Westcliff-on-Sea

£235,000
  • Ref: 16379
  • Availability: For Sale
  • Lot: 4
  • Auction date: 03/10/2019
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Property Summary

SOLD AT AUCTION...CONDITIONAL AUCTION SALE...A unique investment opportunity comprising ten units consisting of two commercial and eight residential (nine are let, one is vacant) and producing £84,580 per annum when fully occupied The owners are offering the opportunity to purchase a 25% share of the portfolio on the basis that it is the intention of the remaining 75% owners to continue to run the portfolio for income generation rather than capital growth.

Full Details

ACCOMMODATION
RESIDENTIAL PROPERTIES

3 Anerley Road, Westcliff:
2 bedroom ground floor flat let for 12 months from 9/8/2019 at a rent of £700pcm (£8,400 per annum).

3a Anerley Road, Westcliff
1 bedroom first floor flat let for 12 months from 1/3/2018 at a rent of £550pcm (£6,600 per annum)

382b London Road, Westcliff on Sea
3 bedroom first floor maisonette is vacant. Current rental value is in the region of £750pcm (£9,000 per annum)

384a London Road, Westcliff on Sea
1 bedroom first floor flat let for 12 months from 11/7/2019 at a rent of £545pcm (£6,540 per annum)

384b London Road, Westcliff
1 bedroom second floor flat let for 12 months from 9/10/2018 at a rent of £595pcm (£7,140 per annum)

805a London Road, Westcliff
2 bedroom first floor flat let for 12 months from 25/7/2019 at a rent of £700pcm (£8,400 per annum)

11 Valkyrie Road, Westcliff
2 bedroom ground floor flat let for 12 months from 23/1/2019 at a rent of £675pcm (£8,100 per annum)

11a Valkyrie Road, Westcliff
3 bedroom first floor flat let for 12 months from 27/3/2018 at a rent of £700pcm (£8,400 per annum)

382/384 London Road, Westcliff
Let on a 15 year Lease from 1/7/2018 at a rent of £14,000

805 London Road, Westcliff
Let on a 5 year Lease from 6/1/2019 at a rent of £6,500 per annum


TOTAL INCOME £84,580 PER ANNUM WHEN FULLY OCCUPIED.

NOTE:
As previously mentioned, this is a conditional Auction sale. Contact the Auctioneer for details.

Occupancy is correct at the time of going to print.