Summary - 17, ELD LANE CO1 1LS
1 bed 1 bath Mixed Use
Freehold retail block with rental income and refurbishment upside in Colchester city centre.
Freehold mixed-use terrace with three adjoining retail units
A rare freehold mixed-use block in the heart of Colchester city centre, producing a current net income of £27,500 pa with one retail unit vacant — offering immediate rental uplift or conversion potential. The terrace of traditional red-brick, Georgian-style buildings provides ground-floor retail frontage with storage and upper-floor space above; No.19 includes external storage accessed from the side.
The property sits on a busy pedestrianised stretch close to major shopping centres and public car parks, benefiting from strong footfall and excellent mobile and broadband connectivity. The three adjoining units total c.2,063 sq ft and deliver flexible options: hold for income, refurbish to re-let at higher rents, or develop the vacant unit for alternative use subject to consents.
Material considerations: the block requires renovation and one unit is vacant and in need of refurbishment. The immediate area is classified as deprived with very high crime levels — factors that may affect tenant profiles, insurance costs and lettings strategy. Buyers should factor in refurbishment budgets, potential security upgrades, and local market demand when appraising value.
This is a clear opportunity for an investor or small developer who can mobilise works and re-let quickly to capture rental upside in a central, high-footfall location. Due diligence is advised on refurbishment costs, planning/consent for any change of use, and running costs before exchange.
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