*** INVESTMENT OPPORTUNITY *** – ***7 SELF-CONTAINED APARTMENTS*** –
***FULLY LET RESIDENTIAL INVESTMENT FREEHOLD YEILDING £39,540 PAX***
Clacton on Sea is the largest town on the Tendring Peninsular and is situated at the end of the A133 Trunk Road which provides excellent access to the town centre. In addition, there is convenient access to the A120 trunk road which provides access east to the Haven Port of Harwich. Clacton is noted for its Sea Front; the Esplanade is dominated by a substantial Pier which is a large tourist attraction. The town is served by regular bus services to Clacton and Frinton on Sea and there is a main line railway station providing access to the London Liverpool Street (journey time approximately 1 hour 30 minutes). The station lies more or less 500 metres away from the subject property.
The property is situated within close proximity and east of the town centre where there is a huge variety of shopping, restaurant and tourist facilities. This factor is particularly relevant to the desirability and lettability of the residential flats.
Built in the early 1900's a substantial semi-detached, three-storey property, converted and extended to the rear providing 7 self-contained flats configured as two x 2 Bedroom flats, four x 1 Bedroom flats and one x Studio apartment. Two flats are accessed directly off the side passage, the remainder via a communal front entrance. The construction is of traditional brick with part rendered elevations part replacement uPVC double glazed windows and part timber framed single glazed beneath a pitched and tiled roof. ACCOMMODATION
Flat No Level/Floor Area Sq Ft Beds Baths Balcony
Flat 1 Ground 471 2 1 0
Flat 2 Ground 302 1 1 0
Flat 3 First 445 2 1 1
Flat 4 First 535 1 1 0
Flat 5 Second 532 1 1 0
Flat 6 Second 456 1 1 1 TENANCIES
The flats are let on six-month ASTs some of which are now periodic. We are advised by the Landlord that all rents include water and the rent for Flat 3 is inclusive of electricity.
Flat No Status Current Rent Per Annum Lease Type
1 Let £6,000 AST
2 Let £4,800 AST
3 Let £7,140 (Includes electricity) AST
4 Let £5,700 AST
5 Let £5,700 AST
6 Let £5,700 AST
7 Let £4,200 AST
We are instructed to seek Offers of £450,000 subject to contract for the Freehold Title EX529944. VIEWINGS
Strictly by prior appointment with the sole Agents Nicholas Percival Chartered Surveyors on 01206 563222 or e-mail email@example.com