Reunion House, 27 - 43 Jackson Road, Clacton-on-Sea, Essex, CO15 1JA
- PROPERTY TYPE
Commercial Property
- SIZE
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Key features
- Freehold
- By appointment with the auctioneers
Description
COMMERCIAL INVESTMENT: A LARGE FREEHOLD BUILDING FULLY LET PRODUCING AN INCOME OF £147,500 APPROXIMATELY PER ANNUM. A 9.8 % YIELD OF THE GUIDE PRICE.
A substantial four storey freehold property located in Clacton Town Centre consisting of seven retail units, a large medical centre and flats which have been sold on long leases. There is a forecourt onto Jackson Road in front of the retail units, and a large secure car park to the rear, accessed from Ellis Road. Recently planning permission has been granted (on appeal) to use a part of the car park for the construction of 2 no. semi-detached houses.
27 Jackson Road - Health and beauty salon. 625 Sq.Ft
29 Jackson Road - Haberdashery/fabric shop. 698 Sq.Ft
31 Jackson Road -Fast food takeaway- 698 Sq.Ft -
33 Jackson Road - Convenience store. 735 Sq.Ft
37 Jackson Road-Dominos Pizza 1,114 Sq.Ft -
39/41 Jackson Road-Salvation Army Trustee -1,026 Sq.Ft
43 Jackson Road - Nail bar-698 Sq.Ft -
Rear of 27/42 Jackson Rd Sub station - EDF Energy Networks PLC
First Floor Offices - EUPU NHS Foundation Trust 4,996 Sq.Ft
All flats have been sold off on 999 year leases at peppercorn rents, with the exception of 13 and 15, that currently have sales agreed,expected to have completed prior to auction. Should they not complete they will be retained by the seller.
The total current income after management charges is £145,965.84, rising to £147,465.84 with effect from 21st July 2022.
27 Jackson Road - Health and Beauty Salon - £10,250 PA
29 Jackson Road - Haberdashery/Fabric Shop - £10,475 PA
31 Jackson Road - Fast Food Takeaway - £11,000 PA
33 Jackson Road - Convenience Store - £11,000 PA
37 Jackson Road - Dominos Pizza - £14,800 PA
39/41 Jackson Road - Salvation Army Trustee Company as a charity - £17,000 PA
43 Jackson Road - Nail Bar- £11,000 PA
27/42 Jackson Rd Sub station - EDF Energy Networks PLC - £1,940.84 PA
Essex University Partnership University NHS Foundation Trust -Current £58,500 p.a. expiring on 20th July 2022 Rising to £60,000 from 21st July 2022, then £62,500 in Year 4 then to £65,000 in Year 5.
27 Jackson Road - Health and beauty salon. Lease expires on 14th January 2026
29 Jackson Road - Haberdashery/fabric shop. Lease expires on 28th September 2025
31 Jackson Road - Fast food takeaway. The lease expires on 13th March 2024 (Tenant is currently in discussions for a new 10 year lease)
33 Jackson Road - Convenience store. The lease expires on 5th February 2025.
37 Jackson Road- Dominos Pizza. The lease expiring on 15th September 2028, with a rent review in 2023.
39/41 Jackson Road - Salvation Army Trustee Company as a charity shop. Expires in August 2023, rent review in August 2022.
43 Jackson Road - Nail bar.- Lease expires on 23rd May 2023.
Rear of 27/42 Jackson Rd Sub station - EDF Energy Networks PLC- Lease expires on 23rd June 2023.
First Floor-Essex University Partnership University NHS Foundation Trust
Term expiring on 20th July 2022. New lease completed for a further 5 years from 21st July 2022.
Recently planning permission has been granted (on appeal) to use part of the car park for the construction of 2 no. semi-detached houses. We are advised however that the lease to Essex University Partnership University NHS Foundation Trust includes 20 parking spaces. It may not be possible to construct these properties and provide the necessary agreed parking spaces.
For more information relating to this permission please search Appeals on the Tendring district council planning portal using application number 20/00960
We are also advised that permitted development rights have been granted for conversion of the first floor (currently occupied by Essex University Partnership University NHS Foundation Trust) to 9 x residential apartments. For further planning enquiries please contact Tendring district council on .
We understand that VAT is not applicable to this purchase however buyers should refer to the legal pack and/or obtain legal advice for full clarity.
There is a forecourt onto Jackson Road in front of the retail units, and a large secure car park to the rear, accessed from Ellis Road. This car park has an electricity sub-station and also houses refuse compounds for all occupiers. Each flat contributes to a service charge which repairs and maintains the car park and common parts. For more information please refer to the legal pack.
For more information relating to the current leases and rents please contact the managing agent. MORLEY RICHES & ABLEWHITE T: E:
Brochures
Legal DocumentsReunion House, 27 - 43 Jackson Road, Clacton-on-Sea, Essex, CO15 1JA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Clacton Station0.3 miles
- Thorpe-le-Soken Station4.0 miles
- Kirby Cross Station4.5 miles
About the agent
Dedman Gray Auction, Essex
103 The Broadway, Thorpe Bay, Essex, SS1 3HQ
Dedman Gray Auction Ltd are based in Thorpe Bay in Southend on Sea, Essex and are firmly established as one of the top 20 UK national auctioneers, holding regular land and property auctions.
Buying or selling land and property at auction is ideal if you wish to remove the uncertainties of the normal selling process. A sale by public auction demonstrates the best possible price has been obtained taking into consideration market conditions and the position and repair of the property. Dedm
Industry affiliations
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Dedman Gray Auction, Essex on 01702 311010.
*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.
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