Summary - Stewards Flat, 107a High Street CO1 1TH
1 bed 1 bath Commercial Property
**Standout Features:**
- Freehold commercial property with substantial redevelopment potential
- Total size: 8,670 sq.ft, allowing for diverse usage and expansion
- Planning permission granted for two additional stories and conversion into 16 apartments
- Currently generating rental income of £20,000 per annum from a newsagent/off-licence
- Vacant upper floors and rear space offer further opportunities for development
**Concerns:**
- Suspected structural movement; prospective buyers should confirm condition
- Area has high crime rates and is classified as deprived
Located in the heart of Colchester’s transitional neighbourhood, this expansive freehold commercial property represents an excellent investment opportunity. With an Approved Planning Permission to create 16 apartments by extending the building, the potential for profit is significant. Currently, part of the property is let as a newsagent/off-licence, generating a steady income, while the spacious vacated areas can be transformed for various uses, maximizing investment returns.
The property, although built before 1900, features a solid brick construction and offers ample square footage that could adapt to both commercial and residential needs. However, interested buyers should note the suspected structural issues, requiring thorough evaluation. The vibrant city centre location boasts access to numerous amenities and schools, ideal for families or investors looking to capitalize on the growing student population. This is a rare opportunity to secure a property with such extensive redevelopment prospects, so act quickly to realize its potential!
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