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    Key features

    • To be offered on Wednesday 29 July
    • High Yielding Mixed-Use Investment
    • Large Social Club Unit and Retail Unit
    • Social Club Let - 10 Year Lease Expiring 31.12.2031
    • Retail Unit Vacant - Asset Management Potential Via Letting
    • ERV Approx. £35,000 per annum
    • Prominent Pitch Adjacent to Clacton Station
    • Investment Let at £26,340 p.a. (11.7% GIY on Guide Price)
    • ERV Reflects 15% Gross Yield on Guide Price

    Description

    The property comprises a high yielding mixed use investment opportunity with evident asset management potential.

    Arranged as a roadside site with a retail unit to the front and large social club unit to the rear, the property is currently part-let and producing £26,340 per annum.

    The social club is let to private individuals on a 10 year lease expiring 31.12.2031 and paying £26,340 per annum.

    The retail unit is currently vacant and we consider the property offers immediate asset management potential via letting of this space, with an estimated rental value (ERV) of £35,000 per annum for the whole property when fully let.

    The property occupies a prominent position fronting Carnarvon Road and adjacent to the rail station. Carnarvon Road is the principal route connecting Clacton on Sea station to the seafront.

    Additional information

    Tenure

    Leasehold - Approx. 143 Years Unexpired - Please Refer to Legal Pack

    Rent

    £26,340 per annum

    Notes

    Please note any areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been inspected by Savills. Prospective purchasers must rely upon their own enquiries. Please refer to the legal pack. 

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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