS RATES
We are advised that the premises have a rateable value, with effect from the 1st April 2023, of £16,000. Therefore estimated rates payable of approximately £7,985 for the current year.
Interested parties are advised to make their own enquiries.
BUILDINGS INSURANCE
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenant. For the current year the approx. cost is £TBC.
Tenants are responsible for their own contents and other liability insurances (including the shop front, windows and glazing).
ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised that the premises fall within class C (66) of the energy performance assessment scale.
A full copy of the EPC assessment is available upon request.
VAT
We have been advised that the property is not elected to VAT. However, the landlord reserves the right to elect the property to VAT at any time.
DEPOSIT
Dependant upon covenant strength, a rental deposit equivalent to two quarters rent (£6,000) will be required by the landlord and held under deed for the duration of the lease.
LEGAL COSTS
Each party will bear their own legal costs.
VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE LETTING AGENTS:
Fenn Wright
T: 01206 854545
E: [email protected]
Features
- Available For Sale Freehold Or To Let On A New Lease
- Ground Floor Retail Area With First And Second Floor Storage
- Charming Period Property
- Suitable for various uses (S.T.P)
- Popular city centre retail area
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2-3, Eld Lane, Colchester, Essex, CO1 1LS
The property comprises a mid terraced period property arranged over ground, first and second floors. Originally two separate units, the property has been internally linked to provide a good sized sales area with WC facilities and upper floor storage.
The shop benefits from a double shop front providing good levels of natural light, spotlights and part suspended ceilings.
The unit may be suitable for a variety of retail / business uses (S.T.P)
LOCATION
The unit is prominently situated on Eld Lane, a particularly popular pedestrianised throughfare into the retail centre abutting one of Colchester's principal retail developments the 'Culver Square Shopping Centre', which boasts many multiples including Boots, Primark and H&M.
All major facilities and amenities are within close proximity including car parking, shopping, restaurants and public transport. Colchester's Town Station (London Liverpool Street approx. 50 minutes) is within walking distance.
ACCOMMODATION
[Approximate Net Internal Floor Areas]
Ground Floor Retail Area: 438 sq ft [40.7 sq m] approx.
First Floor Stores: 373 sq ft [34.6 sq m] approx.
Second Floor Store: 154 sq ft [14.3 sq m] approx.
Total: 965 sq ft [89.6 sq m] approx.
TERMS
The premises are available to let on a new effective full repairing and insuring lease, with a minimum lease length of 3 years and terms to be agreed, at a rent of £12,000 per annum. (no VAT)
Alternatively the freehold is available with vacant possession for £185,000. (no VAT)
BUSINESS RATES
We are advised that the premises have a rateable value, with effect from the 1st April 2023, of £16,000. Therefore estimated rates payable of approximately £7,985 for the current year.
Interested parties are advised to make their own enquiries.
BUILDINGS INSURANCE
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenant. For the current year the approx. cost is £TBC.
Tenants are responsible for their own contents and other liability insurances (including the shop front, windows and glazing).
ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised that the premises fall within class C (66) of the energy performance assessment scale.
A full copy of the EPC assessment is available upon request.
VAT
We have been advised that the property is not elected to VAT. However, the landlord reserves the right to elect the property to VAT at any time.
DEPOSIT
Dependant upon covenant strength, a rental deposit equivalent to two quarters rent (£6,000) will be required by the landlord and held under deed for the duration of the lease.
LEGAL COSTS
Each party will bear their own legal costs.
VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE LETTING AGENTS:
Fenn Wright
T: 01206 854545
E: [email protected]