Summary - 103-104, HIGH STREET CO1 1TH
1 bed 1 bath Retail Property (high street)
Long-income convenience investment in a busy town-centre location.
Prominent High Street frontage with strong pedestrian catchment
Let to branded convenience operator (Premier) until 2040, no breaks
Passing rent £27,597 p.a.; gross initial yield 6.99% at asking price
Uncapped RPI rent reviews every fifth year; rent deposit held
Large open-plan retail: 1,692 sq ft with storage, office and WC
Long leasehold (999 years from 2015) with low ground rent £100 p.a.
Area deprivation and very high local crime — investor risk factor
Very slow broadband speeds may affect some occupiers
A long-income town-centre retail investment in Colchester’s High Street, let to a branded convenience operator until 2040. The lease is full repairing and insuring, with uncapped RPI-linked rent reviews every fifth year and a current passing rent of £27,597 p.a., producing a gross initial yield of 6.99% at the asking price.
The ground-floor unit extends to 1,692 sq ft of open-plan retail with storage, office and WC — an unusually large footprint for a single high-street retail bay. The leasehold title is a 999-year lease (remainder 988 years) with a modest ground rent of £100 p.a., which gives investor security similar to a virtual freehold while avoiding freehold management responsibilities.
Key commercial advantages include a branded convenience tenant, rent deposit in place, strong pedestrian frontage on High Street and proximity to major occupiers such as Primark, Sainsbury’s and Santander. VAT is applicable to the sale.
Material considerations are clear and should be factored into acquisition planning: the property sits in a deprived area with very high recorded crime, broadband speeds are very slow, and the neighbourhood profile is transitional with large student and Eastern European populations. The long unbroken lease and uncapped RPI reviews are positive for income certainty but limit short-term re-letting or repositioning opportunities.
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