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Lot 5
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168 Old Road, Clacton-on-Sea, Essex, CO15 3AY

Guide price Postponed*
Tenanted commercial investment... with potential (stp)

Property Details

Description

This freehold two-storey property is situated in a good trading location close to the town centre of Clacton on Sea. The building is currently let on a new lease at £6000 PA to a food takeaway business. To the rear is a large co-op car park and vehicle access to this property’s rear yard, which provides parking for one car. The upstairs rooms are not used; however, they are included within the existing lease. We believe there may be scope for further development or extension as neighbouring properties have done within the terrace (STP). This Lot is a solid addition to any rental portfolio, with the potential of mixed-use or even conversion back to a single residential unit in the future (STP.)

Key Features

  • LONG STANDING TENANT
  • FREEHOLD
  • NEW 3 YEAR LEASE
  • POT. DEVELOPMENT
  • 1 CAR PARKING
  • PRIME TRADING LOCATION
Tenure

Freehold

EPC

TBC

Viewing

By appointment with the auctioneers

Solicitors

Mrs Amanda Johnson
Page Nelson Solicitors
Victory House
Henley Way
Doddington Road
Lincoln
LN6 3QR

Tenancy

3 Year from June 2022

Current Yield.

£1,495 per quarter / £5,980 pa

Location

168 Old Road, Clacton-on-Sea, Essex, CO15 3AY

*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.