Clacton-on-Sea

  • £4,200,000
Featured For Sale
Clacton-On-Sea
  • Block of Apartments
  • Property Type
Featured For Sale

Clacton-on-Sea

Clacton-On-Sea
  • £4,200,000

Overview

Property ID: HZ9886
  • Block of Apartments
  • Property Type

Description

Former office building converted into 32 self contained and separately serviced apartments currently let under Assured Short hold Tenancy Agreements ,producing an annual rental income of £334,500 (Yield 7.96%gross on current asking price ). The building consists of 2 x 3 bedroom penthouse apartments, 1 x 4 bedroom apartment, 1 x 3 bedroom apartment, 17 x 2 bedroom apartments and 11 x one bedroom apartments. All benefit from fitted kitchens and bathroom and gas central heating, communal gardens and parking for over 30 spaces to the rear of the building, which is located within walking distance of Clacton’s seafront, town centre and railway station. The building is fitted with Wi Fi to all tenants.
Schedule of Tenancy Agreements & Monthly Rents are available upon request.: Building can be brought in the current company name which we understand will reduce the stamp duty payment to 0.5%. Planning permission granted for creation of four new 3 bedroom flats to existing building. Planning number 21/02073/Ful

Agent notes

The building is being sold as an unbroken freehold.

  • Address Carnarvon Road, Clacton-on-Sea
  • City Clacton-On-Sea
  • Post Code CO15 6QB

Details

Updated on February 26, 2024 at 3:16 am
  • Property ID: HZ9886
  • Price: £4,200,000
  • Property Type: Block of Apartments
  • Property Status: For Sale

Details :

  • PORTFOLIO INVESTMENT
  • 32 APARTMENTS APPROX YIELD 7.96% GROSS PER ANNUM
  • PARKING
  • POTENTIAL FOR FURTHER EXTENSION
  • CLOSE TO TOWN CENTRE
  • CLOSE TO MAINLINE RAILWAY STATION
  • FREE WI FI TO ALL TENANTS
  • SOLE AGENTS
  • INTERNAL IMAGES ARE OF INDIVIDUAL APARTMENTS IN THE BLOCK AND ARE FOR GUILDLINE PURPOSES ONLY
  • PLANNING PERMISSION GRANTED FOR EXTENSION TO EXISTING BUILDING TO CREATE FOUR NEW 3 BEDROOM FLATS PLANNING NUMBER 21/02073/FUL

Additional details

  • Portfolio Investment
  • 32 Apartments
  • Key Fob Parking
  • Close to Town Centre
  • Close to Mainline Railway Station
  • Sole Agents
  • Planning for 3 x 3bedroom flats
  • Current yield 7.0% Gross
  • Lift to all floors
  • SOLE AGENTS !

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Updated on February 26, 2024 at 3:16 am

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