Key Features:

Buy-it-Now option available
Being Sold by GOTO Online Auction
Buyer’s fees apply

Property Description

An excellent opportunity to acquire a freehold investment property in a well-connected and popular residential area of Southend-on-Sea. This property is being sold with a tenant in situ, currently generating a rental income of £600 per calendar month, offering an immediate return for investors.

The property is held on a lease with approximately 58 years remaining; however, it is important to note that the sale includes the freehold, presenting a valuable long-term advantage and potential to enhance the asset’s value over time.

Investment Potential

This property represents a compelling investment opportunity, with established rental income from day one. The inclusion of the freehold provides additional control and future flexibility, including the possibility to extend the lease or restructure the tenure to maximise value. With continued demand for rental properties in the area, investors can benefit from both steady income and future capital growth.

Location

Situated in a convenient part of Southend-on-Sea, Chancellor Road offers excellent access to a wide range of local amenities. The property is within easy reach of local shops, supermarkets and the seafront, making it an attractive location for tenants.

Southend town centre is just a short distance away, offering an array of retail outlets, restaurants, and leisure facilities, as well as the popular seafront and pier. For commuters, there are excellent transport links, including nearby rail stations providing direct services into London, making the area highly desirable for working professionals.

Why Invest Here?

Immediate rental income of £600 PCM
Freehold included in the sale
Strong rental demand in the area
Excellent transport links into London
Close to local amenities and Southend seafront
Potential to add value through lease extension
This is a rare opportunity to secure a freehold investment with income already in place, in a thriving and well-connected coastal town.

Agents note: this property is being sold as part of a portfolio of four properties further details are available upon request

Being Sold by GOTO Online Auction

Starting Bids from: £160,000

Buy it now option available

Please call or visit GOTO Online Auctions for more information.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract is received by the buyer’s solicitor (or 10 working days after receipt of the buyer’s premium, whichever is earlier). Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee. The fee will be a fixed fee including the Vat, this secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

FOR VIEWINGS PLEASE QUOTE REFERENCE AS1482

General Information:
Auctioneer's Comments

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer but will be given 56 working days in which to complete the transaction, from the date the Draft Contract are issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.

Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer’s Premium of 3.6% of the purchase price including vat. This is subject to a minimum amount of £6600 including VAT and a Legal Pack fee of £396 including VAT. This secures the transaction and takes the property off the market.
The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.

Flat in Southend-on-sea