A high yielding mixed use freehold investment with a multiple income stream

Situated on the fringe of Colchester town centre, this strong residential and commercial investment comprises 3 retail units and 5 flats. The shops are let on established full repairing & insuring leases generating £12,500 per annum and the flats on Assured Shorthold Tenancies generating £27,360 per annum. The total gross revenue of £39,860 gives a healthy yield of nearly 9% at the low end of the Guide Price and in our opinion this Lot represents an excellent and very stable multi-stream income investment. Notes: In addition to the administration charge, the purchaser will be required to pay a Buyer's Premium of £1,200 (£1,000 + Vat) which is payable upon signing the contracts. VAT may be payable on 24% of the purchase price, please see the legal pack for further details.

Tenure

Freehold

Tenancy schedule - Residential (12 Vineyard Street)

Flat 1 – 1 bedroom, 355 sq ft – 12 month AST from 30/10/14 @ £495 pcm Flat 2 – 1 bedroom mezzanine, 310 sq ft – 12 month AST from 5/7/14 (now periodic) @ £475 pcm Flat 3 – 1 bedroom mezzanine, 315 sq ft – 12 month AST from 5/8/15 @ £450 pcm Flat 4 – Studio, 290 sq ft – 12 month AST from 10/7/15 @ £430 pcm Flat 5 – Studio, 275 sq ft – 12 month AST from 26/2/15 @ £430 pcm

Tenancy schedule - Commercial (10,14 & 16 Vineyard Street)

No 10 – 155 sq ft (Computer repairs & peripherals) - 6 year lease from 2/4/12 @ £3500 pa No 14 – 345 sq ft (Tattoo parlour) – 5 year lease from 23/8/11 @ £4000 pa No 16 – 365 sq ft (Vintage clothing) – 5 year lease from 21/2/13 @ £5000 pa

Viewing

By Appointment. Please call the Auctioneers - 01473 558888

Energy Efficiency Rating (EPC)

Current Rating 10-12 Vineyard Street: E 14 Vineyard Street: G 16 Vineyard Street: G Flat 1 Vineyard Street: D Flat 2 Vineyard Street: D Flat 3 Vineyard Street: D Flat 4 Vineyard Street: C Flat 5 Vineyard Street: C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Colchester Borough Council. Tel: 01206 282222

Solicitors

Bawtrees LLP, 65 Newland Street, Witham, Essex CM8 1AB, Ref: Andrew Shirley, Tel: 01376 513491

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.