Details

* THIS IS AN OFF MARKET INVESTOR PROPERTY ONLY * Please see terms below.

Boydens are pleased to offer this off market freehold opportunity for a mixed commercial/residential property consisting of a ground floor shop and two bedroom first floor flat situated in Old Road, Clacton on Sea. Old Road is bustling with local cafes, shops and supermarkets and is located on the outskirts of the town centre providing easy access to the seafront and train station.

The shop is currently operating as a tattoo/barber shop and is fixed into a lease until August 2026 paying a rent of £500pcm.

The two bedroom first floor flat is presented in a modern condition and currently has a tenant in a fixed 12 month AST until March 2025 paying a rent of £800pcm.

The property also has the freehold over the attached ground floor flat.

Yields:

At the current rental prices combined of £15,600 per annum, this property would generate a yield of 8.9% if purchased at £175,000.

This investment opportunity is ideal for those looking to expand their portfolio with a property in a convenient location, offering a good yield and a stable tenancy/lease.

Important Information:

Purchase of this property is subject to a buyer's premium of 2% of the sale price, plus VAT.
There is an obligation to retain Boydens' management services for two years from the completion date.
Please enquire with the office if you are not signed up to our Off Market Investor Service.

ACCOMMODATION:

Shop:-

SHOP FRONT - 14'5 x 14'1
SHOP REAR - 20' x 8'8
WC FACILITIES

Flat:-

ENTRANCE HALL TO STAIRS & LANDING
LIVING ROOM: 14'5 x 10'10
KITCHEN: 12'5 x 8'4
BEDROOM ONE: 10' x 7'10
BEDROOM TWO: 8'9 x 8'
SHOWER ROOM

PARKING TYPE – NO PARKING, ON STREET

UTILITIES:

Gas Central Heating (Flat), Electric heating (Shop)
Mains Electric
Mains Water
Mains Sewerage

Local Authority – Tendring District Council

Construction Type – Brick built

Property Accessibility – stairs to first floor flat

Broadband Availability - Superfast Broadband Available with speeds up to 80mbps (details obtained from Ofcom Mobile and Broadband Checker) - July 2024. https://checker.ofcom.org.uk/

Mobile Coverage – Based on the details obtained from Ofcom Mobile and Broadband Checker, the availability of mobile service is: EE (Voice - Limited, Data - Limited), O2 (Voice - Likely, Data - Likely), Vodafone (Voice - Likely, Data - Likely) & 3 (Voice - Limited, Data - Limited) – July 2024. https://checker.ofcom.org.uk/

Flood Risk - Data Taken from Gov.UK Flood Map.
The property is located in flood zone 1 which means the area has a low probability of flooding from rivers and the sea or surface water - Checked July 2024 https://www.gov.uk/check-long-term-flood-risk

Planning Applications in the Immediate Locality - We are not aware of any planning applications in the immediate locality - Checked July 2024

MONEY LAUNDERING REGULATIONS - Please be advised that all purchasers will need to adhere to currents laws of money laundering and therefore will need to provide Boydens Estate Agents photographic identification and proof of residency identification before any transaction is started to comply with the legislation