A chance to acquire this Freehold site with potential for redevelopment. There is an appeal pending for the 'redevelopment of a vacant commercial site with 3 x two bed houses and 9 x two bed apartments.' Should the appeal be allowed we anticipate a GDV of approximately ?2.1m and an annual rental yield of ?113,400. The site measures approximately 0.4 acres in total and currently comprises detached mixed use building with two shops and one flat over, a further red brick industrial unit and timber workshop. We believe the site offers potential for a number of alternate uses STPP.

THE SITE

0.4 Acre site located in the seaside town of Walton-on-the-Naze. The opportunity currently comprises detached mixed use building with two shops and One flat over, a further red brick industrial unit and timber workshop. We believe the site offers potential for a number of alternate uses STPP. The site lies within the settlement boundary as situated approximately 0.3 miles from the beach and within a mile of the Town Centre.

PLANNING

Tendring District Council Planning Reference: 23/00806/OUTOutline planning for 'for the redevelopment of a vacant commercial site with 3 x two bed houses and 9 x two bed apartments' was refused in September 2023 and is currently pending an appeal decision.A full copy of plans are available upon request.We believe the site could suit alternative commercial/residential schemes, any enquiries should be made to your chosen planning consultant or the local authority.

PROPOSED GROUND FLOOR

PROPOSED FIRST FLOOR

PROPOSED SECOND FLOOR

PROPOSED ELEVATIONS

GDV

Based on the current proposed scheme indicative values are as follows:9 x 2 bed apartments - ?150,000 each / ?750 PCM3 x 2 bed houses - ?250,000 each / ?900 PCMTotal - ?2,100,000 - Sale / ?113,400 PA - Rent

Agents Note Sales

PLEASE NOTE - Although we have not tested any of the Gas/Electrical Fixtures & Fittings, we understand them to be in good working order, however it is up to any interested party to satisfy themselves of their condition before entering into any Legal Contract.

AML

ANTI-MONEY LAUNDERING REGULATIONS 2017 - In order to comply with regulations, prospective purchasers will be asked to produce photographic identification and proof of residence documentation once entering into negotiations for a property.