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See how verdicts work2-bedroom flat · CO15 3QX
For saleReduced £2k (−2.2%) on 1 SepListed 577 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
*** affordable retirement option - shared ownership with no extra charges on the 30% owned by eastlight *** Sheen's Estate Agents are pleased to offer for sale this two bedroom ground floor retirement flat for the over 55's.
The property is situated within half a mile of Clacton-on-Sea's town centre, mainline railway station and seafront.
The flat is on a shared ownership scheme with Eastlight Community Housing, with the purchase price being for 70% of the property (No Additional Rent on the 30% owned by Eastlight).
Accommodation Comprises The accommodation comprises approximate room sizes: Multi-panel glazed wooden communal entrance door to Community Entrance Hallway via security intercom system (not tested).
Communal Entrance Hallway Double glazed personal composite entrance door to; Entrance Hallway Wood effect flooring. Built in airing cupboard. Additional built in storage cupboard.
Large walk-in storage cupboard 6'5 x 4'1 (1.96m x 1.24m). Doors to; Lounge (3.81m x 3.61m (12'6 x 11'10)) Wood effect flooring. Electric Dimplex Q Rad electric radiator (not tested).
UPVC double glazed window to side with additional energy saving secondary glazed window to side. UPVC double glazed Oriel bay window to front with energy saving secondary glazed window.
Kitchen (3.81m x 2.24m (12'6 x 7'4)) Fitted with a range of cream panel laminate fronted units comprises; Wood panel effect laminated rolled edge work surfaces with cupboards and drawers under.
Range of matching wall mounted units. Inset single drainer stainless steel sink unit with mixer tap. Cooker space. Fridge freezer space. Tiled splash backs. Wood effect flooring.
UPVC double glazed window to side with energy efficiency double glazing. Bedroom One (3.94m x 3.02m (12'11 x 9'11)) Electric Dimplex Q Rad radiator (not tested).
UPVC double glazed window with energy efficient secondary glazing to rear with views over greensward. Bedroom Two (3.86m x 1.88m (12'8 x 6'2)) Electric Dimplex Q Rad radiator (not tested).
UPVC double glazed window to rear with energy efficient secondary glazing.
Shower Room Fitted with a three piece white suite comprising; Corner shower cubicle with wall mounted electric shower (not tested). Pedestal wash hand basin. Low level W.C. Part tiled walls.
Electric heated towel rail (not tested). UPVC double glazed window to front.
Outside The property benefits from communal parking areas with communal gardens to front and rear of property which are mainly laid to lawn. Shrub borders. Communal bin areas.
To the front of property is a greensward with mature trees, and with access on to Old Road.
Greensward To Front Communal Laundry The property benefits from communal laundry of which is included in the maintenance charge.
Je 0325 Money laundering, terrorist financing and transfer of funds (information of the payer) regulations 2017 - When agreeing a purchase, prospective purchasers will be asked to undertake Identification checks including producing photographic identification and proof of residence documentation along with source of funds information.
There will be an admin charge of £24 inclusive of VAT for a single applicant and £36 inclusive of VAT total for multiple applicants via a third party company who undertake our Anti Money Laundering checks.
Referral fees - You will find a list of any/all referral fees we may receive on our website .
Material Information (Leasehold Property) Tenure: Leasehold Council Tax Band: B Length of lease (years remaining): The property will be issued with a brand new 99 year lease upon purchase.
Annual ground rent amount (£): Ground rent review period (year/month): Annual service charge amount (£): £106.71 pcm (£1280.52 per year) Service charge review period (year/month): Any Additional Property Charges: Please note you are purchasing a 70% share of the property with the 30% remaining ownership held by Eastlight Community Housing.
The property has to be sold at the RICs Valuation of £91,000 so the price is fixed at this level.
Services Connected: (Gas): No (Electricity): Yes (Water): Mains (Sewerage Type): Mains drainage (Telephone & Broadband): Yes - For Current Correct Information Please Visit: Non-Standard Property Features To Note: Particular Disclaimer These Particulars do not constitute part of an offer or contract.
They should not be relied upon as a statement of fact and interested parties must verify their accuracy personally.
All internal & some outside photographs are taken with a wide angle lens, therefore before arranging a viewing, room sizes should be taken into consideration.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 10, Olivers Court, Olivers Close, Clacton-On-Sea
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