Colchester Domino’s building up for sale for nearly ?500k | Gazette

3 North Station Road, in North Station Road, Colchester has been put up for sale for a “guide price” of £475,000 by property investment group Prideview.

The building, described as being a “3,500 sq ft restaurant site”, is currently filled by takeaway restaurant Domino’s, and is sandwiched between One Stop and Century House North.

Domino’s has occupied the site for more than a decade.

The Domino's Colchester site pictured in November 2012 (Image: Google)

The property has a “virtual freehold” tenure, meaning the lease length is far longer than a typical one.

The latest lease is for 20 years from August last year, meaning it will not expire until August 1, 2043.

The gross rent of the site is £29,000, with the gross yield at 6.1 per cent.

According to the listing, the property is situated in an “established parade in a predominantly residential area just north of the city centre”.

It also describes Colchester as a “historic” city which benefits from “good" transport links given its position at the junction of the A12, A120 and A133 and and the nearby Colchester Rail Station, which is just 800 metres away.

To view the full listing, visit prideviewgroup.com/listing/dominos-colchester/.