Machine Mart, Colchester

Property Description

• Virtual Freehold Retail Investment.
• Double fronted unit totalling 483.6 sqm (5,205 sq.ft.) of accommodation

Location Description

• Colchester is an historic town situated adjacent to the A12, midway between Chelmsford and Ipswich and approx 60 miles north-east of Central London.
• The town benefits from good road communications, being at the junction of the A12, A120 and A133.
• Colchester Rail Station is some 800m from the property and provides regular rail services to London Liverpool Street (Journey time approx. 55 mins).
• The property is situated in an established parade in a predominantly residential area just north of the town centre. It is on the east side of North Station Road, close to its junction with Causton Road
• Occupiers close by include: One Stop Shop, Coral, Pizza Hut, Dominos Pizza and numerous local businesses

Tenancy & Additional Notes

• Let to Machine Mart Ltd for 18 years from 18/08/2019 for £41,750 p.a. with rent reviews 2029 and 2034 on an effectively FR&I lease
• Machine Mart are Britain’s No.1 Specialist Tools and Equipment Superstores, with 65 superstores nationwide www.machinemart.co.uk.
• For the year ending 31st May 2021 Machine Mart Limited reported a turnover of £86,285,371, a pre-tax profit of £16,134,311, shareholders funds of £26,238,823 and a net worth of £26,143,163. (Source: Experian 16.08.2022).
• The existing lease was granted for a term of 5 years commencing on 18 August 2019. A new 13 year reversionary lease will start at the expiry of the existing lease on 18th August 2024.
• Two units on the same parade are also for sale in the same auction – an independent convenience store (Lot 66) and Ladbrokes Betting & Gaming Limited (t/a Coral) is Lot 59
• VAT is applicable