A fantastic, rare investment opportunity has arisen to within this beautiful Grade II listed building set on this sought after street in the centre of Colchester's vibrant City Centre, which is currently being used as one large office space however is being offered for sale with permission soon to be granted for conversion into a 12 bedroom, 7 bathroom HMO.

An application has been submitted to Colchester Borough Council for a fairly simple conversion of this historic building to create a superb House Of Multiple Occupancy, with a total of 13 bedrooms, 7 bathrooms, 3 kitchens and a basement level recreational and laundry space with a projected income of £10,500 pcm. Full information on this application can be found on Colchester BC's planning portal using reference number 241368.

The property also benefits from a secure car park to rear with a total of 14 spaces, accessed via Balkerne Passage. This could generate an additional income or increase the monthly income for the individual rooms.

As previously mentioned the property is currently used as one large office and let at £50,000 per annum, with the current tenants vacating in November 2024.

Furthermore the property benefits from lapsed planning consent for the conversion into a total of 5 residential apartments, in our opinion this could easily be granted again if desired. Information on this application can be found Colchester BC's planning portal using reference number 151528.

Enquiries strictly to go strictly via our offices, please contact us if you require further information or if you'd like to arrange your private viewing, which can be accommodated on request.