A mixed-use freehold, terrace property in need of modernisation and repair with an extent of approximately 3,206 SQFT and located in central Colchester. Ideal for investors and developers.
FOR SALE BY AUCTION: To be sold by public auction on the owners' instruction. A mixed-use freehold, terrace property in need of modernisation and repair with an extent of approximately 3,206 SQFT and located in central Colchester. It is configured as a double-fronted commercial/retail space on the ground floor with a bar area, a serving counter, and to the rear of this, a commercial kitchen with storage and access to the courtyard, garage and parking space and rear access through a shared ginnel. There are two storage rooms accessed separately from the courtyard. The customer washrooms and laundry area are located at the rear of the ground floor.
The residential accommodation is located on the first and second floors, with access from the ground floor it comprises three double bedrooms, a bathroom and storage on the first floor, as well as a lobby exit to the flat roof to the rear. The second floor comprises a further two bedrooms and storage areas. To be sold via online bidding on Friday, 23 May 2025.
Auctioneers comments: 'A unique opportunity to buy a large mixed-use freehold property in central Colchester that has not been on the market for forty years and is ideal for investors, developers and business owners.'
Auction date
The property is to be sold by public auction on Friday, 23 May 2025, with a two-hour online bidding window.
Description
Mixed-use, terrace, freehold, five bedrooms, garage, parking space
Location
Central Colchester, Essex, close to St Botolph's Church, 1.3 miles to Colchester railway station
Accommodation
Ground floor: open plan commercial space, commercial kitchen, multiple storage rooms
First floor: three bedrooms, bathroom, exit lobby, multiple storage areas
Second floor: two bedrooms, multiple storage areas
Outside
External entry potch, Integral garage with access, ginnel access, parking space to rear, flat roof/deck to rear of first floor
EPC rating
To be confirmed
Tenure
Freehold with vacant possession
Local authority and council tax band
Essex County Council
Colchester Borough Council
Council tax band: C
Pre-auction bids
To make a pre-auction bid, you must be an approved bidder. Once you have set up your online bidding account, verified your ID and paid the security deposit, you can email the amount you would like to bid. The common auction conditions and special conditions apply to all pre-auction bids, and no conditions will be acceptable. Should your pre-auction bid be accepted, you will need to immediately pay the balance of the 10% deposit (min. £5,000) and all auction fees listed. The Auctioneer reserves the right to refuse any bid.
Auction fees
In addition to the 10% deposit (min. £5,000) of your winning bid, you must pay an auction buying commission of 2.5% plus VAT (min. fee of £2,100.00 plus VAT) of the purchase price and auction buying fee of £1,900.00plus VAT. Please be aware that additional fees may be payable on completion, including disbursements in the legal pack. Check the legal pack for each lot you are interested in before bidding.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Lot 120 - Lot 120, 31 St. Botolphs Street, Colchester, Essex, CO2 7EA
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