Summary - East Hill, Colchester CO1 2QX
2 bed 2 bath Terraced
Two-unit period property with instant rent and renovation upside.
Ground-floor studio recently modernised and let at c. £650 pcm
A compact period terraced property in central Colchester presented as two separate dwellings, offering immediate rental income and longer-term uplift through renovation. The ground-floor studio has been recently modernised and currently lets for approximately £650 pcm, while the first-floor two-bedroom flat requires full modernisation and roof attention. Allocated off-street parking and a short walk to town and the station add practical appeal for tenants or resale.
This lot is sold via the Modern Method of Auction. Successful buyers will sign a Reservation Agreement, pay a non-refundable part-payment deposit (4.5% of the purchase price, minimum £6,600) and must complete within the 56-day reservation period. A Buyer Information Pack is available for a fee of £349 (incl. VAT) and buyers should factor in auction fees and additional optional service costs up to £450.
The property suits investors or hands-on buyers seeking a value-add project: rental income from the refurbished studio helps offset costs while the first-floor flat offers scope for refurbishment or resale. Material negatives to note are the need for renovation (including reported roof issues), a very high local crime rate, and the property’s location in a deprived area — all factors that affect lettings, insurance and renovation budgets. Council tax is very low, and connectivity (mobile and broadband) is strong.
Viewings and pre-purchase inspections are strongly recommended, particularly if you require mortgage finance. Check the Buyer Information Pack and liaise with lenders before bidding to confirm affordability and scope of works.
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