For Sale By Auction | 19:00, 17 December 2019 | Lot 4

2 Edith Road, Clacton-On-Sea, Essex, CO15 1JU

*Guide | £650,000 (plus fees)

  • Semi-Detached House
  • 17 Bedrooms
  • Tenure: Freehold

Call the team on 01702 33 33 99 for more information

Auction Date

Tue 17/12/2019

Auction Time

19:00

Auction Venue

Crondon Park Golf & Country Club Stock Road, Stock, Ingatestone, CM4 9DP

OF INTEREST TO INVESTORS WILL BE THIS 17 ROOM PROPERTY WHICH WHEN FULLY LET PRODUCES AN INCOME OF APPROXIMATELY £10,500 PER MONTH, A YIELD OF OVER 18% IF PURCHASED AT GUIDE PRICE

A Freehold property within close proximity of Clacton seafront. The property has recently been converted and extended to create serviced accommodation. There are 5 self contained apartments and 12 double rooms with en-suite shower rooms. The property is being let to both short stay and longer term occupants and produces a monthly gross income of approximately £10,500

Tenure

Freehold

ACCOMMODATION

4 x Self contained studio flats with fitted kitchens and shower rooms 1 x Ground floor one bedroom flat with doors to courtyard 12 x Double rooms with en-suite shower rooms

EXTERIOR

Driveway and rear courtyard

RENT RESERVED

For further details relating to the current income please refer to the legal pack.

NOTE

We are advised that 14 of the 17 rooms are being let on a monthly rate and 3 are being let on a nightly rate. Obviously if more rooms were to be let on a nightly rate then the potential income could be higher.

VIEWING

Strictly by appointment with the Auctioneers and at the courstesy of the tenants - Tel: 01206 589280

Energy Efficiency Rating (EPC)

Current Rating E

Local Authority

Tendring District Council

Additional Fees

Buyer's Premium - £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.