1-bedroom flat · CO15 3DL
For saleListed 63 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Service charge (For Leasehold tenure): £1524.25 per year. Ground rent (For Leasehold tenure): £50 per year.
One bedroom top floor flat with scope for modernisation close to the town shops, railway station and seafront with communal parking - ideal for owner occupier or buy to let investor client - keys with sole agents.
Property additional info entrance lobby: Communal area with secure entry code system and stairs to second floor level, door to Flat 49.
Entrance hall: Electric fuse box, entry phone, built in airing cupboard. Lounge/kitchen: 18’max.
X 10’5” Open plan area with large arch divide, windows to front and side, TV point, electric heater (not tested), work surfaces with drawers and cupboards under, inset sink unit, plumbing for washing machine, wall cabinets.
Bedroom: 9’9” x 9’2” Electric heater, window to front. Shower room: Shower cubicle, wash basin, low level wc. Outside: Communal parking space and gardens.
Tenure: We understand the flat is held on the balance of 125 year lease from 29th September 1989 with approximately 88 years remaining.
We understand the current Service Charge is approximately £1600 per year and the Ground Rent £50 per year (to be verified). Services: All main services with the exception of gas are connected.
Agents notes: The vendor Flagship Housing requires offers to be accompanied by a completed Declaration of Interest form.
Where applicants are purchasing the property with cash funds, the vendor requires exchange and completion to take place within 28 days of an offer being accepted and reserves the right to abort the sale if this condition is not met.
The property must be marketed for a minimum of 14 days before any offers are to be considered.
Please also note that all properties built before 2000 will have some degree of asbestos, a report may be available to obtain from Flagship but buyers are encouraged to conduct their own searches.
There is an engrossment fee of £150 payable by the purchaser upon completion.
Flagship have requested a Regulated Drainage & Water Search and a Regulated Local Authority Search, the cost of which the Buyer will be responsible for on completion.
A clause to this effect will be included in the sales contract.
We are unable to guarantee that the search results will be available prior to a sale being agreed but will provide the search report once this is available.
On completion the Buyer shall be required to reimburse the Seller the cost of the searches totalling £130.00.
Any prospective buyer interested in adding additional units, subdividing the garden or altering the property's use will be required to obtain a release of covenant from Flagship Ltd, along with the necessary permissions.
Mobile signal/coverage: Good. Water source: Direct mains water. Electricity source: National Grid. Sewerage arrangements: Standard UK domestic. Heating Supply: Central heating (electric).
Broadband internet type: Fttc (fibre to the cabinet). Parking Availability: Yes.
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
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.
Area
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FAQ
About Flat 49 Empire Court, Warwick Road, CLACTON-ON-SEA
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