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See how verdicts work1-bedroom flat · CO16 7PQ
Sold STCListed 67 days
Opportunity summary
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About
Offered with vacant possession, this well presented purpose built ONE BEDROOM FIRST FLOOR MAISONETTE has access to communal parking and gardens and will be sold with an extended lease, therefore creating an ideal first time buy or investment property.
Council Tax Band: A Tenure: Leasehold Service Charge: £568 per year The property will be sold with an extended lease which we believe from the seller will add an additional 90 years to the unexpired term.
This will also remove any ground rent from the registration of the extension.
Details with approximate only room sizes Double glazed entrance door to Hall Stairs to first floor Landing Loft access, electric radiator, access to Kitchen/Breakfast Room w: 4.47m x l: 2.39m (w: 14' 8" x l: 7' 10") Double glazed window to side, single sink & single drainer with mixer taps set in roll edge worksurfaces with cupboard under, further range of base and eye level units space for washing machine and fridge/freezer, part tiled walls, breakfast bar, electric radiator, access to Lounge w: 4.47m x l: 3.63m (w: 14' 8" x l: 11' 11") Double glazed window to rear with views over open playing fields, electric radiator Bathroom Modern white three piece suite comprising of panel enclosed bath with shower over, pedestal wash hand basin, low level w.c., tiling to walls, wall heater, double glazed window to side Bedroom w: 3.63m x l: 3m (w: 11' 11" x l: 9' 10") Double glazed window to front, electric radiator, airing cupboard Outside Storage Cupboard, communal lawn areas and communal car park Agents Note The property is to be sold as an ongoing investment with the current tenant in occupation retaining residency.
The sellers also own a further two properties in Parklands Court which are being separately marketed, therefore there would be an option for a combined purchase.
The current combined rental for all three units is £25,356 per annum.
Material Information Leasehold information Lease Start Date: 01 Dec 1994 Lease Term: 99 years from 15 April 1990 Lease End Date: 15 Apr 2089 Lease Term Remaining: 64 year - See note below Service charge: £269 every 6 months Ground rent: £37.50 Buildings Insurance: Included in Service charge Notes: Included within the asking price is a 90 year lease extension resulting in a term of approx.
154 years Material Information Tenure: Leasehold Council Tax Band: A Any known additional property charges: No Non-standard property features to note: No Disclosures to declare: No Gas: No Electricity: Yes Water: Connected to mains Sewerage Type: Connected to mains Broadband: Available Mobile coverage: Yes - Please refer to checker.ofcom.org.uk Flood Risk: Surface water: Very Low Rivers and the sea: Very Low Other flood risks: Groundwater: Flooding from groundwater is unlikely in this area.
For more information visit: Reservoirs: Flooding from reservoirs is unlikely in this area.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
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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.
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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.
Area
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FAQ
About Parklands Court, Saxmundham Way, Clacton-on-Sea
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