The retail building is a self-contained unit set over two floors, and has recently undergone sub-division and a full restoration to include electric, heating and cooling system, and new W/C facilities.
The ground floor area is open plan with large shop front windows, with stairways to the rear of the premises leading to the first floor, where there are W/C facilities and ancillary staff/storage space.
(Approximate net internal measurements)
Ground FloorApprox.305 sq ft(28.38 sq m)
First FloorApprox.106 sq ft(9.9 sq m)
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenant. The approx. cost for the current year is £TBC.
A service charge is applicable. The approx. cost for the current year £TBC.
We have been informed that the premises currently is jointly assessed with the neighbouring property (unit 6), with a combined rateable value of £18,250.
New tenants will be required to contact the Colchester Borough Council Business Rates department directly upon occupation in order to have the units individually assessed, and to confirm their liabilities.
For rateable values below £12,000, 100% rate relief may be available, subject to eligibility. We recommend all parties make their own direct enquiries with the local rating authority.
Energy Performance Certificate (EPC)
We have been advised that both units fall within class D (85) of the energy performance assessment scale.
A full copy of the EPC assessment and recommendation report is available from our office upon request.
The premises is available to let on a new internal repairing and insuring lease, for a minimum 3 year term, at a commencing rent of £15,000 per annum.
We have been advised that the property is not elected to VAT, however the landlord reserves the right to elect the property to VAT at any time.
Each party will bear their own legal costs.
Strictly by appointment via sole agents:
01206 85 45 45
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