£525,000
Retail premises for saleBallantyne Drive, Colchester CO2
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About this property
Description
The property comprises a self-contained ground-floor retail unit, together with a separately self-contained first floor.Total 6588sq.ft(612sq.m)
The ground floor is currently arranged as retail accommodation and benefits from:
* Concrete flooring, walls and ceiling
* Suspended LED lighting
* WC facilities
* Self-contained accommodation
* Suitable frontage and access for a range of commercial uses, subject to the necessary planning consents
The first floor is also self-contained and benefits from a fully glazed frontage.
Town Planning
The ground floor currently benefits from retail use and may be suitable for a range of alternative commercial uses, subject to planning permission and the relevant statutory consents.
Interested parties are advised to make their own enquiries with Colchester City Council regarding permitted uses and any proposed change of use.
The first floor has recently received planning permission for conversion into five one-bedroom flats under Planning Application Reference 251441.
Please note that the planning approval has been granted without the landlord/freeholder's consent. Any implementation of the residential scheme will therefore be subject to obtaining the necessary landlord/freeholder consent and agreeing the required lease variation.
Interested parties should satisfy themselves as to the planning position and the practical and legal requirements for implementing the approved scheme.
Tenure
The property is available by way of the sale of two 999-year long leasehold interests, commencing in January 2020.
The long leaseholds are split between the ground and first floors as follows:
* Ground Floor: 999-year lease with a ground rent of £300 per annum
* First Floor: 999-year lease with a ground rent of £290 per annum
The property is being sold with Full Vacant Possession.
Location
The property is prominently situated on Ballantyne Drive, benefiting from a highly visible riverfront position directly adjacent to University Quays. The surrounding area is well established and benefits from a strong mix of commercial, retail, educational and transport amenities.
Nearby occupiers and facilities include the University of Essex, Tesco Superstore, Home Bargains and The Hythe Railway Station.
Colchester is the major economic centre of North Essex, with a resident population exceeding 185,000. The city benefits from excellent transport links, with the A12 providing direct access to the M25 (Junction 28), as well as connections towards London and Ipswich. Stansted Airport is approximately 35 miles to the west and can be reached in around 50 minutes by car.
The property comprises a self-contained ground-floor retail unit, together with a separately self-contained first floor.Total 6588sq.ft(612sq.m)
The ground floor is currently arranged as retail accommodation and benefits from:
* Concrete flooring, walls and ceiling
* Suspended LED lighting
* WC facilities
* Self-contained accommodation
* Suitable frontage and access for a range of commercial uses, subject to the necessary planning consents
The first floor is also self-contained and benefits from a fully glazed frontage.
Town Planning
The ground floor currently benefits from retail use and may be suitable for a range of alternative commercial uses, subject to planning permission and the relevant statutory consents.
Interested parties are advised to make their own enquiries with Colchester City Council regarding permitted uses and any proposed change of use.
The first floor has recently received planning permission for conversion into five one-bedroom flats under Planning Application Reference 251441.
Please note that the planning approval has been granted without the landlord/freeholder's consent. Any implementation of the residential scheme will therefore be subject to obtaining the necessary landlord/freeholder consent and agreeing the required lease variation.
Interested parties should satisfy themselves as to the planning position and the practical and legal requirements for implementing the approved scheme.
Tenure
The property is available by way of the sale of two 999-year long leasehold interests, commencing in January 2020.
The long leaseholds are split between the ground and first floors as follows:
* Ground Floor: 999-year lease with a ground rent of £300 per annum
* First Floor: 999-year lease with a ground rent of £290 per annum
The property is being sold with Full Vacant Possession.
Location
The property is prominently situated on Ballantyne Drive, benefiting from a highly visible riverfront position directly adjacent to University Quays. The surrounding area is well established and benefits from a strong mix of commercial, retail, educational and transport amenities.
Nearby occupiers and facilities include the University of Essex, Tesco Superstore, Home Bargains and The Hythe Railway Station.
Colchester is the major economic centre of North Essex, with a resident population exceeding 185,000. The city benefits from excellent transport links, with the A12 providing direct access to the M25 (Junction 28), as well as connections towards London and Ipswich. Stansted Airport is approximately 35 miles to the west and can be reached in around 50 minutes by car.
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