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616A London Road, Westcliff-On-Sea, Essex SS0 9HW

Sold

Lot 2

Auction Date:

14th May 2024
at 12:00 pm
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EPC Rating: D

Tenure: Leasehold

Lease Unexpired: 970 Years Remaining years

Viewing Dates

Thu 25th April 11:00 - 11:30
Wed 1st May 13:00 - 13:30
Tue 7th May 11:00 - 11:30
Sat 11th May 09:30 - 10:00
  • Open-House Viewing: Thurs 25th April - 11:00-11:30
  • Open-House Viewing: Wed 1st May - 13:00-13:30
  • Open-House Viewing: Tues 7th May - 11:00-11:30
  • Open-House Viewing: Sat 11th May - 09:30-10:00

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

Additional Fees

Administration Fee
0.6% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.
Buyer's Premium
1.2% inc VAT of the purchase price, subject to a minimum of £1800 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.

13/15 Ripple Road, Barking, East London. IG11 7NN

0203 174 0330

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616A London Road, Westcliff-On-Sea