Block of flats for sale in St. Johns Road, Clacton-On-Sea CO16

For sale - 3 residential apartments, 2 let on AST's, 1 vacant, producing an income of £19,200 pa, with an estimated rent of £30,100 pa

Location
The property is located on the corner of St John’s Road and Cloes Lane. St Johns Road is one of the main arterial routes in and out of Clacton-on-Sea, giving the location access into the town centre and out into wider Essex. Locally, the area is predominately residential, with commercial spaces dotted along St Johns Road.

Description
There are 3x2 bedroom apartments, two are let on AST’s whilst one is currently vacant. Access to the flats is via the rear of the property, with external stairs leading up to the first floor.

Price Offers in the region of £260,000 for the long leasehold interest. This represents a low capital value of £126.39 psf, which is less than replacement cost.

The purchaser may qualify for multi-unit relief on stamp duty. They should rely on their own enquiries in this regard.

VAT The premises are not elected for VAT
EPC Rating tbc
Tenure A new 999 year long leasehold at a peppercorn ground rent.
Anti money laundering procedures In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 the Purchaser will be required to comply with our Anti Money Laundering policy. Further details on request.