9 Station Road, Clacton-On-Sea, Essex

Description

A vacant freehold commercial property arranged over three floors in the heart of Clacton town centre, considered ideal for buy to let investment or owner occupation. This former Santander Bank premises offers a total of approximately 2,561 square feet of floor area over three levels. It is situated in a prime location in the centre of this coastal town and could suit a variety of uses subject to obtaining the necessary consents.

Accommodation

Ground floor: main shop area measuring approximately 8.33m x 7.32m, with a counter and rear store area measuring approximately 12'4" x 17'. Offices 1 and 2. First floor: landing, Offices 3 and 4, two washrooms with pedestal wash hand basins and WCs. Second floor: landing, kitchen/staff room, store room and store room 2.

Location

Located in the heart of Clacton town centre. Local occupiers include NatWest Bank, Corals, McDonalds, Holland & Barret and Greggs.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on Station Road range from £292,500 to £470,000, with an arithmetic average of £394,600. They are recorded only as “Other” freehold transactions and do not provide floor areas, condition, use or accommodation details, so they are indicative rather than directly comparable. A cautious evidence-based GDV range is £292,500–£470,000, with £394,600 used as the base scenario; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not proceed at the guide price without a commercial valuation, rental appraisal, planning/use review, survey and full legal-pack cost assessment. The evidence does not establish a dependable BTL or flip case; owner occupation may be considered only if the intended use is confirmed as suitable.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow only for inspection-led works, statutory compliance and any alterations required for the intended use, subject to survey, legal review and planning/use consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV scenario, 75% of GDV is £295,950 against a guide price plus the stated £2,400 buyer premium and admin charge of £277,400, before unknown disbursements, finance, tax and works. This indicates a theoretical £18,550 surplus of refinance proceeds before those omitted costs, but commercial refinance terms, valuation acceptance, rent and works costs are unknown. BRRR cannot be relied upon without a commercial letting and funding appraisal.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no passing rent or subject-property commercial rental appraisal is supplied. The £600 pcm Zoopla listing is an advertised asking rent for an unspecified commercial property and cannot safely be applied to this 2,561 sq ft former bank premises. The £850 pcm listing is residential and is not relevant. The property is vacant, so there is no income evidence.

Flip Analysis

The base GDV is £394,600, derived from the average of the supplied Station Road completed sales. However, the comparables lack floor areas, condition and use details, and no refurbishment or selling-cost allowance is supported. A reliable flip surplus therefore cannot be calculated. The apparent £117,200 difference between base GDV and acquisition cost is not a net profit estimate and excludes works, finance, tax, selling costs and unknown auction disbursements.

Investor Risks & Due Diligence

• The supplied sold comparables are recorded only as “Other” and lack floor area, condition, use and accommodation details.

• The property is vacant and no passing rent or reliable subject-property rental appraisal is supplied.

• The description states that potential uses are subject to obtaining necessary consents.

• No specific condition, refurbishment or compliance cost evidence is supplied.

• Additional disbursements and seller or legal charges may be payable under the special conditions and are unknown.

• Commercial finance and refinance terms are not supplied, so the 75% GDV calculation is theoretical only.

Recommendation

Do not proceed at the guide price without a commercial valuation, rental appraisal, planning/use review, survey and full legal-pack cost assessment. The evidence does not establish a dependable BTL or flip case; owner occupation may be considered only if the intended use is confirmed as suitable.

Strategy Rating

Analysis Confidence

The property description, guide price, tenure, occupancy, floor area, EPC, auction charges and several same-street completed sales are supplied. However, the comparables lack key property details, there is no subject rent, no condition survey, no works budget, no planning information and additional legal-pack costs are unknown.