Colchester music venue building up for sale at £990,000

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A city centre building housing a popular live music venue has been put up for sale with a guide price of nearly £1 million.

The six-bedroom property in Colchester's High Street is set to go under the hammer with a starting bid of £990,000.

It is a freehold mixed-use investment opportunity and includes commercial and residential units in the heart of Colchester.

The site comprises of four residential flats and three commercial units, which are all fully let and generating income, according to the listing.

Multi-purpose - one of the six bathrooms is used for storage. (Image: Harris + Wood)

There is a bar, wedding boutique and a comic store in the building.

Live music venue Coda operates from the bar premises and regularly hosts live bands, tribute acts, open mic nights and touring artists.

Venue - Coda hosts live bands. (Image: Harris + Wood)

Estate agent Harris + Wood says the portfolio currently generates rental income of around £124,441 per year.

The residential section includes two one-bedroom flats and two two-bedroom apartments, including a duplex apartment, with all units let under separate tenancies.

Comic shop - Ace Comics operates over two floors and a mezzanine. (Image: Harris + Wood)

The property occupies a prominent position between Colchester High Street and Culver Street East, close to Culver Square, shops, restaurants and Colchester Town railway station.

In its listing, site is described as a "rare opportunity" for investors seeking a fully-tenanted city-centre asset with multiple income streams and scope for future rental growth.

Something new - a popular wedding shop operates from the site. (Image: Harris + Wood)

While the sale relates to the freehold investment rather than the businesses themselves, the listing is likely to attract attention from regular visitors to Coda, which has become an established part of Colchester's live music scene.

Office space - one side of the building overlooks Culver Street East. (Image: Harris + Wood)

Abigail’s Collection, an award-winning bridal boutique, is next door.

It offers designer wedding dresses, menswear and personalised styling appointments for brides and grooms.

Impressive - a spiral staircase runs between the floors. (Image: Harris + Wood)

Facing Culver Street, Ace Comics is one of Colchester's best-known specialist retailers, stocking comics, graphic novels, collectibles, trading card games and board games for enthusiasts of all ages.

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