COVID-19 – Important Auction Information
For Sale By Auction | 14:00, 09 June 2020

Nelsons Gate (Flats 1-5), 217A North Road, Westcliff-On-Sea, Essex, SS0 7AF

*Guide | £675,000 (plus fees)

  • Block of Apartments
  • 10 Bedrooms
  • Tenure: Leasehold. Comes with 50% Share of Freehold

Call the team on 01702 33 33 99 for more information

Auction Date

Tue 09/06/2020

Auction Time

14:00

Auction Venue

AHE LIVE STREAMED Hillsboro', 377 Southchurch Road, Southend on Sea, Essex, SS1 2PQ

AN INVESTEMENT OPPORTUNITY TO BUY 5 X 2 BEDROOM FLATS LET ON A 15 YEAR RENTAL WITH 50% OF THE FREEHOLD

All of the flats are let to South East & Central Essex MIND on new 15 year agreements generating £36,000pa which is a yield of 5.3% if bought at Guide Price

Tenure

Leasehold. Comes with 50% Share of Freehold

EXTERIOR

Situated on a site of approximately 1/4 Acre there are two apartment blocks in a gated secure location with off street parking and a private garden area.

CONDITION

The property was built circa 2010 and has been used by SECE MIND since 2016, the flats are in a good state of repair although some minor works have been identified as outstanding

TENURE

All of the flats are currently rented to SECE MIND who own the block with the 5 x 2 Bedroom Flats and 50% of the Freehold, the other block of 4 x 1 Bed Flats and remaining 50% of the Freehold are owned independently (may be available by separate negotiation).

NOTES

DECLARATION OF INTEREST:- A DIRECTOR OF AUCTION HOUSE ESSEX IS ALSO A TRUSTEE & DIRECTOR OF SOUTH EAST & CENTRAL ESSEX MIND

VIEWING

COVID-19 The Property is occupied by vulnerable adults and as a result we can organize external viewings only, telephone the auctioneer on 01702 333 399

Local Authority

Southend on Sea Borough Council

Additional Fees

Administration Charge - 1.2% 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.