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Property Image
Property Image
Property Image

For Sale: £800,000

Under Offer

71 London Road, Copford, Colchester, Essex

Property Image
Property Image
Property Image
Property Image
  • Area

    area
    4786Sq Ft

Location
The property is situated on the eastern side of London Road mid way between the Tollgate and Marks Tey A12 interchanges.

The A12 is only 3/4 of a mile to the west and provides excellent access to the M25 and national motorway network. Marks Tey railway station, which offers a mainline service to London, is approximately 1 mile to the west.

Description
The property comprises a detached purpose built two storey office building with front and rear car parking. Arranged on ground and first floor floors the offices offer substantially open plan accommodation benefiting from a front and rear access, good floor to ceiling heights and excellent levels of natural light.

Externally there is a brick paved forecourt at the front providing 4 - 6 spaces with further exclusive parking to the side and rear providing an additional 18 car parking spaces.

There is a full high definition 3D virtual tour of the premises available upon request.

Accommodation
(Approximate net internal measurements)
Ground Floor Approx. 2,499 sq ft 232 sq m
First Floor Approx. 2,287 sq ft 212 sq m
Total Approx. 4,786 sq ft 444 sq m

Energy Performance Certificate (EPC)
The property benefits from a class C (71) certification.

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

Business Rates
The property has an entry in the rating list as "offices and premises", with a rateable value of £45,750.

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

Tenancy and Covenant
The property is leased to 3D Marcomm Ltd (Company Registration No. 06603499). Incorporated in 2008, the tenant carries an Experian credit rating of 73/100 and a 'below average' risk rating. There are currently no arrears of rent and no history of rent payment problems.

The lease is granted for an 10 year term, expiring August 2028 and contains a tenant only break clause and upward only rent review with effect from 23rd August 2023.

The tenant has a full repairing obligation subject to a schedule of condition which is attached to the lease. A copy of the lease is available upon request.

The current rent is £60,000 per annum and the tenant is also liable to meet the landlords insurance costs and up to £1,000 per annum for landlords costs associated with the maintenance of the shared access road.

VAT
The property is VAT elected and VAT will be payable on the purchase price.

Terms
The freehold interest is available for £800,000 plus VAT, which will deliver a 7.5% gross initial yield.

Legal Costs
Each party will bear their own legal costs in the transaction.

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

Viewing
Strictly by appointment via sole agents:

Fenn Wright
01206 854545
fennwright.co.uk
colchestercommercial@fennwright.co.uk

Features

  • Freehold Office Investment
  • 10 Year Term Expiring 2028
  • Rent Reserved at £60,000 Per Annum
  • Established Tenant
  • Generous Car Parking Provision
  • High Profile Location
  • Easy Access A12/A120
  • EPC Rating: C-71

Map

Call

Lewis Chambers

01206 854545
Make an enquiry

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