A long leasehold retail premises with underlease producing a high yield

Situated in a densely populated residential area of Hythe some 2 miles to the east of Colchester town centre is this retail premises extending to around 480 sq ft together with an allocated parking space. The property is held on a 150 year lease from 2006 and is being sold subject to a 20 year Underlease which expires in 2026 at a rent of £12,000 PA with no break clauses. The property has been divided internally to accommodate a hot food takeaway and a convenience store which share facilities and with the annual rental income equating to over 17% of the low Guide, we believe this to be a first class investment opportunity.

Tenure

Leasehold. 150 years from 2006

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

Buckles, Grant House, 101 Bourges Boulevard, Peterborough, PE1 1NG, Ref: James Munn, Tel: 01733 888888

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £900 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.