2 bedroom ground maisonette for saleKey Road, Clacton-on-Sea, Essex, CO15 3DB
Guide Price* £80,000
- By appointment with the Auctioneers
FOR SALE BY PUBLIC AUCTION Holiday Inn Hotel, London Southend Airport, Southend-on-Sea, Essex SS2 6XG Wednesday 7th December at 2pm
INVESTMENT OPPORTUNITY: A LEASEHOLD TWO BEDROOM GROUND FLOOR MAISONETTE CURRENTLY LET ON AN ASSURED SHORTHOLD TENANCY AGREEMENT
Located on an established non-estate position close to the Clacton on Sea town centre is this two bedroom maisonette with off street parking and its own private rear garden. It is considered that the property makes an ideal buy to let investment offering an 8.7% return of the guide price. There is an opportunity to extend the Lease to 999 Years or to purchase the Freehold.
Lounge - 11'5 x 11'4
Kitchen - 11'3 x 9'1
Bedroom One - 11'4 x 7'6
Bedroom Two - 11'5 x 6'10
The property is currently let on an Assured Shorthold Tenancy Agreement producing an annual income of £6,960.
The property is subject to a lease of 99 years from the date of 25th December 1988 with 72 years remaining. We have been informed by the Freeholder that an extension to 999 Years would cost around £8,000 and to purchase the Freehold of the property would cost around £15,000.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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