Summary - CORAL RACING LTD, 43, NEWLAND STREET CM8 2BD
1 bed 1 bath Commercial Property
Prominent Newland Street retail block—part let, part vacant; redevelopment or re-let potential..
Circa 6,709 sq ft net internal area over two floors
A substantial high-street commercial building occupying a prominent position opposite Witham’s Newland Shopping Precinct. The property offers circa 6,709 sq ft of net internal area across ground and first floors with two rear car spaces and good A12/A120 road links to Chelmsford, Colchester and the M25.
Part of the building is let on a 10-year lease from 01/04/2022 at £34,000 pa, while approximately 1,814 sq ft (168 sq m) is currently vacant — creating immediate re-lettable income or scope for owner occupation and reconfiguration. The brick façade and mid-20th/early-20th century fabric suit a range of retail, office or mixed-use conversions, subject to consents.
Important practical points: tenure is not specified and will need confirmation; parts of the building will likely require refurbishment to modern let-able standards; broadband speeds are average. The location benefits from excellent mobile signal, abundant town-centre amenities and strong passing footfall opposite major retailers.
This asset is most suitable for investors or owners looking for a town-centre redevelopment/re-letting opportunity. The split between income-producing and vacant space gives flexibility — either to stabilise rental income quickly or add value through refurbishment and re-letting. Note the local recorded crime level is very high; prospective purchasers should factor this into lettings strategy and any security investment.
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