*FOR SALE BY PUBLIC AUCTION WEDNESDAY 20th JULY AT 2PM. LIVE STREAMED VIA DEDMAN GRAY WEBSITE. BIDDING AVAILABLE BY TELEPHONE, PROXY AND ONLINE.* A unique opportunity has presented itself to acquire this iconic building in the heart of Colchester Town Centre and in arguably it’s most prestigious road, surrounded by boutique shops, cafés, bars and restaurants. Originally built in the 1950’s as the town’s cinema and in a stunning Art Deco design, the property has sadly been empty and disused for over 15 years now, with many parties attempting to alter the use unsuccessfully. Though the most recent granted full planning permission has now lapsed, this landmark building still offers an excellent opportunity to redevelop the site into luxury apartments and high specification retail units, with prime street-front locations.
The lapsed planning permission comprises of 46 luxury apartments and two ground floor retails units, retaining and converting the buildings façade and utilising the remaining space to the rear to newly construct the remainder (and majority) of the development. Full information can be found on Colchester Borough Council's planning portal using reference 151004.
Furthermore, an appeal has recently been lodged for the demolition of the entire existing structure and re-build to create 48 apartments and two/three retail units, re-creating the façade in almost identical fashion. The planning portal reference for this is 202738.
The property is being sold BY WAY OF AUCTION ON 20TH JULY 2022 in partnership with Deadman Gray with full vacant possession, please contact us to register your interest and/or request the full legal pack -
All enquiries should be made strictly via Company Directors Michael Simpson or Michael Rayner.
We estimate a total GDV for the lapsed scheme at approximately £12.7m. For further and a breakdown of values please contact the us or refer to the legal pack.