Commercial Property for sale

London Road, Copford, Colchester, Essex


OIRO
£4,500,000
41,193 ft²

Features

  • 4.74 acre site / 41,193 sq ft accommodation / recent full refurbishment of Renzland House (14,885 sq ft)
  • Includes 2.7 acre commercial development site - planning consent granted for 27,000 sq ft of offices
  • Longstanding good quality tenants
  • Reserved Income 319,700 per annum underpinned by high quality anchor tenant (200,000 per annum)
  • Substantial Investment & Development Opportunity - Freehold

Description

Location



The site is situated on the south side of London Road only 1 mile from the A12/A120 interchange and Marks Tey railway station which provides a mainline link to London.



The entire site benefits from dual access onto London Road which is one of the main means of access into Colchester town centre which lies approximately 5 miles due east.



Colchester is one of the fastest expanding towns within the UK and benefits from excellent road and rail links together with strategic access to the east coast ports of Felixstowe and Harwich.



Description



The three principal sections of the property comprise:-



(a) 71 - 73A, 73B, 73C & 75 & Land Rear of 77 London Road - A multi let commercial property investment comprising five let elements generating annual income of 119,700 per annum.



(b) 85 London Road - Comprising Renzland House, AGM House and adjoining land, the operational headquarters of Aquatronic Group Management Plc operations and let on a 10 year lease commenced 31st January 2020 at 200,000 per annum.



(c) 2.7 acres - Commercial development site with planning consent for 27,000 sq ft.



In addition two bungalows (81 & 83 London Road) are available by separate agreement at 300,000 each



A detailed description of each element of the property is available on a supplementary information sheet, by request.



Energy Performance Certificates



A full copy of the EPC assessments and recommendation reports is available from our office upon request.



Covenant



The anchor tenant Aquatronic Group Management Plc benefits from an Experian 'Low Risk' credit rating with the maximum credit score of 100 out of 100.



AGM Plc was incorporated in 1997 and for the year ended September 2019 recorded a turnover of 14.7 million.



Planning



The existing uses on site are long established and comprise a blend of B2, B1 and A1 activities.



The rear development site benefits from a planning consent for a 27,000 sq ft office village and also offers strategic opportunities for further expansion of the anchor tenants operation (subject to planning).



A copy of the planning consent is available upon request.



Terms



4,500,000 + VAT for the whole. Subdivision into two parts may be considered, prices upon application.



VAT



The property is VAT elected.

Categories

Commercial Properties
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Property reference
CP56861_14869474