Land to the Rear of 1-12 Villa Road, Stanway

LOCATION
Villa Road is situated in Stanway, approximately 2.5 miles west of Colchester Town Centre via the busy Lexden Road. The A12 trunk road, Tollgate Retail Park and Stane Retail Park are circa 0.8 miles west, at the Tollgate Interchange. Occupiers at Tollgate Retail Park include Currys / PC World, Argos, B&M Stores, and Wren, Stane Park occupiers include B&Q, Aldi, Marks & Spencer, Greggs and Sainsbury´s Superstore adjacent.

Villa Road has excellent road links to the national motorway network, 0.5 miles east of the A12 (J26) and 2 miles east of the A120, while also accessible to the mainline railway stations at Marks Tey and Colchester providing direct links to London Liverpool Street (journey time approx. 50 minutes).

The development is situated off one of Colchester´s main arterial roads (London Road) to the northern end of Villa Road and directly to rear of a parade of shops which include Martin McColls Convenience Store, Essex County Council Library and Rhim Jhim Indian Restaurant. There is a pedestrian walkway from Villa Road through to Tolgate East with occupiers including Homebase and Magnet Kitchens.

DESCRIPTION
The development will provide a new and exciting commercial building extending to circa 2,200 sq ft and will deliver a high-quality building feature corner window facing the access road creating a new observation point. The glass is angled to orientate views over the parking area. The glass facade is angled to reduce glare from the rising and setting sun, whilst making most of the benefit of solar gain to passively heat the building during the autumn and winter. A large soffit above the glass helps to shade the building in the summer months and to aid cooling. The slant of the glass also aims to promote visibility across the car park and reduce glare to the neighbouring dwellings.

The new development will be suitable for a range of occupiers to include but not limited to retail, restaurant, office, health, leisure and the developer will work with the tenant in respect to the final specification and internal fitout works.

The site is accessed from Villa Road. There is an area of hardstanding which is used for staff and customer car parking.

TERMS
RENT
£45,000 per annum exclusive plus VAT

OPPORTUNITY / TERMS
It is envisaged that interested parties would enter into an agreement to lease based on commercial Full Repairing and Insuring terms for a period of 10 - 15 years with upwards only rent reviews every 5th anniversary of the term at a passing rent of £45,000 per annum, payable quarterly in advance. Dependant on covenant strength and references, personal Director guarantees and holding deposits may also be required.

From agreement to lease the development is anticipated to be finished within a 12-month period.

OUTGOINGS
Once the development is complete, the premises will be assessed for business rates.

VAT
All rents and prices quoted are exclusive of VAT under the Finance Act 1989. The property will be elected for VAT, therefore VAT will be applicable to the rent. Interested parties are advised to consult their professional advisors as to their liabilities, if any, in this direction.

LEGAL COSTS
Each party is to be responsible for their own legal costs in relation to any transaction.

PLANNING
Planning Permission
Interested parties can view the planning application online, reference no. 212943.

VIEWING
By appointment with the sole agents, Nicholas Percival.
Thomas Noble