Acquired
Clacton-on-Sea – Residential Block of 8 Apartments
Seafields, 69 Marine Parade East, Clacton-on-Sea CO15 6JGFreehold Unbroken Block of 8 Apartments Let on Assured Shorthold Tenancies
Investment Consideration
- Comprising 8 self-contained units 7 x 1-bed and 1 x 2-bed flats.
- Total area size of 374 sq m (4,025 sq ft)
- 100% Occupancy Rate
- In same ownership for 45 years
- The property is located on the seafront, overlooking the beach and Clacton Pier
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises 8 self-contained units, 7 x 1-bedroom and 1 x 2-bedroom flats apartments, arranged over Ground, First and Second floors with the following accommodation and dimensions:
Ground Floor: 3 x 1-Bed and 1 x 2-Bed Flats
First Floor: 2 x 1-Bed Flats
Second Floor: 2 x 1-Bed Flats
Total area size: 374 sq m (4,025 sq ft)
Ground Floor: 3 x 1-Bed and 1 x 2-Bed Flats
First Floor: 2 x 1-Bed Flats
Second Floor: 2 x 1-Bed Flats
Total area size: 374 sq m (4,025 sq ft)
Tenancy Description
Flat 69 is at present let on AST to an Individual for a term of 12 Months from 31st October 2020 at a current rent of £7,920 per annum. Deposit held of £888.
Flat 69B is at present let on AST to an Individual for a term of 12 Months from 1st May 2020 at a current rent of £6,900 per annum. Deposit held of £575.
Flat 1 is at present let on AST to an Individual for a term of 12 Months from 1st August 2021 at a current rent of £6,720 per annum. Deposit held of £550.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from 5th August 2020 at a current rent of £6,600 per annum. Deposit held of £550.
Flat 3 is at present let on AST to an Individual for a term of 24 Months from 29th July 2021 at a current rent of £6,480 per annum. No deposit held.
Flat 4 is at present let on AST to an Individual for a term of 12 Months from 21st March 2019 at a current rent of £6,240 per annum. Deposit held of £450.
Flat 5 is at present let on AST to an Individual for a term of 12 Months from 26th June 2021 at a current rent of £6,600 per annum. Deposit held of £550.
Flat 6 is at present let on AST to an Individual for a term of 12 Months from 15th March 2019 at a current rent of £5,040 per annum. Deposit held of £450.
Flat 69B is at present let on AST to an Individual for a term of 12 Months from 1st May 2020 at a current rent of £6,900 per annum. Deposit held of £575.
Flat 1 is at present let on AST to an Individual for a term of 12 Months from 1st August 2021 at a current rent of £6,720 per annum. Deposit held of £550.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from 5th August 2020 at a current rent of £6,600 per annum. Deposit held of £550.
Flat 3 is at present let on AST to an Individual for a term of 24 Months from 29th July 2021 at a current rent of £6,480 per annum. No deposit held.
Flat 4 is at present let on AST to an Individual for a term of 12 Months from 21st March 2019 at a current rent of £6,240 per annum. Deposit held of £450.
Flat 5 is at present let on AST to an Individual for a term of 12 Months from 26th June 2021 at a current rent of £6,600 per annum. Deposit held of £550.
Flat 6 is at present let on AST to an Individual for a term of 12 Months from 15th March 2019 at a current rent of £5,040 per annum. Deposit held of £450.
Tenancies & Accommodation
Location Description
Clacton-on-Sea is the largest town in the Tendring peninsula and district in Essex, eastern England. The town is served by Clacton-on-Sea railway station (90 minutes to London Liverpool Street station). The town also benefits from its own airport. Clacton has a pleasure pier, arcades, a golf course, caravan parks and an airfield. The town and its beaches are still popular with tourists in the summer and there is an annual entertainment programme including the Clacton Carnival and Clacton Air show. Clacton has a shopping area with many of the usual national chains represented, and a Factory Shopping Village in the north of the town. Seafields is located on the seafront, overlooking the beach and Clacton Pier.
