Acquired
Colchester – Children`s Play Centre
1/1A Scheregate, Colchester, Essex CO2 7ASFreehold Three-Storey Retail Investment
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
9y 7m
Area
1,325 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises Grade II Listed three-storey retail premises
- Occupiers close by include Timpson, Cake Box, Restaurants, Beauty Salon, Café and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises double fronted retail premises at ground floor with ancillary accommodation at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 56 sq m (603 sq ft)
Open plan retail, kitchen, storage, wc
First Floor: 55 sq m (590 sq ft)
3 rooms, kitchen
Second Floor: 12 sq m (132 sq ft)
1 room
Total GIA: 123 sq m (1,325 sq ft)
Ground Floor: 56 sq m (603 sq ft)
Open plan retail, kitchen, storage, wc
First Floor: 55 sq m (590 sq ft)
3 rooms, kitchen
Second Floor: 12 sq m (132 sq ft)
1 room
Total GIA: 123 sq m (1,325 sq ft)
Tenancy Description
The property is at present let to Jay Childcare Matters Ltd (with personal guarantee) for a term of 10 years from 18th July 2025 at a current rent of £19,000* per annum and the lease contains full repairing and insuring covenants. Rent review on 18.07.30 linked to RPI. Tenant option to determine on 18.07.30 with minimum 6 months notice. Deposit held of £4,750.
*Tenant currently pays reduced rent of £18,000 for Year 1. Vendor will top up rent until 18.07.26 so the buyer receives the equivalent to £19,000 p.a. from completion
*Tenant currently pays reduced rent of £18,000 for Year 1. Vendor will top up rent until 18.07.26 so the buyer receives the equivalent to £19,000 p.a. from completion
Tenancies & Accommodation
Location Description
Colchester has a resident population of circa 185,000 people and provides excellent communication links to the M25, Stansted Airport and the port of Harwich via the A120 and to the Midlands via the A14 at Ipswich. The property is situated on Scheregate Steps, a busy secondary trading location near St Johns Walk Shopping Centre which houses various multiples including Iceland and Poundstretcher plus a 650 space multi storey car park.
