Summary - 1, SCHEREGATE CO2 7AS
1 bed 1 bath Retail Property (high street)
High‑yield central retail freehold with immediate income and reconfiguration potential.
Freehold three‑storey Grade II listed Victorian retail premises
A rare freehold high‑street investment on Scheregate Steps, Colchester, offering immediate income and a strong headline yield. The Grade II listed, three‑storey Victorian property is double‑fronted at ground floor with large display windows and ancillary upper floors — a classic town‑centre retail asset that suits investors seeking fixed income and potential reconfiguration of upper floors subject to consents.
The property is let to Jay Childcare Matters Ltd on a 10‑year lease from 18 July 2025 at a current rent of £19,000 pa (vendor to top up to this level until 18.07.26). Gross initial yield is 9.05% with RPI‑linked rent review in 2030 and a tenant option to determine on 18.07.30 (minimum six months’ notice). Deposit of £4,750 is held and the lease is full repairing and insuring.
Important constraints: the building’s Grade II listing will restrict alterations and could increase maintenance costs. Only 10 years remain on the lease and the tenant has an early option in year five — some mortgage lenders may refuse lending on short‑dated leases, which will affect buyer financing. The unit fronts a busy pedestrian high street with no private parking and a small plot footprint.
Location strengths include proximity to multiple town‑centre retailers, car park facilities, and good transport links to the A120/A14 corridor. Conversely, local crime levels and area deprivation are recorded as high; these are material considerations for end‑use, tenant mix and long‑term capital growth.
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