Property photos
Sold STC
Auction
Freehold
Guide price
£120,000
Restaurant for sale
9 St. Botolphs Street, Colchester, Essex CO2Local area information
Property location
Nearby amenities
- Colchester Town 0.1 miles
- St John's Green Primary School 0.2 miles
- St Thomas More's Catholic Primary School, Colchester 0.2 miles
- Colchester 1 mile
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Colchester to find out more about the local area.
Features and description
- Freehold
For sale by auction on Wednesday, 11 Dec 2024 at 11:00
Venue: Livestream Auction
A high yielding commercial investment
Situated in a busy retail area in the heart of the city is this Freehold commercial investment providing an excellent annual income.
The property on the ground floor comprises a restaurant/takeaway with 24 covers, a kitchen/prep area, storage room, WC and refrigeration room, on the first and second floor are 5 ancillary rooms and a shower room.
The property is held on a 15 year lease from March 2018 at a current rent of £14,000 per annum, reviews are every 3 years with the next due in 2027.
With an annual return of over 11.5% based on the low Guide Price, this is without doubt a first class opportunity.
EPC Rating: Please refer to legal pack
Additional Fees
Buyers Premium: £1140 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Venue: Livestream Auction
A high yielding commercial investment
Situated in a busy retail area in the heart of the city is this Freehold commercial investment providing an excellent annual income.
The property on the ground floor comprises a restaurant/takeaway with 24 covers, a kitchen/prep area, storage room, WC and refrigeration room, on the first and second floor are 5 ancillary rooms and a shower room.
The property is held on a 15 year lease from March 2018 at a current rent of £14,000 per annum, reviews are every 3 years with the next due in 2027.
With an annual return of over 11.5% based on the low Guide Price, this is without doubt a first class opportunity.
EPC Rating: Please refer to legal pack
Additional Fees
Buyers Premium: £1140 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Floor plans and tours
Floor plans (1)
More information
Listed by
Auction House East Anglia
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