Former National Tyres, 18 Middleborough, Colchester, CO1 1QT

LOCATION
Colchester is a fast-growing city in the northeast of the county Essex. It is the second largest city in the county, with a population of approximately 130,000 according to the 2021 census. Colchester, a well-connected city, is approximately 65 miles northeast of central London via the A12, 18 miles southwest of Ipswich and 49 miles southeast of Cambridge. Colchester North Station is just 1.1 miles north of the property. Colchester North Station is located on the main line to London Liverpool Street with journey times of approximately 56 minutes. The property occupies a highly prominent position on a roundabout connecting three key roads, offering excellent visibility and exposure.

The property is situated in the Middleborough area of the city centre, a well-known business part of Colchester city centre located at the bottom of North Hill, 0.3 miles north of the High Street where you will find a wide range of shops, cafes and restaurants perfect for lunch breaks or after work meetings. Middleborough is home to many professional companies and services. Businesses nearby include Ellisons Solicitors, Handelsbanken, Birkett Long LLP, Howden Insurance, Spicer Haart Estate Agents and Colchester Borough Council. Colchester retail park is located 0.2 miles to the west, which offers convenient access to well-known businesses including Matalan, Go Outdoors, Pure Gym and Subway.

DESCRIPTION
Key Features:

- Highly Prominent Location with excellent road visibility
- Generous Yard and Parking Facilities
- Wide Manual Roller Shutter Door
- Three-Phase Power Supply

18 Middleborough comprises a former car workshop with ancillary storage rooms with a large yard to the rear, extending to a total site area of 0.256 acres. Constructed of concrete frame and brick elevations, the property benefits from features including concrete floors, strip lighting and a manual roller shutter door measuring 5.94m wide by 3.79m high. Internally, the ground floor accommodation is arranged to provide two workshop bays, several storage rooms, a reception area, staff room, and W/C facilities. The workshop includes a first floor that offers additional storage space. The roller shutter side of the property, known as Workshop Bay 1, benefits from an apex height of 4.27m, while Workshop Bay 2 on the opposite side offers a height of 3.35m.

Externally, there is a large rear yard providing ample space for parking and additional storage potential.

Previously occupied by National Tyres, the property is ideally suited for continued use as a car workshop, though alternative uses will be considered subject to planning.

ACCOMMODATION
The property has been measured on a Gross Internal Area (GIA):

Main Workshop - 192.92 m2
Tyre Storage - 88.93 m2
Training Room - 27.33 m2
Rear Storage - 49.93 m2
First Floor - 119.63

Total - 468 m2 (5,153 sq. ft.)

SERVICES
We understand the property is connected to mains water, drainage, and three-phase electricity. However, none of the services have been tested, and interested parties should rely upon their own enquiries with the relevant utility providers regarding the availability and capacity of all services, including IT and telecommunications.

TERMS
Their is a potential to acquire the building Freehold with Vacant Possession - £600,000 plus VAT

The property is also available to let by way of an assignment or subletting of the existing full, repairing and insuring Lease expiring 9 April 2033 at a passing rent of £43,210 per annum exclusive plus VAT. The Lease provides for periodic rent reviews every five years, with the next review scheduled for 9th April 2028. A copy of the Lease is available on request.

Subject to covenant strength, terms may be negotiable for a new Lease.

OUTGOINGS
The subject property is assessed for the purposes of the 2023 Rating List as follows:

Address: 18, Middleborough, Colchester, CO1 1QT

Description: Tyre and Exhaust Centre and premises

Rateable Value: £34,250

Rates Liability 2025/2026: £17,090

VAT
The property is elected for VAT.

LEGAL COSTS
Each party to bear their own legal costs incurred in this transaction.

VIEWING
Strictly by appointment only via sole agents Nicholas Percival Ltd.