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Lot 15
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108 Old Road, Clacton-on-Sea, Essex, CO15 3AA

Sold for £217,000
Freehold mixed-stock investment... leased shop and 3 vacant flats

Property Details

Description

Located in Clacton-on-Sea, this freehold mixed-use property presents a prime investment opportunity. It features a leased retail shop at the front and three one-bedroom flats, with one flat conveniently situated on the ground floor behind the shop and the other two located upstairs. All three flats are vacant, but once fully occupied, the property is expected to yield well due to its prominent position. The property benefits from rear access, which serves the two rears flats, enhancing privacy and ease of entry for tenants. Its strategic location and versatile layout make it highly appealing for investors aiming to capitalise on the area’s robust rental market. This is a great opportunity to own a property with potential for strong returns in a sought-after area.

Key Features

  • CLACTON-ON-SEA
  • MIXED-USE PROPERTY
  • RETAIL SHOP & 3 FLATS
  • HIGH RENTAL DEMAND
  • HIGH STREET POSITION
  • REAR ACCESS
  • VERSATILE LAYOUT
  • STRONG RETURNS
Tenure

Freehold

EPC

C, D, F

Viewing

By appointment with the Auctioneer

Solicitors

Mr Mehmet Duzgun
Kerseys Solicitors
32 Lloyds Avenue
Ipswich
IP1 3HD

Tenancy

Shop - 10 year Lease holding over

Current Yield.

Shop - £800 pcm / £9,600 pa
Flat 1 - vacant
Flat 2 - vacant
Flat 3 - vacant

Location

108 Old Road, Clacton-on-Sea, Essex, CO15 3AA

*Guide prices are provided as an indication of a vendor’s minimum expectation and the level at which the reserve is set. Properties may not always sell within this guide and this figure may change at any time prior to the auction. The sale price will be dependent upon bidding in the auction room and on the Vendors’ instructions.

Reserve Price Each property will be sold subject to a reserve price, which will be set within, or below, the guide price range or no more than 10% above a single figure guide. This is a confidential figure set between the Vendor and the Auctioneer and is a figure below which the Auctioneer cannot sell the property.

Additional Fees All buyers are liable to pay an Administration Charge of £1,200 inclusive of VAT. Other fees disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.