Lot 96

INVESTMENT OPPORTUNITY: TWO DETACHED COMMERCIAL UNITS & LAND

The Factory & The Works, Bosworth House, High Street, Thorpe-le-soken, Clacton-on-Sea, Essex, CO16 0EA
Guide Price £650,000 – £700,000 * + Fees

Currently let at £66,794 per annum

Estimated rental when fully let c. £70,500 per annum

Applicants may view directly on site during daylight hours

These two detached commercial premises and land form part of commercial development enterprise in the village of Thorpe Le Soken, within easy reach of local amenities and just under half a mile from Thorpe-Le-Soken Mainline station with direct service to London Liverpool Street. Both buildings have separate freehold titles and are being sold together with the land and associated private parking areas.

The Factory is a newly refurbished detached two storey building consisting of six offices (five of which are currently let). The Works (also known as Bosworth House)is a single storey detached building comprising seven offices and three units which is currently fully let.

Site Measurements

The site extends to 0.17 hectares (0.43 acres).

The Factory

Ground Floor

Three office suites each with private W.C. facilities and kitchenettes. Suites 1 & 2 have their own private accesses with individual front doors.

First Floor

Three office suites with shared W.C. facilities and kitchenette.

Tenancies

Five of the offices are currently let at £31,443 per annum on licences/leases ranging from six months to five years, with an all inclusive service charge. Once fully let, it is anticipated the total rental income would be in the region of £35,200 per annum.

The Works

Ground Floor

Seven offices and three units.

Tenancies

Currently fully let on licence/leases ranging from 1 to 8 years producing a rental income of £35,350 per annum. There is also a service charge payable from the tenants which amounts to approximately £2,060 per annum.

Outside

Car parking and amenity space for approximately 30 vehicles.

The Factory & The Works, Bosworth House, High Street, Thorpe-le-soken, Clacton-on-Sea, Essex
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Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/