This property is no longer on the market

Residential development

01206 988896

Call

Save

Residential development

0 bed

0 bath

Property description & features

Tenure: Freehold
Unique Development Opportunity
Iconic Art Deco Building
Lapsed planning permission with scope for various commercial and residential development schemes
Excellent Gross Profit Potential

A unique opportunity has presented itself to acquire this iconic building in the heart of Colchester Town Centre and in arguably it’s most prestigious road, surrounded by boutique shops, cafés, bars and restaurants. Originally built in the 1950’s as the town’s cinema and in a stunning Art Deco design, the property has sadly been empty and disused for over 15 years now, with many parties attempting to alter the use unsuccessfully. Though the most recent granted full planning permission has now lapsed, this landmark building still offers an excellent opportunity to redevelop the site into luxury apartments and high specification retail units, with prime street-front locations.

The lapsed planning permission comprises of 46 luxury apartments and two ground floor retails units, retaining and converting the buildings façade and utilising the remaining space to the rear to newly construct the remainder (and majority) of the development. Full information can be found on Colchester Borough Council's planning portal using reference 151004.

Furthermore, an appeal has recently been lodged for the demolition of the entire existing structure and re-build to create 48 apartments and two/three retail units, re-creating the façade in almost identical fashion. The planning portal reference for this is 202738.

Please contact us to register your interest and/or request the full legal pack -

All enquiries should be made strictly via Company Directors Michael Simpson or Michael Rayner.

We estimate a total GDV for the lapsed scheme at approximately £12.7m. For further and a breakdown of values please contact the us or refer to the legal pack

Show full descriptionHide full description

Visit agent website

Places of interest

Michaels Property Consultants - Colchester

62 Head Street Colchester, Essex CO1 1PB

01206 988896

Request viewing/info

Positioned in the heart of this historic town, our offices take prime location in an elegant and beautifully restored early Victorian property, which sits on the prestigious Crouch Street. Crouch Street has for many years been awarded the accolade of being the ‘Little Hamptons’, the road is full of quaint and bespoke shops, adorable eateries and of course a great Property Consultants! Since opening our doors to business in March 2013, we have taken the town and surrounding area by storm. All staff are local to the area and they have a great understanding and insight into the local market conditions. All of our team have worked in property, within the town for many years and unlike any other agent, Michaels really does have brand loyalty. “There is nothing more rewarding than a potential customer asking us if we can provide them with the same service as we gave to their friend. I can’t tell you how passionate we are about Customer Care. That comment makes me happy.” Said Mike, one of the Company Directors. The whole ethos and ethic of the team is to advise, assist and guide clients through the process and to do this as seamlessly as possible. We think that our working environment and our staff, need to mirror our professional standards. We are working from a beautiful office building, in the best position in town and we have trustworthy and professional staff to support us.

Visit agent website

Visit Agent's properties

See more properties like this:

Commercial property for sale in Central Colchester

*DISCLAIMER

Property reference 23285072. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Michaels Property Consultants - Colchester.

OnTheMarket may have applied supplementary data to this property listing, including:

Broadband availability and predicted speed

Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:

Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s

The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2

Mobile phone signal availability and predicted strength

Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:

Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services

Energy Performance data and Internal floor area

Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.

*Call rate information

Calls to 0843 numbers will be charged at 4p/min from BT landlines. Calls from other networks may vary, and calls from mobiles and outside the UK will be higher. Calls to local numbers beginning with 01, 02 and 03 numbers will incur standard geographic charges from landlines and mobiles.