Flat for sale in 616A London Road, Westcliff-On-Sea, Essex SS0
* Calls to this number will be recorded for quality, compliance and training purposes.
Property description
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.
For more information about this property, please contact
Auction House Essex, SS1 on +44 1702 787773 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Auction House Essex, and do not constitute property particulars. Please contact Auction House Essex for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.