146 Wellesley Road, Clacton-on-Sea, Essex, CO15 3QD

Guide Price* : £230,000

Residential Development Opportunity with Consent

Upon Instructions of

Michael Sanders and Georgina Eason of MHA Macintyre Hudson, Joint Administrators of Westway Holdings Limited

  • Freehold vacant building with consent for 10 flats
  • End of terrace property formerly in retail use
  • Established residential location
  • 3,425 sq ft (318.34 sq m)
  • Guide price of £230,000 reflects low capital value of £67 per sq ft

Description

The property comprises an end of terrace building that has been extended to the rear. The original section provides accommodation across ground, first and second floors whilst the extension provides accommodation across ground and first floors.

The building was previously used as retail and showroom space with some residential accommodation to the upper floors.

A series of planning consents have been granted to convert the property into 10 flats, consisting of six one bedroom flats and four studios.

Location

Clacton-on-Sea is a popular seaside town located 16 miles south of Colchester, the town is well connected by both road and rail links.

The property is situated on a prominent corner site and has frontage to both Wellesley Road and Eton Road. The area is predominantly residential with a mix of flats, terraced houses and semi-detached houses and benefits from being within 5 minutes walking distance of both the station and the amenities of Central Clacton.

Tenure

Freehold

Planning

Whilst the property was originally used as retail space, a series of planning applications has led to several parts of the property being converted to residential use:

06/00290/FUL - Approved consent for conversion to two, one bedroom flats.

17/00852/COUNOT Confirmation that prior approval was not required to convert the rear extension part of the property from retail space to provide four, one bedroom flats.

17/01653/FUL - Approved consent to convert the ground floor retail space within the original building into two, one bedroom flats.

18/00590/FUL - Approval for the addition of canopies and porches and remodelling of the existing shopfront to reflect the properties new use as a residential block

VAT

Refer to the legal documentation

Note

This property is being marketed for sale due to insolvency and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the vendors to the best of their knowledge but the purchaser must rely solely upon their own enquiries.

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.

The auction has not yet started
Minimum Opening Bid

£200,000


Bidding Opens On
11th Nov 2020 12:00
End Date

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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.


Viewings Viewing Times
From To Note
22/10/2020 13:00 22/10/2020 14:00

Office Contact

Max Mason
07917 865 212

Vendor

Michael Sanders and Georgina Eason of MHA Macintyre Hudson, Joint Administrators of Westway Holdings Limited

Related Documents

Legal Documents

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Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton October 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.