Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
16 miles north-east of Canterbury, 4 miles north-west of Ramsgate
Roads
A28, M2, M20
Rail
Margate Railway Station
Air
London Gatwick Airport
Situation
The property is situated in a prominent corner location on High Street at its junction with Bilton Square in Margate town centre. Nearby occupiers include Primark, Boots the Chemist, WH Smith, Specsavers and Barclays Bank.
Tenure
Virtual Freehold. for a term of 999 years from 25th December 2003
at a peppercorn rent.
Location
Miles
16 miles north-east of Canterbury, 4 miles north-west of Ramsgate
Roads
A28, M2, M20
Rail
Margate Railway Station
Air
London Gatwick Airport
Situation
The property is situated in a prominent corner location on High Street at its junction with Bilton Square in Margate town centre. Nearby occupiers include Primark, Boots the Chemist, WH Smith, Specsavers and Barclays Bank.
Tenure
Virtual Freehold. for a term of 999 years from 25th December 2003
at a peppercorn rent.
Description
The property comprises a restaurant arranged on the ground floor and basement, forming part of a larger building.
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a restaurant arranged on the ground floor and basement, forming part of a larger building.
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 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
Reviews/(Reversion)
Ground Basement
Restaurant Ancillary
176.04 sq m 177.90 sq m
(1,895 sq ft) (1,915 sq ft)
CASKADE CATERERS LIMITED (1) (t/a KFC)
20 years from 17/11/2003 on an effectively full repairing and insuring lease
£47,500
17/11/2018 17/08/2023 (16/11/2023)
Totals
353.94 sq m
(3,810 sq ft)
£47,500
(1) For the year ending 30/11/2013, Caskade Caterers Limited reported a turnover of £23,262,692, pre-tax profits of £1,481,005 and a total net worth of £1,407,056. (Source: www.riskdisk.com 24/02/2015). A rent deposit of £23,850 is held.
