Development
properties

3 High Street, Colchester CO1 1DA

We are inviting offers in excess of £425,000 for the leasehold interest

Permitted Development Opportunity

Site with prior notification for the change of use of first to third floors inclusive from offices (B1a) to 13no. residential apartments

The scheme is ready for construction

Site measuring approximately 303sqm/3,261ft2

Estimated market rent once complete £101,700

8-minute drive to Colchester Station which provides direct links into London Liverpool Street

999 year leasehold

Sold with vacant possession

Up to date search pack

Offers in excess of £425,000

Description

The property comprises a multi-storey mid-terraced building providing two retail units at ground level, let and sold off separately with accommodation above, previously used as offices but currently in a shell condition in readiness for development. The properties themselves are accessed from the rear via a shared pedestrian walkway. The property has no outside space or parking. The offices were in a basic dilapidated order. The site now benefits from Notification for prior approval for the proposed change of use of first to third floors inclusive from offices (B1a) to 13no. residential apartments (C3).

Location

Colchester is a historic market town situated within the county of Essex. The site is situated within a commercial location in Colchester within close proximity to local facilities and transport links. The town offers a range of amenities such as sporting facilities, fitness centres, restaurants, pubs, and only a short walk to the new 90,000 sqft Fenwick Department Store. Furthermore, the scheme is only a 10 minute drive to Colchester football club. These two factors combined make the location reasonably sought after. The local area also offers a great choice of schools including St. Mary’s School, Colchester High School and The University of Essex. Colchester offers open grasslands and stunning scenery such as Gosbecks Arcaeological Park which covers 65 hectacres, Lexden Park Local Nature Reserve and Westlands Country Park which are all perfect for outdoor activities such as running, cycling, walking and fishing.

Transport

The site is well located for transport links, being only 1.1 miles away (4 minute drive) from Colchester Town Station, which provides direct links to London Liverpool Street as well as other local destinations including Clacton on Sea and Walton on the Naze. There are several bus stops which provide services into the town centre and to the University campus which is a 9 minute drive from the proposed scheme. We believe that the scheme offers a unique opportunity for students looking for alternative accommodation away from the quieter surroundings.

Planning Permission

Application number: 200417– Notification for prior approval for proposed change of use of first to third floors inclusive from offices (B1a) to 13no. residential apartments (C3).

Access

Access can be arranged with sole agents Highfield Investments.

Additional Information

Planning and other related documents will be sent in the form of an information pack that can be requested from a member of the Highfield team.

The scheme will be placed in Allsops forthcoming online auction on 31st March if not sold prior.

VAT

We have been advised that VAT is applicable.

Tenure

999 years leasehold.

Terms

We are inviting offers in excess of £425,000 for the leasehold interest.

Schedule

Unit Type (sq m) GIA (sq ft)
Unit 1
Type Studio
(sq m) 24
GIA (sq ft) 258
Unit 2
Type Studio
(sq m) 27
GIA (sq ft) 291
Unit 3
Type Studio
(sq m) 17
GIA (sq ft) 183
Unit 4
Type Studio
(sq m) 23
GIA (sq ft) 248
Unit 5
Type Studio
(sq m) 27
GIA (sq ft) 291
Unit 6
Type Studio
(sq m) 31
GIA (sq ft) 334
Unit 7
Type Studio
(sq m) 21
GIA (sq ft) 226
Unit 8
Type Studio
(sq m) 18
GIA (sq ft) 194
Unit 9
Type Studio
(sq m) 21
GIA (sq ft) 226
Unit 10
Type Studio
(sq m) 35
GIA (sq ft) 377
Unit 11
Type Studio
(sq m) 21
GIA (sq ft) 226
Unit 12
Type Studio
(sq m) 18
GIA (sq ft) 194
Unit 13
Type Studio
(sq m) 20
GIA (sq ft) 215
Unit
Type
(sq m) 303
GIA (sq ft) 3,261

Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.