37 North Hill

Key Points

• Separate ground floor retail unit and first floor residential accommodation
• Located in thriving Colchester city centre - close to shops, bars, restaurants and recreational facilities
• Three storey Grade II listed building with many character features
• Available on a new lease of the whole (may consider letting separately)
• Small business rates relief should apply

Description

The property comprises an attractive Grade II listed three storey building, including ground floor sales area, basement and upper parts which have been used as a residential accommodation.

The sales area benefits from glazed frontage, hard wood flooring and many period features. To the first floor is a kitchen, lounge / bedroom, bathroom, and further bedroom to the 2nd floor.

The residential accommodation and can be accessed from the rear of the building independently from the the main shop area although there is currently an interlinked door between the shop and rear residential accommodation.

Location

The property is located on North Hill, in the historic city centre of Colchester. The property is located approximately 0.2 miles from High Street, which is home to a thriving city centre with a wide variety of shops, bars, restaurants and leisure & recreational facilities. Colchester Castle Park is located approximately 0.4 miles away.

Colchester is located in north Essex with access to the A1234 and A1124, with regular train services to London from the nearby Colchester Town Railway Station.

Notable occupiers on North Hill include the Marquis Public House, Piccolo Italian Restaurant, Alfie Allen Male Image & Grooming, Gemstone Mortgages, Middletons Steakhouse & Grill, Twisters Bar, and many others.

Rateable Value

We understand the property would need to be re-accessed for rates purposes. The property should qualify for Small Business Rate Relief. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes.

Lease Terms / Rent

The property is available to let by way of a new lease on the following two potential options:

Option 1 – The whole property on a 5 year lease for £13,500pa.
Option 2 – The ground floor lock up shop on a 5 year lease for £7,500pa, subject to a service charge for insurance and external / common repairs.

If let under option 2 the landlord will infill the interconnecting door and move the first floor kitchen into the lounge and market the upper parts separately under an AST letting.

Please note, no VAT is payable on the rent.

Rent Deposit

The landlord will seek a rent deposit to be held over the terms of the lease.

Identity Checks

In order to comply with Anti-Money Laundering Legislation, the successful tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful tenant.

Available Area