Asher House, 3rd Avenue, Walton on the Naze, Essex, CO14 8JU

Guide Price* : £275,000

Former Care Home with Alternative Use and Development Potential (Subject to Planning)

  • Former Care Home with Development Potential
  • On the instructions of the Joint Administrators
  • Opportunity to convert to single or multiple residential units, a HMO, temporary housing, hotel, guest house or retain as a care home
  • Established residential location
  • Vacant possession
  • Freehold
  • Site area of 0.18 hectares (0.46 acres)
  • Guide Price of £275,000 relfects a low capital value of £48 per sq ft

Description

The property comprises a detached, vacant care home which is arranged over ground and first floor. It is likely that the property originally comprised a single detached house, however several extensions and substantial conversions have been made since this time.
The property provides an 18 bedroom care home with 11 bedrooms to the ground floor, many of which are en suite, in addition to a wet room, kitchen, lounge, dining area, office, laundry room and additional support rooms. The first floor comprises seven bedrooms, a bathroom and WC.
The property would benefit from refurbishment if it were to continue trading as a care home. Alternatively, the property could be converted or redeveloped to provide residential accommodation (subject to obtaining the necessary consents).
Externally there is a car park with space for 10 cars to the front which is laid to concrete, with a rear garden laid to lawn and a seating area on a patio beneath a wooden canopy.

Location

The property is situated on the eastern side of the northern end of 3rd Avenue approximately one mile from the centre of Walton on the Naze in Essex. The property is in an established residential location and there have been several new residential developments nearby in recent years.

Walton on the Naze is a popular seaside resort town with an established High Street and several period buildings. The subject property is less than 5 minutes walking distance from the coast.

The town of Frinton on Sea is directly adjacent to the south and Clacton on Sea 7½ miles to the south west. The nearest large town is Colchester 16 miles to the west.

Tenure

Freehold

Planning

The property is currently vacant and unlet, we consider it would suit conversion to residential use or, due to a low site cover of 23%, demolition and redevelopment of a new residential block.

We understand the property is not listed and not within a conversation area.

The above comments are subject to planning and we encourage bidders to make their own enquiries.

Planning Authority

Tendring District Council

VAT

Refer to the legal documentation

Finance

Our Property Finance team have sourced both short and long term finance options for this lot.

Auction Finance is available for this lot at 65.00% LTV at a competitive rate.

For further information and long term finance options, please contact:

Adam Klein
aklein@lsh.co.uk
020 7198 2241

Accomodation

Address Accommodation Sq M Sq Ft
Asher House Ground Floor 383.73 4,130
Asher House First Floor 144.21 1,552
Total 527.94 5,682

Bidder AML Requirements

For clarification, before being approved to bid, we require the following from all bidders, the documents must be certified by a solicitor who is a member of the law society and be sent from the certifiers e-mail to aarthy@574.co.uk:

• Certified copies of Government issued ID –provided by the certifying solicitor
• Proof of address from within the last three months – provided by the certifying solicitor

The certification must comply with HMRC requirements:
• a statement that the document is “Certified to be a true copy of the original seen by me” and where appropriate, “This is a true likeness of the person” from a person who is competent at document inspection and impostor detection, such as a person from a regulated industry or in a position of trust
• an official stamp of the person certifying and indication of professional status
• been signed and dated with a printed name
• the occupation and address or telephone number

If bidding as a company we will require confirmation of the company name and number and documentation from all persons with significant control.

Contact

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.

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The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.


Office Contact

Max Mason
07917 865 212

Related Documents

Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton July 2020

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.