88 High Street, Walton on the Naze, Essex CO14 8AD

*** FOR SALE BY LIVESTREAM AUCTION TUESDAY 16TH JULY 2024 ***
FOR MORE INFORMATION OR TO REGISTER TO BID PLEASE CONTACT THE AUCTIONEER

A MIXED USE TERRACED PROPERTY COMPRISING OF A COMMERCIAL GROUND FLOOR UNIT, CURRENTLY TRADING AS AN ESTABLISHED BARBERS, AND A VACANT ONE BEDROOM FIRST FLOOR FLAT WITH VIEWS OF THE SEA, LOCATED IN A PROMINENT POSITION ON THE HIGH STREET OF POPULAR WALTON ON THE NAZE SEASIDE TOWN

Situated in the popular seaside town this property would be of interest to property professionals and landlords alike. The Barber shop has recently been re decorated to a high standard. The one bedroom flat above requires refurbishment.
When fully let, the property would produce £12,000 per annum which is a 8% yield if bought at guide price. It is currently producing £5,400 from the commercial business. (The current tenant has a newly extended tenancy for 5 years)

ACCOMMODATION GROUND FLOOR

Main room Barbers facility
Room two wash basin facility
Room Three cloakroom area
Room Four W/C and wash basin

There is a back entrance leading to a courtyard and entrance to the first floor flat

FIRST FLOOR
Lounge/Kitchenette: 15’10” x 9’09” (4.82m x 2.97m)
Bedroom: 14’01” x 8’00” (4.29m x 2.43m)
Bathroom: 7’04” x 4’07” (2.23m x 1.39m)
EXTERIOR The front of the property is situated immediately on the high street with access to the Barbers. The rear of the property has an enclosed small concrete back area with access directly to a public carpark via a gate on the property boundary
LOCATION Walton-on-the-Naze is a seaside town on the North Sea coast. It is part of the parish of Frinton and Walton, in the Tendring district in Essex. The town is located north of Clacton and south of the port of Harwich, Frinton-on-Sea lies to the south of the town. Originally, Walton was a farming village situated miles inland.
The property is situated in the Town Centre with shops, bars and restaurants and boasts a beautiful sea view from the first floor accommodation

Tenure: See Legal Pack

EPC Rating: C

Administration Fee: 0.6% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee: 1.2% inc VAT of the purchase price, payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.