Reunion House 27-43 Jackson Road Clacton-on-Sea Essex CO15 1JA

Reunion House
27-43 Jackson Road
Clacton-on-Sea
Essex
CO15 1JA

Substantial Freehold Mixed-Use Parade Investment

Substantial building comprising seven shops, a large medical centre, 17 flats (let on long leases) and a large car park to the rear
Shops all let to tenants including Domino's Pizza and Salvation Army
Other shops include a takeaway, a nail bar, a hair salon and a convenience store
Medical Centre on first floor let to Essex University Partnership University NHS Foundation Trust on new 5 year renewed lease from July 2022
Asset Management Opportunities including possible first floor conversion to residential (subject to lease)
Adjacent to Travelodge Clacton Central and opposite NCP Car Park
VAT-free investment

Lot
16
Auction
3rd November 2022
Rent
£147,465 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

Substantial Freehold Mixed-Use Parade Investment

Substantial building comprising seven shops, a large medical centre, 17 flats (let on long leases) and a large car park to the rear
Shops all let to tenants including Domino's Pizza and Salvation Army
Other shops include a takeaway, a nail bar, a hair salon and a convenience store
Medical Centre on first floor let to Essex University Partnership University NHS Foundation Trust on new 5 year renewed lease from July 2022
Asset Management Opportunities including possible first floor conversion to residential (subject to lease)
Adjacent to Travelodge Clacton Central and opposite NCP Car Park
VAT-free investment

Lot 16
Auction 3rd November 2022
Rent £147,465 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 16 miles south-east of Colchester, 70 miles north-east of Central London
Roads: A12, A120, A133
Rail: Clacton-on-Sea
Air: London Southend Airport

Situation

Clacton-on-Sea is a popular seaside resort on the Essex coast, 16 miles south-east of Colchester and 70 miles north-east of Central London. The property is located in Clacton town centre, adjacent to a large Travelodge Hotel and opposite an NCP Car Park, occupying a substantial site on Jackson Road. Nearby occupiers in the Town Centre include Papa John’s, Greggs, McDonald’s, WH Smith, CEX, Superdrug, Boots the Chemist and Sports Direct.

Tenure

Freehold.

Location

Miles: 16 miles south-east of Colchester, 70 miles north-east of Central London
Roads: A12, A120, A133
Rail: Clacton-on-Sea
Air: London Southend Airport

Situation

Tenure

Freehold.

Description

The property comprises seven shops (including one double-fronted shop) arranged on the ground floor only, a health centre arranged on the first floor, and 17 residential flats on the second and third floors, all let on long leases. The property also benefits from a large secure car park to the rear accessed from Ellis Road.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
27 Jackson Road	Retail	58.06	(625)	AN INDIVIDUAL (t/a Ree's Little Hair House)	10 years from 14/01/2016	£10,250
29 Jackson Road	Retail	64.85	(698)	AN INDIVIDUAL (t/a Jardine's Fabrics)	5 years from 29/09/2020	£10,475
31 Jackson Road	Retail	64.85	(698)	AAA FLAVOUR LIMITED with a guarantee from AN INDIVIDUAL (t/a Kings Flavour Takeaway)	15 years from 12/09/2022	£11,200	12/09/2027 and 12/09/2032 to RPI
33 Jackson Road	Retail	68.28	(735)	AN INDIVIDUAL (t/a Jackson Stores Convenience Store)	10 years from 06/02/2015	£11,000
37 Jackson Road	Retail	103.49	(1,114)	DP REALTY LIMITED (t/a Domino's Pizza)	20 years from 16/09/2008	£14,800	16/09/2023
39/41 Jackson Road	Retail	95.32	(1,026)	THE SALVATION ARMY TRUSTEE COMPANY (t/a Salvation Army)	6 years from 17/08/2017	£17,000
43 Jackson Road	Retail	64.85	(698)	TWO INDIVIDUALS (t/a K Nails)	5 years from 24/05/2018	£11,000
First (Suites 13-19)	Health Centre/Ancillary	464.14	(4,996)	ESSEX UNIVERSITY PARTNERSHIP UNIVERSITY NHS FOUNDATION TRUST	5 years from 21/07/2022 (1)	£60,000 rising to £62,500 in July 2025, rising to £65,000 in July 2026
Rear of 27/42 Jackson Road	Sub Station	-	(-)	EDF ENERGY NETWORKS PLC	20 years from 23/06/2003	£1,940.84
Second/Third	17 Flats	-	(-)	VARIOUS	All let on 999 year leases from October 2019	Peppercorn
Total Commercial Area		983.84	(9,965)			£147,665.84

(1) The lease is drawn outside of the Security of Tenure provisions of the Landlord and Tenant Act 1954.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.