COVID-19 – Important Auction Information
For Sale By Auction | 11:00, 05 May 2021 | Lot 18

Headgate House, 6-10 Headgate Corner, Colchester, Essex, CO3 3BY

Sold £435,500

  • Office
  • Tenure: Freehold

Call the team on 01473 558 888 for more information

Auction Date

Wed 05/05/2021

Auction Time

11:00

Auction Venue

Livestream Auction

A substantial five storey commercial investment

Standing in a prominent position in a Conservation Area on the corner of Headgate, St John{squote}s Street and Crouch Street is this substantial commercial building extending to 3,882 sq ft (360.7 sq m), configured over 5 floors and currently fully let in 4 parts. The double fronted ground floor provides predominately open plan office space whilst on the lower ground floor there is a training room and w.c. facilities. The first, second and third floors are independently accessed and provide further office accommodation each with their own w.c. facilities. The Tenancy Schedule is as follows: Ground & Lower Ground Floors - Countrywide Estate Agents Lease term: 25-11-11 to 23-06-21 Rent: £17,500 per annum First Floor - R K Legal Recruitment Ltd Lease term: 08-06-15 to 07-06-20 Rent: £4,530 per annum Second Floor - Kew Law LLP Lease term: 04-09-19 to 03-09-24 Rent £5,200 per annum Third Floor - Topard Griffin Ltd Lease Term: 27-09-19 to 26-09-24 Rent £4,000 per annum Each leaseholder pays a proportion of the Service Charge and Insurance. Combined Annual Yield: £31,230 plus Service Charge With a gross return of over 10% based on the low Guide Price we believe this to be a solid investment opportunity not to be missed.

Tenure

Freehold

Energy Efficiency Rating (EPC)

Current Rating D, E

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. Tel: 01206 282222

Solicitors

Hunters Law LLP, 9 New Square, London, WC2A 3QN, Ref: Jessica Harris, Tel: 020 7412 5175

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 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.