73-75 High Street, CLACTON-ON-SEA, Essex, CO15 6PW

01206 577667 | info@whybrow.net | whybrow.net | @whybrowproperty

DETACHED RESIDENTIAL FLATS INVESTMENT FOR SALE

Investment Details

8 Self-Contained Flats

Prominent Town Centre Location

Eight On Site Car Parking Spaces

Potential Rental Income £57,300 Per AnnumExclusive

Self Contained Site

Recent permission for Flat 8 granted.

Communal Hallway Rear Entrance To The PropertyForecourt Parking area

Location & Description

Clacton-on-Sea is a major coastal resort with a residentpopulation of 50,000, a population that increasessignificantly during the busy summer months.The town centre contains a range of major multiplesaround Pier Avenue with various secondary shoppingareas off this in Station Road, Rosemary Road and HighStreet. The subject property is situated some half amile north of the town centre on the High Street at itsjunction with Chapman Road, a predominantlyresidential area.

The subject property comprises a block of self-contained flats on ground and first floors in a buildingof brick construction with pebble dashed renderingbeneath a pitched tiled and part flat roof.The building is set within landscaped grounds with apaved courtyard providing parking for 8 vehicles.Each of the flats provides self-containedaccommodation with well-maintained common parts,each flat benefitting from a kitchen, bathroom withpanelled bath, WC and wash hand basin, lounge andone to three bedrooms.

Accommodation

Accommodation Dimensions

Flat 1Bedroom 1Bedroom 2LoungeKitchenBathroom

2.97 x 42.9 x 3.154.38 x 4.62.18 x 2.051.8 x 2.9

Flat 2Bedroom 1Bedroom 2Bedroom 3LoungeKitchenBathroom

3.47 x 22.38 x 3.462.9 x 4.14.12 x 3.431.88 x 2.282.1 x 1.9

Flat 3Bedroom 1Bedroom 2LoungeKitchenBathroom

3.5 x 2.94.1 x 2.93.36 x 2.962.14 x 2.62N/A

Flat 4Bedroom 1Bedroom 2LoungeKitchenBathroom

2.48 x 2.762.55 x 4.34.17 x 3.52.66 x 2.372.25 x 1.7

According to our calculations, the property has the following Dimensions:

Accommodation Dimensions

Flat 5Access not provided.

Flat 6Access not provided.

Flat 7Bedroom 1Bedroom 2LoungeKitchenBathroom

3.48 x 2.652.43 x 2.752.7 x 4.462.28 x 3.91.6 x 1.9

Flat 8Access not provided. (measurements wereundertaken externally)

8.53 x 2.7 (GEA)

Tenancies

The property is let on Assured Shorthold Tenancies on each flatas follows:

Flat Expiry Date Rent (PCM) Bedrooms

Flat 1 15/4/16 £600 2

Flat 2 12/6/16 £700 3

Flat 3 17/5/17 £595 2

Flat 4 29/9/14 £625 2

Flat 5 28/4/17 £625 2

Flat 6 26/4/17 £550 1

Flat 7 24/2/17 £600 2

Flat 8 Vacant £480 Bedsit

Potential Rental Income £4,775pcm (£57,300pa)NB- this assumes that Flat 8 is let at the rent shown.

ServicesWe are advised that the property benefits from MainsWater, Drainage & Electricity.

VATValue Added Tax (VAT) will be chargeable on this sale atthe prevailing rate.

Legal FeesAll parties are to be solely responsible for their own legalcosts incurred throughout any transaction.

Energy Performance CertificateThe property is to be assessed.

Terms

The investment is offered by way of a Sale at an asking price of £725,000 (Seven Hundred and Twenty Five ThousandPounds), reflecting a Net Initial Yield of 7.4% having regard to a purchaser costs, once the property is fully let.

Viewings

Viewings are available strictly by prior appointment with Whybrow, or their joint agents Fenn Wright(Ref-JG). Please contact the below to arrange a viewing or for further information:

Ewan Dodds BSc FRICST: 01206 577677M: 07957 862773E: ewan.dodds@whybrow.net

For additional details, please visit our website as below.