Colchester bank building on sale as part of multi-million pound auction

The Halifax bank building on Head Street in Colchester

The Halifax bank building on Head Street in Colchester - Credit: Archant

A Colchester high street bank building valued at around £3.45 million is due to be brought to the commercial property market next month as part of a multi-million-pound UK-wide auction.

The Halifax branch, located on Head Street, will remain open for business as usual following the sale, which is due to take place on November 15 and 16, and is being managed by online property auction specialists John Pye Property.

The branch is one of seven Halifax branches being sold on behalf of LPA Receivers valued at £20 million in total. Other locations include Brighton, Chelmsford, Darlington, Liverpool, Mansfield and Reading.

Richard Reed, head of property at John Pye Property, said: “This is a unique investment opportunity for this area and we expect to see massive interest from national and overseas investors. Along with the other branches, this is a significant portfolio.”