Clacton-on-Sea, CO15 1TT | Investment Property for Sale | VES-CO15-001

Opportunity to purchase a 8-unit block in Clacton-on-Sea which has generated a gross yield of 7.3%

£695,000

8-unit Block

VES-CO15-001

INITIAL INVESTMENT

£204,100

Based on

deposit: £173,750

stamp duty: £20,850

mortgage fees: £1,500

conveyancing fees: £8,000

GROSS RENT

£50,700

GROSS YIELD

7.3%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

8

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,971

PRICE SQ FT

£353

Block information

  • Spread over 2 floors
  • The block is made up of:
    • 3 x studio apartments
    • 5 x 1-bed apartments
  • It comes with communal parking at the front of the property
  • There is also a communal garden at the rear
  • EPC ratings: C & D
  • Council tax band: A

Rental information

  • All units are fully let
  • Aggregate monthly rental income: £4,225
  • Aggregate annual rental income: £50,700
  • All tenants are council tenants on universal credit. The vendor believes rents could be as high as £600 pcm/per unit on the private rental market.

Location information

  • The property is located just outside the town centre of Clacton-on-Sea
  • Clacton-on-Sea railway station is a short walk from the property
  • The local high street and amenities are only a few minutes' walk away
  • Easy access to the A133

Available upon request

  • Block breakdown
  • Full floorplan
  • EPCs for all units

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Clacton-on-Sea, Essex

Clacton-on-Sea is a seaside town in Essex on the Tendring Peninsula. It lies around 77 miles north-east of Central London, 40 miles from Chelmsford, 58 miles from Southend-on-Seea, 16 miles from Colchester Town and 16 miles from Harwich. The A133 road terminates at Clacton and connects it with Colchester.

Clacton-on-Sea railway station is on the Sunshine Coast Line and regular train services run to London Liverpool Street via Colchester and Chelmsford.

Some of the best places to see are West Beach, Martello Bay, Jaywick Martello Tower, the pleasure pier and the arcades. In nearby St Osyth sports lovers can try out wakeboarding, kayaking, paddleboarding at Curve Water Sports.

Clacton’s high street offers the usual well-known national chains as well as a number of independent stores. Just on the outside of town is Clacton Shopping Village which features retailers offering their wares at discounted prices.

Education is provided by two secondary schools, the St Osyth’s Teacher Training College and Adult Community Learning.

The local economy is tied to the entertainment industry and day-trip trippers and also has a strong service sector. In the north-west of the town are two business/industrial parks, whilst further afield agriculture and jobs at the Port of Harwich provide further employment.

Hayes Road,

Clacton-on-Sea,

Essex,

England,

CO15 1TT

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All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

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