The Old Exchange, 64 West Stockwell Street, Colchester, CO1 1HE

£80,000 per annum exclusive

Overview

Office
Property Type

5741 - 5741
sq ft

Description

Location

An attractive office building built in 1928 as a telephone exchange, featuring traditional brickwork and sash windows. The accommodation is arranged over basement, ground, upper ground, first and second floors. The basement provides storage and houses the gas boiler. Office space is primarily open plan, with a mix of meeting rooms and partitioned offices across the upper floors. Finishes include carpeting, suspended ceilings, recessed Cat 2 lighting, gas central heating via radiators, IT cabling, and power connections. Separate ladies' and gents' WC facilities are located on the ground and second floors, with a kitchenette and air-conditioned communications room on the second floor.
To the rear of the building, there are up to twelve allocated on-site car parking spaces, accessed via a shared, card-activated security barrier.

LOCATION
The premises are well located within the City Centre in the popular 'Dutch Quarter' within easy walking distance of the High Street / retail centre. Nearby there are many pubs and restaurants, bus stops and Colchester mainline railway station (approx. 55 minutes to London Liverpool Street), all within easy walking distance. The A12 and A120 are easily accessible, providing fast journey times to Stansted airport and the East Coast ports.

ACCOMMODATION
[Approximate Net Internal Floor Areas]

Basement: 375 sq ft [34.8 sq m] approx.
Ground Floor: 1,120 sq ft [104.1 sq m] approx.
Upper Ground Floor: 1,373 sq ft [127.6 sq m] approx.
First Floor: 1,359 sq ft [126.3 sq m] approx.
Second Floor: 1,514 sq ft [140.7 sq m] approx.
Total: 5,741 sq ft [533.4 sq m] approx.

TERMS
The premises are available For Sale Freehold at a guide price of £1,000,000 or to let on a new lease, lease length and terms to be agreed, at a rent of £80,000 per annum, exclusive of business rates. We have been advised that VAT is not applicable.

Note - The premises are currently occupied by Streets Whittles on a full repairing and insuring lease contracted outside the Landlord & Tenant Act 1954, that expires on 15th June 2026 at a rent of £65,000 pa. The tenant has indicated their intention to vacate prior to the lease expiry

SERVICE CHARGE
We are advised that no service charge is applicable.

ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised that the premises fall within class E (114) of the energy performance assessment scale.

BUSINESS RATES
We have been informed that the rateable value for the whole building is £50,500. We estimate that the rates payable are likely to be in the region of £25,200 per annum.
Interested parties are advised to make their own enquiries with the local rating authority to confirm their liabilities

PLANNING
The premises are currently used for offices.
A change of use may be obtained to develop into a residential use. Alternative uses, such as medical, may also be possible subject to planning.

Interested parties are advised to make their own enquiries direct with the local planning authority.

VAT
We have been advised that VAT is not applicable.

LEGAL COSTS
Each party will be responsible for their own legal costs.

ANTI-MONEY LAUNDERING REGULATIONS
Anti-Money Laundering Regulations require Fenn Wright to formally verify prospective purchaser's identity, residence and source of funds prior to instructing solicitors.

VIEWINGS STRICTLY BY APPOINTMENT VIA SOLE SELLING/LETTING AGENTS:
Fenn Wright
T: 01206 854545
E: colchestercommercial@fennwright.co.uk