Colne Road, Clacton-on-Sea

A Freehold investment opportunity located in Clacton Town Centre, comprising three flats let on ASTs plus ground floor former social club. The ground floor previously had planning approved for conversion to two further flats and an office unit to front, planning reference 19/00932/FUL. The planning consent has now lapsed but we believe this could be reinstated.

Ground Floor -

Flat 4 - First Floor
One bedroom flat - 446 Sq Ft - let on an AST at £600 PCM

Flat 5 - First Floor
Two bedroom flat - 647 Sq Ft - let on an AST at £695 PCM

Flat 6 - Second Floor
Two bedroom flat with roof terrace - 688 Sq Ft - let on an AST at £775 PCM

Outside - The title includes a small forecourt to front providing potential off-road parking for 1/2 cars.

Planning - Planning was previously granted for conversion of ground floor to create one commercial unit and two additional flats under reference: 19/00932/FUL. Planning has now lapsed but we believe this could be reinstated.

Proposed accommodation -

Unit 1 - commercial unit - 679 Sq Ft - Potential rent £600 PCM
Unit 2 - two bedroom flat - 689 Sq Ft - Potential rent £750 PCM
Unit 3 - two bedroom flat - 662 Sq Ft - Potential rent £750 PCM

Potential to yield an additional £25,200 PA making a total potential yield from the building of £50,040 PA

Agents Note Sales - PLEASE NOTE - Although we have not tested any of the Gas/Electrical Fixtures & Fittings, we understand them to be in good working order, however it is up to any interested party to satisfy themselves of their condition before entering into any Legal Contract.

Aml - ANTI-MONEY LAUNDERING REGULATIONS 2017 - In order to comply with regulations, prospective purchasers will be asked to produce photographic identification and proof of residence documentation once entering into negotiations for a property.