** SOLD PRIOR TO MARKETING ** A unique investment opportunity comprising 5x three bedroom split level maisonettes being sold with a new long Lease of 250 years. 4 of the 5 properties are currently let with a potential yield at full occupancy of circa £53,000 PA.
LOCATION
The property is situated on the north side of Marlowe Road at its junction with Jaywick Lane in a predominantly residential area on the west side of Clacton-on-Sea approximately 0.5 miles to the coast with Colchester being approximately 20 miles to the North-West.
SCHEDULE OF ACCOMMODATION
3a – 3 bed maisonette – 808 Sq Ft – £750pcm
4a – 3 bed maisonette – 808 Sq Ft – Vacant (estimated £950pcm)
5a – 3 bed maisonette – 808 Sq Ft – £950pcm
6a – 3 bed maisonette – 808 Sq Ft – £900pcm
7a – 3 bed maisonette – 808 Sq Ft – £900pcm
Total current rent – £3,500pcm
Total projected rent – £4,450pcm
TENURE
Long Leasehold by way of new 250 year lease.
OUTGOINGS
Total outgoings (including ground rent, service charge & insurance) – £2,000 PA per flat
EPC
3a – D
4a – D
5a – C
6a – D
7a – D
