Flats 1- 6, The Red House, Colchester Road, Halstead, Essex, CO9 2FB

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold for £550,000

Upon the instructions of

Joint LPA Receivers
  • Freehold residential investment
  • Includes six modern self-contained flats
  • 4 let on AST's, 2 sold off on long leases
  • Current rent £35,600 per annum

Addendum

7 Bell Yard, London WC2
Completion 30 business days.

Details

Location

Miles: Colchester 14 miles, Braintree 6 miles, Bury St Edmunds 24 miles
Roads: A1124, A131, A12, A120
Rail: Braintree

Description

The property comprises a substantial, detached building of traditional brick construction beneath a tiled roof that has been converted to provide residential accommodation. The building is arranged as six self-contained flats (4 lets on AST's 2 sold off on long leases), over ground, first and second floors and includes 7 car parking spaces to the rear. The property is situated on the north side of Colchester Road, close to the junction with Broom Hill and a short distance from the retail centre along High Street/Head Street (A331).

Tenure

Freehold

Planning

Braintree District Council (01376 552 525) www.braintree.gov.uk

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Accommodation Tenant Lease Terms Rent £ pa
TOTAL £35,600
Flat 1 Two bedroom flat (1,496 sq ft) Individual 125 years from 01/01/2009 £250
Flat 2 Two bedroom flat (812 sq ft) Individual 125 years from 01/01/2009 £250
Flat 3 Two bedroom flat (1,326 sq ft) Individual 9 month AST from 21/09/2017 £9,600
Flat 4 Two bedroom flat (924 sq ft) Individual (1) Periodic tenancy £9,000
Flat 5 Two bedroom flat (756 sq ft) Individuals (1) 7 month AST from 01/07/2017 £7,800
Flat 6 Two bedroom flat (653 sq ft) Individual (1) 12 month AST from 16/03/2017 £8,700
The areas have been supplied by the Seller.
(1) Rent deposits are held. Please refer to the legal pack.

Contact

Seller's solicitor

Irwin Mitchell LLP

Doug Robertson

0113 218 6428

doug.robertson@irwinmitchell.com

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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