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9 bedroom mixed use for sale

High Street, Maldon, Essex, CM9 5BX

Guide Price* £825,000

Property Description

Key features

  • Freehold
  • By appointment with the Auctioneers

Full description

Tenure: Freehold

FOR SALE BY PUBLIC AUCTIONHoliday Inn Hotel, London Southend Airport, Southend-on-Sea, Essex SS2 6XG WEDNESDAY 5TH FEBRUARY AT 2PM

Placed in a prominent position in the Maldon High Street is this Freehold building comprising of two ground floor retail units and four flats above. To the rear is a further building containing three garages to the ground floor and a further flat above. All properties are let producing an income £62,460 per annum. A Yield of approximately 7.6% of the guide price.
The property comprises two commercial units on the ground floor which according to the Valuation Office Agency measurements, unit 132 is approx. 621 sq. ft. (57.7 sq. ms) and unit 134 is approx. 615 sq. ft. (57.2 sq. ms).
The residential upper parts comprises four, two bed apartments over the first and second floor currently let on AST's. The building to the rear of the property is a self-contained one bed apartment providing one parking space and located above three garages which are all let.
Total Income £62,480 per annum broken down as follows:
132 - Ground Floor Shop - £625pcm
134 - Ground Floor Shop - £630pcm
132a - 2 Bed First Floor Flat - £775pcm
132b - 2 Bed 2nd Floor Flat - £825pcm
134a - 2 Bed First Floor Flat - £725pcm
134b - 2 Bed 2nd Floor Flat - 825pcm
134c - 1 Bed First Floor Flat - £650pcm
Garage 1 - £50pcm
Garage 2 - £50pcm
Garage 3 - £50pcm
For more information relating to the current tenancy arrangements please refer to the legal pack
132 - F, 134 - D, 132a - E, 132b - C, 134a - C, 134b - E

Map & Street View

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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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