Available
South Ockendon – 3 Residential Blocks
Chapel Court, 12 North Road, South Ockendon, Essex RM15 6BQFreehold Residential Blocks Investment
Price
OIEO £3,800,000
Rent P.A.
£180,000
Yield
4.74%
Tenure
Freehold
Lease Term
3 Years
Years Left on Lease
Holding Over
Area
7,974 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises 1 x Detached and 2 x Semi-Detached Residential Blocks on a plot of 0.30 acres
- Newly built in 2020 with new modern facilities including private/communal areas and intercom entry phone systems
- 10 Year New Home Guarantee
- 15 off-street car parking spaces
- Total NIA 741 sq m (7,974 sq ft)
- Entire property let to Thurrock Council
- Located within 0.5 miles from South Ockendon Train Station
- Nearby occupiers include Post Office, Tesco Esso Express, Pharmacy, Takeaway shop and Pub
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises 15 self-contained flats situated within a set of three new build residential blocks. Block A is located just off the main vehicular road of North Road, whereas adjoining Block B and C are set further back and behind Block A. Some of the flats benefit from private outside space by way of lawned/blocked paved patio or balconies. The property provides off-street parking space for each flat.
The property provides the following accommodation and dimensions:
Block A: 4 x 1-Bed and 1 x 2-Bed Flats
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Block B: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Block C: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Total Net Internal Area: 741 sq m (7,974 sq ft)
The property provides the following accommodation and dimensions:
Block A: 4 x 1-Bed and 1 x 2-Bed Flats
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Block B: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Block C: 4 x 1-Bed and 1 x 2-Bed Apartments
Ground Floor: 2 x 1-Bed Flats 90 sq m (968 sq ft)
First Floor: 2 x 1-Bed Flats 94 sq m (1,012 sq ft)
Second Floor: 1 x 2-Bed Flat 63 sq m (678 sq ft)
Total Net Internal Area: 741 sq m (7,974 sq ft)
Tenancy Description
The entire property is at present let to Thurrock Council for a term of 3 years from 1st January 2021 at a current rent of £180,000 per annum. The Council is paying rent of £950 pcm for one bedroom apartments and £1,200 pcm for the two bedroom apartments.
Tenancies & Accommodation
Location Description
South Ockendon is a town within the Thurrock borough in Essex in the East of England, United Kingdom. It is located on the border with Greater London, just outside the M25 motorway. The property is located a short walk away (approx. 0.5 miles) from South Ockendon Train Station which provides services into London Fenchurch Street one direction and towards Southend the other way. These services run twice hourly. There are also bus routes close by providing regular services to neighbouring areas. The property benefits from close proximity to public transport links and retail amenities of South Ockendon. Occupiers nearby include Post Office, Tesco Esso Express, Pharmacy, Takeaway shop and Pub.
