A four storey plus basement grade II listed commercial building of 18th-century origin located in the heart of Colchester city centre on the corner of High Street and North Hill considered to suit a variety of uses with potential annual rental income of around £50,000

Also known as Cornhill House is this large commercial premises that comprises of a double fronted ground floor shop/retail office with basement storage and facilities which currently used as an estate agents but is due to be vacant from 7th January 2027. The ground floor is accessed from the High street with large shop windows either side of the main entrance and a third shop window facing onto North hill. There are three storeys above that are independently accessed from an entrance on North Hill that have previously been let as a beauty salon and hairdressing college. It is considered that these floors could offer potential for conversion into residential apartments subject to planning and all other relevant permissions. It is also considered that the upper floors could be split into individual offices with shared access and that the ground floor premises could also be separated into two units as it previously has been or that the property has a whole could be put back to single unit creating four/five storey commercial building for either retail or a variety of other uses subject to planning and all other relevant permissions. The current rental income for the ground floor accommodation is just under £39,000 and the upper floors when previously let were generating an income of £12,000 per annum. The combined income previously generated represents a yield of 12.7% of the guide price.

Tenure

Freehold

Ground Floor Shop/Office

Ground floor retail zone A- 248 square foot (23 Square meters) Ground floor retail zone B- 81 square meters (7.5 Square meters) including staff kitchen. Basement- 166 square foot (15.4 square meters) including ladies and gents facilities.

Upper Floors

Total floor area approximately 3250 square feet (302 square meters) including entrance with stairs leading one small office and two large office suites on the 1st floor, a further two large office suites on the 2nd floor and two further rooms accessed from independent landing on the top floor.

Business Rates

Ground Floor 158 High Street: current rateable value (1 April 2026 to present) £13,000 First Floor 158 High Street: current rateable value (1 April 2026 to present) £10,250

Valued Added Tax

Please note VAT is applicable on this lot

Energy Efficiency Rating (EPC)

Current Rating 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

Solicitors

Ellisons Solicitors (Colchester), Ref: Philip Roberts, Tel: 01206 719642

Additional Fees

Buyer's Premium - £1200 inc VAT payable on exchange of contracts.

Administration Charge - £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.