10-16 Vineyard Street, Colchester, Essex

Description

A terraced three-storey period building comprising five flats above three shops. All tenanted and producing £67,302 per annum (excl. VAT). The property is situated in a high footfall area in close proximity to Colchester Town Rail Station.

Accommodation

Flat 1: 1st floor, 1 bedroom flat, 355 ft². Flat 2: 1st floor mezzanine studio flat, 310 ft². Flat 3: 1st floor mezzanine studio flat, 315 ft². Flat 4: 2nd floor studio flat, 290 ft². Flat 5: 2nd floor studio flat, 275 ft². No. 10 Shop: 200 ft², Eye Brow Bar. No. 14 Shop: 410 ft², Tattoo Parlour. No. 16 Shop: 490 ft², Hairdressers.

Location

High footfall area in close proximity to Colchester Town Rail Station.

Tenure / Property Information

Investment Analysis

Freehold mixed-use investment comprising five tenanted flats and three tenanted shops. The stated passing income is £67,302 per annum excluding VAT, equating to approximately 10.35% gross yield on the £650,000 guide price before fees, costs and finance. No completed-sale comparables or valuation evidence were supplied, so market value and GDV cannot be independently established.

Investment Snapshot

Strategy Recommendation

Income-focused BTL acquisition, subject to verifying the rent roll, leases, tenant status, expenses, condition and commercial break clauses. Do not set a maximum bid without valuation and cost evidence.

Works Required

No specific defects or required works are evidenced. Allow for normal landlord compliance, repairs and maintenance only after inspection; no numerical works allowance is supported.

Rental & Market Context

Potential BRRR Position

A refinance assessment cannot be completed because no GDV, valuation, refurbishment budget, finance terms or acquisition fees are supplied. The existing income may support refinancing subject to lender assessment and lease review.

Buy-to-Let Analysis

The property is fully tenanted with stated income of £67,302 per annum excluding VAT. At the £650,000 guide, the gross yield is approximately 10.35% before fees, maintenance, voids, management, finance and tax. Commercial leases include break clauses and one unit is holding over, creating income-security risk.

Flip Analysis

No supported GDV, refurbishment cost or selling-cost allowance is available. A flip surplus therefore cannot be calculated. The fully tenanted investment profile appears more suited to income retention than immediate resale, subject to due diligence.

Investor Risks & Due Diligence

• No independent market valuation or completed-sale comparables supplied.

• Commercial unit No. 10 is holding over under an Inside Act tenancy.

• Commercial break clauses may affect No. 14 and No. 16 income continuity.

• Stated annual rent does not exactly reconcile with the listed monthly rents.

• Buyer fees and other acquisition costs are unspecified.

• Operating expenses, maintenance, voids, management and finance costs are unspecified.

Recommendation

Income-focused BTL acquisition, subject to verifying the rent roll, leases, tenant status, expenses, condition and commercial break clauses. Do not set a maximum bid without valuation and cost evidence.

Strategy Rating

Analysis Confidence

Detailed accommodation, tenancy and rent information is supplied, but there are no comparables, valuation, operating expenses, buyer fee amount, condition survey or refurbishment costs. The stated annual rent also differs slightly from the sum of the listed monthly rents.