Commercial property for sale in Jackson Road, Clacton-On-Sea CO15
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Property features
- To be offered on Tuesday 3 September
- Mixed Use Investment/Development Opportunity
- Five Retail Units with Rear Warehouse and Office Suites
- One Unit Let Producing £5,700 per annum
- Potential to Create a High Yielding Investment
- Positive Pre-App for Conversion of Upper Parts to 7/8 HMO Studios
- Site Area - 0.087 acres (0.035 hectares)
- Erv of £75,000 per annum if Fully Let
- Guide Price Reflects 18.75% Gross Yield on erv
- No VAT
Property description
Strapline
Auction Sale - 03/09/2024
Freehold Mixed Use Investment/Development Opportunity
Five Retail Units with Rear Warehouse and Office Suites to the Upper Parts - One Unit Let Producing £5,700 per annum
Potential to Create a High Yielding Investment
Positive Pre-App for Conversion of Upper Parts to 7/8 HMO Studios
Description
The property comprises a freehold, mixed use, investment/development site with multiple value-add opportunities.
Arranged as five retail units, one of which includes a rear warehouse, and offices to the first floor, the property is currently vacant except for a single retail unit which is let on a lease producing £5,700 per annum.
The property presents an excellent value add opportunity via letting of the vacant units, but has also received a positive pre-app response with a proposed conversion of the upper parts (currently comprising 5 x office suites) into 7/8 self contained HMO studios. We understand minimal works would be required for this conversion, with the upper parts already benefitting from separate electricity meters. The Vendor has confirmed that the successful purchaser will be provided with all plans produced to date regarding this conversion.
Clacton-on-Sea is a popular seaside resort town, the property is positioned in an established mixed-use area close to the junction with Pier Avenue, the principal retail amenity. Jackson Road is characterised by a mix of retail and residential use, and a number of residential developments have recently been carried out.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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