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For Sale: £450,000

Sold

East Bridge House, 4 East Street, Colchester, Essex, CO1

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  • Area

    area
    1907Sq Ft

Location
East Bridge House is prominently located on East Street, a main feeder road into Colchester Town Centre with easy access to the inner ring road system, car parks and Town Centre facilities and amenities.

Colchester Mainline Railway Station is just 2 miles distant with journey times to London Liverpool Street approx. 55 minutes. Stansted Airport and the East Coast ports of Harwich and Felixstowe are easily accessible via the A12 / A120.

Description
The premises comprises an unlisted semi-detached Victorian villa, former public house, of brick construction beneath a pitched slated covered roof.

An impressive reception leads to four separate ground floor offices, kitchenette, and accessible WC facilities. On the first floor there are a further three offices and on the second floor there is a large open plan office, with storage space, tea point and WC.

Externally there are four parking spaces to the front (2x tandem spaces) and a further four parking spaces to the rear.

Accommodation
(Approximate net internal measurements)
Ground Flr Approx. 696 sq ft 64.7 sq m
First Flr Approx. 865 sq ft 80.4 sq m
Second Flr Approx. 346 sq ft 32.1 sq m
Total Approx. 1,907 sq ft 177.2 sq m

Terms
The premises are to be sold freehold at £450,000. (no VAT)

Title Number: EX651037.

Tenancy Details
The premises are currently being run as a serviced office centre - The Active Workplace.

There are seven offices, six of which are currently let to multiple occupiers on an all inclusive licence agreement (excluding IT & car parking which are available at an additional cost).

The current net rental income being received is approx. £28,000 per annum. At full occupancy we would expect this to increase to approx. £32,500 per annum

Due to the nature of the licence agreement two months notice to terminate may be given by either party ant any time.

Further information is available upon request.

Business Rates
We have been informed that the combined rateable value for all of the suites is £13,950. Interested parties are advised to make their own enquiries with the local rating authority to confirm their liabilities.

Energy Performance Certificate (EPC)
A full copy of the EPC assessment and recommendation report will shortly be available from our office upon request.

VAT
All rents and prices are exclusive of VAT under the Finance Act 1989. Interested parties are advised to consult their professional advisors as to their liabilities, if any, in this direction.

We are advised that the premises are not registered for VAT.

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 identify, residence and source of funds prior to instructing solicitors.

Viewing
Strictly by appointment via sole agents:
Fenn Wright

Features

  • Well Presented Freehold Town Centre Office Investment
  • Very Well Presented Office Building
  • Eight On Site Car Parking Spaces
  • Busy Main Road Prominence
  • Easy A12 / A120, & Town Centre, Access
  • Currently Producing Approx. £28,000 pa Net Income

Map

Call

Michael Moody

01206 854545
Make an enquiry

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