Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
13 miles south-west of Folkestone, 15 miles south of Ashford, 24 miles north-east of Hastings
Roads
A259, A2070, M20
Situation
The property is located in a prominent position on the north side of High Street, the town’s main retailing thoroughfare. Nearby occupiers include Sainsbury’s Superstore, Lloyds Pharmacy, Lloyds Bank, Spar and numerous local traders.
Tenure
Freehold.
Location
Miles
13 miles south-west of Folkestone, 15 miles south of Ashford, 24 miles north-east of Hastings
Roads
A259, A2070, M20
Situation
The property is located in a prominent position on the north side of High Street, the town’s main retailing thoroughfare. Nearby occupiers include Sainsbury’s Superstore, Lloyds Pharmacy, Lloyds Bank, Spar and numerous local traders.
Tenure
Freehold.
Description
The property, arranged in three blocks, comprises a double-fronted bank arranged on the ground floor with a self-contained flat on the first floor, together with six shops arranged on ground floor only and four flats arranged on the first floor, sold off on long leases.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, arranged in three blocks, comprises a double-fronted bank arranged on the ground floor with a self-contained flat on the first floor, together with six shops arranged on ground floor only and four flats arranged on the first floor, sold off on long leases.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Ground First
Retail Residential
158.59 sq m
(1,707 sq ft)
NATIONAL WESTMINSTER BANK PLC (1)
10 years from 01/06/2003 until 31/05/2013 (Holding Over)
£20,700
Two Bed Flat
Ground
Retail
65.50 sq m
(705 sq ft)
P MCCULLOUGH (t/a Elsie’s Coffee Shop)
9 years from 24/06/2009 until 23/06/2018
£8,400
Ground
Retail
59.64 sq m
(640 sq ft)
ANGLO DUTCH MEATS (KENT’S) LIMITED (t/a New Romney Butchers)(2)
10 years from 05/01/2013 until 04/01/2023
£8,500
Ground
Retail
62.71 sq m
(675 sq ft)
L ELVY AND B JONES (t/a Hair Flair Hair)
9 years from 01/10/2009 until 30/09/2018
£7,782
Ground
Retail
80.36 sq m
(865 sq ft)
M E HALL (3) (t/a Foords Appliances)
9 years from 01/04/2006 until 31/03/2015 (Holding over) (3)
£9,000
Ground
Retail
74.79 sq m
(805 sq ft)
CILEC LIMITED (t/a Tersons Estate Agents)
9 years from 29/09/2007 until 28/09/2016
£8,760
Ground
Retail
79.25 sq m
(853 sq ft)
A.WAGHORNE (t/a Romney Marsh Carpets)
6 years from 01/03/2012 until 28/02/2018
£9,000
First
Residential
AN INDIVIDUAL
120 years from 01/04/1993 until 31/03/2113
£100
First
Residential
AN INDIVIDUAL
99 years from 01/04/1993 until 31/03/2092
£100
First
Residential
TWO INDIVIDUALS
120 years from 01/04/1993 until 31/03/2113
£100
First
Residential
TWO INDIVIDUALS
99 years from 01/04/1993 until 31/03/2092
£100
Totals
580.6 sq m
(6,250 sq ft)
£72,542
(1) For the year ending 31/12/2014, National Westminster Bank Plc reported pre-tax profits of £2,577,000,000 and a total net worth of £16,403,000,000. (Source: Experian Group 25/09/2015). We understand that this branch will be closing in November 2015, although no notices have yet to be served. (2)We understand that this lease is in the process of being assigned to Farm Butchers Limited. (3)Discussions are ongoing in respect of a new lease.
