The Wick Jaywick Ln 11,905 SF Retail Building Clacton On Sea CO16 8BG $1,359,675 ($114.21/SF)

A unique opportunity to purchase this vacant public house on a plot of approximately 1.02 acres, with the benefit of outline planning permission for 9x three bedroom houses on the land surrounding. We estimate GDV of the new development to be in the region of £2,775,000 (excluding retained pub). We believe there is scope to amend the planning to make use of the existing squash courts for commercial or residential use.
Planning - Reference: 24/00440/OUT - Outline Planning Application (all matters reserved) - nine new dwellings.
The scheme permits the squash courts to the rear of the pub to be demolished and the development of 6x 3 bedroom semi-detached houses and 3x 3 bedroom detached houses with 2 parking spaces each.
Approved: 7/11/2024
A full copy of the plans are available upon request.
Premises - The Wick Lodge is a long established public house with the benefit of three bedroom accommodation over. Scope for alternate use (STPP) such as a convenience store.
Gdv - Plot Description Parking Sq Ft Price £SF
13 bed detached house 2 spaces940£325,000.00£345.74
23 bed semi-detached house2 spaces940£300,000.00£319.15
33 bed semi-detached house2 spaces940£300,000.00£319.15
43 bed semi-detached house2 spaces940£300,000.00£319.15
53 bed semi-detached house2 spaces940£300,000.00£319.15
63 bed semi-detached house2 spaces940£300,000.00£319.15
73 bed semi-detached house2 spaces940£300,000.00£319.15
83 bed detached house 2 spaces940£325,000.00£345.74
93 bed detached house 2 spaces940£325,000.00£345.74
Total GDV - £2,775,000 excluding pub
Business Rates - The property appears in the VOA rating list with a Rateable Value of £18,000 giving rates payable of approximately £8,982 per annum excluding any applicable rate relief. The liability is currently the responsibility of the Tenant.
This may be subject to revaluation following the demolition of part.
Council Tax - Council Tax Band - B
Epc - Energy Rating - B (44)
Agent Note - 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.
Anti Money Laundering - 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.