Retail for Rent
Headgate, Colchester, CO3Let/Sold
The property comprises a locally listed double fronted A2 unit with accommodation over ground and lower ground floors. The ground floor provides predominantly open plan space which benefits from a large amounts of natural light from the fully glazed double frontage overlooking both Head Street and St Johns Street. The lower ground floor provides largely cellular staff/storage accommodation as well as a training room. Accommodation Ground Floor: 85.66 sq m (922 sq ft) Lower Ground Floor: 65.58 sq m (706sq ft) Total 151.24 sq m (1,628 sq ft) Business Rates From enquiries with the Local Rating Authority we understand that the premises are assessed as follows: Rateable value:£21,250 Rates payable (2019/20): £10,433.75 pa Terms The unit is available by way lease assignment for a term of 1.5 years ending on 23 June 2021 on a rent of £17,500 pa. Further details available upon request. Consideration will be given to offer the property to let on a new fully repairing and insuring lease at a minimum rent of £22,750 per annum. An additional service charge contribution will be levied. The property is not elected to VAT. Deposit Dependant upon covenant strength, a rental deposit equivalent to one quarters rent (£7,500) will be required by the landlord and held under deed for the duration of the lease. Legal Fees Each party is to be responsible for their own legal fees incurred during this transaction. The landlord may require a non-refundable abortive legal fees deposit upon agreeing terms.
LocationThe premises are located on the busy intersection between Headgate, Head Street, St Johns Street and Crouch St, on one of the main vehicular roads through the town centre, providing excellent shopping and recreational facilities along with a mainline railway station just a short distance away, providing a regular service to London's Liverpool Street Station in approximately 55 minutes.