Flat for sale in 616A London Road, Westcliff-On-Sea, Essex SS0

For sale by auction on Tuesday, 14 May 2024 at 12:00

Venue: Live stream, www.AuctionHouse.Online

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.

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

EPC Rating: D

Viewings
25 Apr 2024 11:00-11:30
01 May 2024 13:00-13:30
07 May 2024 11:00-11:30
11 May 2024 09:30-10:00

Additional Fees
Buyers 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.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.