Old Pier Street, Walton On The Naze

Boydens are pleased to offer by modern online auction this mixed commercial/residential investment opportunity. The property, occupying a corner position in the heart of Walton on the Naze, comprises of a ground floor commercial premises boasting a large shop space with double aspect windows, office room, cloakroom, a multi use basement and store room and on the first floor is a self contained two/three bedroom flat benefitting from it's own roof terrace. With a potential yield of 8%+, this is could be an investment not to be missed.

ACCOMMODATION:

SHOP:-

Shop Area 1 - 29'3 x 20'6 max narrowing to 16'7
Shop Area 2 - 18'2 narrowing to 4'4 x 29'7
Office Area - 20'5 x 10'3
Cloakroom
Basement - 35'5 max x 26' max
Stock Room - 22'2 max x 13'10

FLAT:-

Private entrance from Newgate Street to spiral staircase up to roof terrace and entrance door to flat
Hallway
Lounge/Bedroom - 18'1 x 13'4
Bedroom 2 - 18'1 x 12'2
Bedroom 3 - 10'3 max x 8'5 max
Bathroom
Kitchen/Lounge - 28'8 max x 13'8 narrowing to 6'

PARKING TYPE – NO PARKING, ON STREET

UTILITIES:

Electric Heating & Gas Central Heating
Mains Electric
Mains Water
Mains Sewerage

Local Authority – Tendring District Council, Council Tax for flat- Band A

Construction Type – Brick built

Property Accessibility – steps up to shop. Spiral Staircase up to Flat. Steps up to flat door

Broadband Availability - Superfast Broadband Available with speeds up to 80mbps (details obtained from Ofcom Mobile and Broadband Checker) - January 2024.

Mobile Coverage - It is understood that the best available mobile service in the area is provided by EE, Vodafone, Three & O2 (details obtained from Ofcom Mobile and Broadband Checker) - January 2024.

Flood Risk - Data Taken from Gov.UK Flood Map.
The property is located in flood zone 1 which means it has a low probability of flooding from rivers and the sea - Checked January 2024

Planning Applications in the Immediate Locality - We are not aware of any planning applications in the immediate locality - Checked January 2024

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

MONEY LAUNDERING REGULATIONS - Please be advised that all purchasers will need to adhere to currents laws of money laundering and therefore will need to provide Boydens Estate Agents photographic identification and proof of residency identification before any transaction is started to comply with the legislation.