Development Properties: 52-54 Connaught Avenue, Frinton-on-Sea, Essex, CO13 9PR
52-54 Connaught Avenue, Frinton-on-Sea, Essex, CO13 9PR
Freehold interest including restaurant and upper parts – OIEO £950,000. Upper parts alone - OIEO £350,000 subject to contract.
- Planning permission has been granted for alternations and extensions on the front part of the building. These will create 6 x 1 bedroom flats on the first and second floors, which are currently presented as 1 x 2 bedroom and 1 x 3 bedroom. Planning permission has also been granted at the rear of the building to create 4 x 1 bedroom flats. Proposed net saleable area – 4,062ft2. To be sold with a 999 year leasehold. As part of these development works the buyer will be required to extend the commercial premises, as detailed below.
- OIEO £350,000
- The commercial ground floor is also available for purchase.
- Currently let at £ 33,800 pa on a 20 year lease. As part of implementing planning permission for residential parts the commercial area will be extended, resulting in an increased rent of £43,000 pa.
- Freehold interest including restaurant and upper parts – OIEO £950,000