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The Street, Little Clacton, Clacton-On-Sea

East of England

£10,000,000
Listed on 13/12/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This prime development site presents an exceptional opportunity for investors in the desirable area of Weeley, within Little Clacton. With full planning permission granted for 98 residential units—including three, four, and five-bedroom homes as well as bungalows—this plot is a blank canvas for creating a vibrant community. Additionally, there's a pre-application submitted to potentially increase the total to 122 units by substituting some larger homes with more affordable two and three-bedroom houses. The location benefits from its close-knit village atmosphere while still offering easy access to essential amenities and transport links. Nearby railway stations connect residents directly to key locations such as Colchester and Central London, enhancing the appeal for commuters. The local environment boasts picturesque open fields, contributing to a pleasant living experience just moments away from convenience stores and social venues like pubs and restaurants. This property is not just a development site; it’s an investment in future housing needs in a sought-after region.

Investment Analysis

(CO16 area)
Area Average
£318/sq ft
Avg Rent (weekly)
£299
Avg Yield
4.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £400,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (CO16)

Area prices are stable by +0.1% over the last 12 months
3 year growth: -7.9%
5 year growth: 7.0%
Investment Disclaimer: Analysis based on CO16 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

The Street, Little Clacton, Clacton-On-Sea
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Mortgage Calculator

£
£
£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£36,633
Based on a loan of £7,500,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE