Summary - 31, ST BOTOLPHS STREET CO2 7EA
5 bed 1 bath Restaurant
High-yield investment with immediate income and town-centre footfall.
Income-producing freehold: £45,000 pa rent, 9.09% gross initial yield
Let on 10‑year FRI lease to Wraps & Wings franchise with personal guarantee
Tenant has break option at year 5 (six months’ notice) and RPI rent reviews
Deposit held £10,000; VAT not applicable
Large double-fronted restaurant with commercial kitchen and storage
Five-bedroom residential flat above; separate access and multiple storage areas
Garage and one parking space to rear; garage requires maintenance
Local concerns: very high crime rate and area deprivation indicators
An eye-catching mixed-use freehold in central Colchester, this three‑storey property combines a large ground-floor restaurant with a five‑bed residential flat above. The current tenant operates under a 10‑year FRI lease producing £45,000 pa, giving a strong gross initial yield of 9.09% and clear income from a town‑centre trade location two minutes’ walk from Colchester Town rail station.
The ground floor is a double‑fronted restaurant with bar, serving counter, commercial kitchen, storage rooms and rear access to a courtyard, garage and a single parking space. Upper floors provide five bedrooms, bathroom and multiple storage areas across the first and second floors — useful for rental or operator accommodation. VAT is not applicable.
This is a straightforward investment proposition for an investor seeking immediate income and future reversion potential. Note the tenant holds a break option in year five (minimum six months’ notice) and rent reviews are linked to RPI. A deposit of £10,000 is held against the lease.
Be frank about risks: the area registers high crime levels and general deprivation indicators, and the garage is shown as neglected and will need maintenance. The building footprint is constrained by neighbouring units; any substantial reconfiguration would require careful planning. Overall, the lot suits a buyer prioritising yield and town‑centre footfall, with an acceptance of local area challenges and medium‑term tenant risk.
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