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    Key features

    • To be offered on Wednesday 5 November
    • A freehold mixed use property
    • Ground floor restaurant with commercial kitchen and storage
    • 1 X 3 bedroom flat and 1 X 2 bedroom flat
    • Entire building let on a new 10 year FRI lease from 15/10/2025 (subject to an option in year 5)
    • Let to Hunger Hub PVT Ltd a Franchise t/a Wraps and Wings
    • RPI linked rent reviews every 3 years
    • £11,250 holding deposit held
    • Future asset management potential to sell residential parts off separately
    • VAT free investment
    • Total GIA approx. 3,210 sq ft (298 sq m)
    • Investment let at £45,000 per annum (12.85% GIY on guide price)

    Description

    A freehold mixed use property arranged as a ground floor restaurant unit with two flats above let to Hunger Hub PVT Ltd a Franchise t/a Wraps on a new 10 year FRI lease from 15/10/2025.

    Total GIA approx. 3,210 sq ft (298 sq m).

    Investment let at £45,000 per annum (12.85% GIY on guide price).

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor - 168 sq m (1,810 sq ft) open plan restaurant, commercial kitchen, storage rooms.

    First Floor - 90 sq m (970 sq ft) Three bedrooms, bathroom, multiple storage areas.

    Second Floor - 40 sq m (430 sq ft) two bedrooms, multiple storage areas.


    Total GIA - 298 sq m (3,210 sq ft)

    Tenancy

    The property is let to Hunger Hub PVT Ltd t/a Wraps and Wings on a fully repairing and insuring lease for a term of 10 years from 15/10/2025. The lease includes RPI linked rent reviews every 3 years and a tenant only option to break on the 5th anniversary subject to 6 months prior notice.

    Please note the vendor has a holding deposit of £11,250 from the tenant.

    The lease also includes a rent free period of 4 months from 15/10/2025 - The vendor has agreed to top up the rent until this has expired.

    Rent

    £45,000 per annum

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on the East side of St Botolph's Street, which is accessed from St Botolph's Circus and Queen Street. The property is situated at the southern end of the high street and occupies a central and convenient location.

      Transport

      Colchester Town Station (350ft) - Greateranglia

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums