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A VACANT BLOCK OF 6 ONE BED STUDIO APARTMENTS IN NEED OF A FULL PROGRAMME OF RENNOVATION HELD ON REGISTERED LEASEHOLD TITLE EX744228 FOR A TERM OF 999 YEARS FROM 15th FEBRUARY 1995 THUS 970 YEARS REMAINING
The property has suffered some damage from previous occupants but is now secure and fully vacant. There is potential to repair the property and restore the 6 units which could generate an income of about £41,000p.a. representing a yield of 17% if purchased at guide, or convert into two or three flats subject to obtaining all necessary consents.
Tenure
Leasehold. 999 years from 1 January 1995
ACCOMMODATION
First Floor Flat 1: 17'6" x 12'2" (5.34m x 3.73m) + Shower Room Flat 2: 14'9" x 10'11" (4.52m x 3.34m) + Shower Room Office/Store Room Second Floor Flat 3: 18'10" x 12'10" (5.75m x 3.92m) + Shower Room Flat 4: 12'4" x 12'1" (3.76m x 3.70m) + Shower Room Third Floor Flat 5: 13'0" x 9'6" (3.98m x 2.92m) + Shower Room Flat 6: 12'7" x 11'3" (3.86m x 3.45m) + Shower Room
LOCATION
Westcliff-on-Sea is a suburb of the city of Southend-on-Sea, located within the ceremonial county of Essex. It is on the north shore of the lower Thames Estuary, about 34 miles (55 km) east of London. The property is situated on the A13 London Road with easy access to shops, bars and restaurants. Southend University is about half a mile to the north of the property .
VIEWING
Strictly by appointment with the Auctioneer
Energy Efficiency Rating (EPC)
Current Rating D
Local Authority
Southend on Sea Borough Council
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - 1.2% inc VAT of the purchase price, subject to a minimum of £1800 inc VAT, payable on exchange of contracts.
Administration Charge - 0.6% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.