Summary - 35 NORTH STATION ROAD COLCHESTER CO1 1RQ
1 bed 1 bath Retail Property (out of town)
Ready-to-trade convenience unit with rental income and strong commuter footfall.
- Prominent Class E shop with high roadside visibility and steady footfall
- Self-contained 2-bed flat above currently let at £1,300 pcm (£15,600 pa)
- Freehold option: shop + flat £450,000 plus £45,000 premium (incl. goodwill)
- Lease option: new FRI lease £18,000 pa plus £45,000 premium (shop only)
- Rear yard access for deliveries and external storage
- No business rates payable reported (must be confirmed with local authority)
- Small plot/typical terrace rear space; limited exterior servicing room
- Local area records higher-than-average crime; may affect insurance costs
A substantial, high-visibility Class E retail unit with a self-contained two-bedroom flat above, positioned 0.2 miles from Colchester North Station. The ground floor is fully fitted and trading as a long-established convenience store with an alcohol licence, benefitting from steady footfall and strong roadside exposure on a busy local parade.
Two acquisition routes are offered: freehold (shop and flat) at £450,000 plus a £45,000 premium (goodwill, fixtures, fittings and stock included), or a new FRI lease on the shop alone at £18,000 pa plus the same £45,000 premium. The flat is currently let at £1,300 pcm (£15,600 pa), providing immediate rental income to offset ownership costs.
Practical advantages include rear yard access for deliveries or storage and a large internal area (approx. 2,044 sq ft total). Prospective buyers should note the premium payable on sale/lease, the need to confirm business rates relief with the local authority, and a small rear/plot footprint typical of urban terrace properties. The area records higher-than-average local crime levels, which may affect insurance and operational considerations.
This property suits an investor seeking a mixed-use income asset or an owner-operator wanting a ready-to-trade convenience outlet with living accommodation above. The strong transport links and consistent passing trade support continued retail use; alternative town-centre uses may be possible subject to planning.
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