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

An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

* Reserve price

The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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