An exceptional opportunity to acquire a substantial freehold mixed-use investment portfolio positioned in the heart of Colchester city centre, comprising four residential flats and three fully let commercial units across the prominent High Street and Culver Street East locations. Producing a combined annual rental income of approximately £124,441 per annum, the portfolio offers an attractive gross yield of approximately 11.31% based on the guide price.

The commercial element consists of three established businesses currently occupied by a bar, wedding boutique and comic store, all held on separate leases with established tenancies in place. The residential accommodation comprises two one-bedroom apartments situated on Culver Street East alongside two apartments on the High Street, including a spacious duplex apartment. All units are separately let and income producing, creating a well-diversified investment with multiple revenue streams.

Situated within the centre of Colchester, the properties benefit from excellent footfall, strong local amenities, nearby transport links and continued demand for both residential and commercial accommodation. The location places the investment within easy reach of Culver Square Shopping Centre, restaurants, bars, retail operators and Colchester Town Station.

This is a rare opportunity for investors seeking a high-yielding, fully tenanted freehold asset within a prime and historic city centre position, offering immediate income from day one with future asset management and rental growth potential.

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’. These prices are subject to change.

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.