Summary - 4 ARCADE MANSIONS CLACTON-ON-SEA CO15 1SU
4 bed 1 bath Flat
Immediate rental income from a town-centre property with refurbishment potential.
- Tenant in situ generating £800 pcm (ideal for immediate income)
- Gross yield approximately 8% before charges
- 116 years remaining on the lease (from 2016)
- High service charge £2,305.83 (2024) and ground rent £250 pa
- Single bathroom for four bedrooms (potential tenant demand issue)
- Solid brick construction; likely no wall insulation
- EPC rating D; some energy improvement potential
- Local area: very high crime and high deprivation
A centrally located four-bedroom second-floor flat in Arcade Mansions, offered with a tenant in situ producing £800 pcm. The property sits above mixed-use town-centre premises, moments from shops and local amenities, and benefits from gas central heating, double glazing and fast broadband — practical features for continued lettability.
The lease has 116 years remaining (original 125-year term from 2016). Current income equates to about an 8% gross yield before service charge and ground rent. Service charges are relatively high at £2,305.83 for 2024 and ground rent is £250 per annum; factor these into net returns and budgeting.
Accommodation is traditional in layout with three proper bedrooms plus a fourth room currently used as a dining room. There is one bathroom serving four bedrooms, and the building is of solid-brick construction (likely uninsulated walls), which may mean higher running or upgrade costs if improved thermal performance is desired.
The property will suit buy-to-let investors seeking immediate income and central location convenience. Note the local area scores indicate higher crime and deprivation levels; this may affect rental demand profiles and management requirements. EPC is D and the flat is sold with a tenant, so purchasers should review tenancy terms, current rent and service charge forecasts before committing.
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