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.

Tenure

Freehold

Energy Efficiency Rating (EPC)

Current Rating Please refer to legal pack

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Colchester Borough Council

Solicitors

Martin Shepherd Solicitors, Ref: Daniel Raja, Tel: 0208 446 4301

Additional Fees

Buyer's 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.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.