Lot O6 - 2/6a St. Johns Road, Clacton-on-Sea, Great Clacton, Essex, CO15 4BP

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £230,000

Attractive Freehold Grade II Listed Mixed Use Investment

  • Comprising two shops, an office, warehouse and two flats
  • One shop and an office are vacant
  • Prominent corner position close to the junction with North Road (B1369), an established local trading location
  • No VAT applicable

Tenure

Freehold

Location

The property is situated on the North side of St. John's Road (B1027) in-between it's junctions with Old Road and North Road (B1369), in an established local trading location. The Public Elm Grove Car Park is situated around 180 meters to the West of the property.
Occupiers close by include Morrisons, Boots, McColl's and Post Office amongst a range of local occupiers.

Description

The Grade II listed property is arranged on ground and two upper floors to provide two ground floor shops, a ground floor office and warehouse to the side of the property with two self-contained flats above. The flats are accessed from the rear of the property.

VAT

VAT is not applicable to this lot.

To View

There will be a single block viewing held prior to the auction. If you would like to attend you must register with us in advance no later than 12 noon on Tuesday 11th September.

Please email amy.heuch@allsop.co.uk with the name and mobile number of each party wishing to attend. Photographic ID will be required on the day. In the subject box of your email please enter Lot O6 Great Clacton.

Current Rent

Total Current Rents Reserved £25,500 p.a.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale.


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* Reserve not to exceed:
£230,000
Gross initial yield:
11.1% plus a vacant shop and office
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
2-4 Vacant Ground Floor Office (1) 93.7 sq m (1,009 sq ft)
2B Individual First and Second Floor Maisonette Comprising 3 Rooms, Kitchen and Bathroom (2) Assured Shorthold Tenancy from 04.04.2017 (3) £7,500 p.a. Holding over
4a Individuals First and Second Floor Maisonette Comprising 5 Rooms, Kitchen and Bathroom (2) Assured Shorthold Tenancy from 01.07.2016 (4) £8,400 p.a. Holding over
6 Vacant Gross Frontage
Net Frontage
Shop Depth
Ground Floor
First Floor (1)
6.05 m
5.45 m
8.75 m
74.90 sq m
21.80 sq m
(19' 8")
(17' 9")
(28' 7")
(806 sq ft)
(235 sq ft)
6a T H Williamson Gross Frontage
Net Frontage
Shop and Built Depth
Ground Floor
3.55 m
2.55 m
14.75 m
42.60 sq m
(11' 6")
(8' 4")
(48' 4")
(459 sq ft)
3 years from 31.08.2007 £4,800 p.a. Holding over
Warehouse T H Williamson Ground Floor 86.50 sq m (931 sq ft) 3 years from 31.08.2007 £4,800 p.a. Holding Over
Total £25,500 p.a.
(1) Not measured by Allsop. Floor area sourced from www.voa.gov.uk
(2) Not inspected by Allsop. Accommodation details provided by tenants on site
(3) £625 surety held
(4) £700 surety held
  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.