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Retail (let to Oxfam) and ground rent investment in Frinton-on-Sea.

  • Lock-up retail unit, with two flats above (sold off).
  • Prominently located in Frinton’s main shopping street.
  • Retail area 881 sq. ft. (81.8 sq. m).
  • Lease to Oxfam renewed in March 2018.
  • No VAT on purchase price.
  • Gross rent £15,200 per year (from March 2019).


Property Location

43, Connaught Avenue,
Essex CO13 9PN.
Property Specification

The property is situated within the established and popular Connaught Avenue, the main shopping street in Frinton-on-Sea. The street has a mix of multiple retailers and local independent traders, as well as Banks and restaurants.


A four-storey property with a lock-up shop on the ground floor, a two-bedroomed flat (43a) on the first floor and a three-bedroomed flat (43b) on the second/third floors. There is a staircase to the rear of the proeprty giving access to both flats, and 43a also has it's own staircase directly off Connaught Avenue. There is rear access from a service road off Old Road, and car parking is available on Connaught Avenue and the surrounding streets.


Shop Frontage              15/4.

Shop Depth                   48/10.

To the rear is a staff kitchen and toilet.

NET RETAIL AREA 881 SQ. FT. (81.8 SQ. M)

Flats - not inspected.

Lease Terms

The property is let under the following leases:

43, Connaught Avenue (shop) - term of 10 years from 30th March 2018, under effectively full repairing and insuring terms via a service charge. The rent is £13,500 a year increasing to £15,000 from 30th March 2019, payable quarterly in advance. There is an upward-only rent review on 30th March 2023, and tenant-only options to break on 30th March 2021 and 2023, subject to six months'  prior written notice. If the tenant exercises the first break in 2021, then it will pay a "penalty" of £3,750.

43a, Connaught Avenue - two-bedroomed flat, sold off on long lease expiring on 24th January 2178, fixed ground rent of £100 a year.

43b, Connaught Avenue - three-bedroomed flat, terms as for 43a above.


We understand that the property has the following EPC ratings - 43 (shop) - D99, 42a (flat) - D58 and 43b (flat) - D55.

Local Taxation

The shop appears in the 2017 Rating List as Shop and Premises with a rateable value of £13,000 and both flats are shown in Council Tax Band B.


Offers in the order of £225,000 are invited for the freehold of the property, subject to the current leases. We understand that there is no VAT on this sale. The asking price represents a gross yield of 6.75% once the shop retn is £15,000.

Further Information

For further information on this property, please contact the sole agent, Jon Ablewhite ( at Morley Riches & Ablewhite, on (01206) 505707.

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Our Services

Clients choose to work with our friendly, professional team time and time again because we consistently deliver a quality service that makes their lives easier. Our plain-speaking approach ensures everyone is kept on the same page and that a project can move forward in a timely and cost-effective way.


Commercial Estate Agency


Property Management


Property Valuation

Landlord and Tenant

Building Surveying

Development Consultancy

What people say about working with us

  • "Jon Ablewhite of Morley, Riches and Ablewhite has provided professional services to my company for many years. This has included sales, purchasing and renting of office properties in and around Colchester. He has been very professional and thorough, combining this with an understanding of the needs of a business client such as ourselves. Together with Peter Riches, he forms a very strong and likeable team."
    Russell Sainty, Seaford Properties Limited
  • "Morley, Riches & Ablewhite – forgettable name, but seriously unforgettable service! We engaged MRA about 3 years’ ago on recommendation.  We have never regretted it. Good, practical advice on all property aspects, including new leases, professional discussions with existing Landlords and advice generally. At all times the service has been prompt, professional and cost-effective.  Communication skills are first rate and we have confidence in the calibre of MRA’s team and their ability to provide commercial insight and evolve innovative win / win solutions."
    John May, Director, Thompson & Morgan Group Holdings Limited
  • "Being a local business in Colchester, we seek to establish relationships with local professionals in certain key areas of business. Morley Riches and Ablewhite are a professional friend of Handelsbanken and  understood from a very early stage what we were looking for from their reports. They  have been extremely prompt in their delivery  of valuations and more than happy to discuss all aspects of the property market within our catchment area, which we find very valuable.  Overall a pleasure to deal with."
    Russell Felstead, Handelsbanken
  • "We have acted alongside Peter Riches of Morley Riches and Ablewhite for a number of years for a mutual client which is a major national landowner. Peter is sharp and incisive and a pleasure to deal with and we value the expertise and commitment he brings to transactions. We look forward to continuing to work with Morley Riches and Ablewhite in the future."
    Anthony Alderman, Partner of Bond Dickinson LLP
  • "I have worked with Morley Riches and Ablewhite for several years. I have always found them to be trustworthy, professional, responsive and accurate while offering a flexible approach to problem solving. They provide excellent value for money and also deliver additional value through their thorough knowledge and network. Reputation and branding are important to any business so it’s important to select organisations who have a compatible constitution and culture. MRA demonstrate empathy with corporate objectives, they manage customer relationships effectively and efficiently and work seamlessly as part of a team. I would recommend them to anyone who needs a professional property service."
    Steve Heywood, Hills Building Group
  • "Griffin Chapman has a long-standing relationship with Morley Riches & Ablewhite. Our experience is that they are highly professional, efficient and proactive. We have been pleased to recommend a number of our clients to Morley Riches & Ablewhite for assistance in property matters. The feedback that we have received has been highly positive. We have also been pleased to co-sponsor a number of successful corporate events with Morley Riches & Ablewhite over recent years."
    Griffin Chapman, Chartered Accountants
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