Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
16 miles north-east of Canterbury, 42 miles north-east of Maidstone, 77 miles south-east of London
Roads
A255, B2052, A28
Rail
Margate Rail (direct to London Kings Cross and Victoria)
Air
London City Airport
Situation
Margate is a popular coastal town situated on the north Kent coast and benefitting from excellent road communications. The property is situated 5 minutes drive to the south-west of the town centre in a predominantly industrial area. Nearby occupiers include Howdens Joinery, Margate Football
Club, All Saints Industrial and SC Motor Factors.
Tenure
Long Leasehold. Long Leasehold held from Thanet District Council for 250 years from 14/06/2013 until 13/06/2263, at a rent of £11,500 pa, reviewed 10 yearly to the higher of 10% of OMRV or 10% of the gross passing rent.
Location
Miles
16 miles north-east of Canterbury, 42 miles north-east of Maidstone, 77 miles south-east of London
Roads
A255, B2052, A28
Rail
Margate Rail (direct to London Kings Cross and Victoria)
Air
London City Airport
Situation
Margate is a popular coastal town situated on the north Kent coast and benefitting from excellent road communications. The property is situated 5 minutes drive to the south-west of the town centre in a predominantly industrial area. Nearby occupiers include Howdens Joinery, Margate Football
Club, All Saints Industrial and SC Motor Factors.
Tenure
Long Leasehold. Long Leasehold held from Thanet District Council for 250 years from 14/06/2013 until 13/06/2263, at a rent of £11,500 pa, reviewed 10 yearly to the higher of 10% of OMRV or 10% of the gross passing rent.
Description
The property comprises a standalone trade counter unit with ancillary accommodation over part ground and first floors. The site benefits from a large yard area including car parking spaces and a total approximate site area of 2.078 acres (0.8409 hectares).
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 comprises a standalone trade counter unit with ancillary accommodation over part ground and first floors. The site benefits from a large yard area including car parking spaces and a total approximate site area of 2.078 acres (0.8409 hectares).
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.
Reviews
Ground
Trade Counter/Ancillary
3,108 sq m
(33,460 sq ft)
SAINT-GOBAIN BUILDING DISTRIBUTION LIMITED (1) (t/a Jewson) (2)
15 years from 25/03/2011 until 24/03/2026 on a full repairing and insuring lease
£115,000
25/03/2016 and 25/03/2021
Totals
3,108 sq m
(33,460 sq ft)
£115,000
(1) Saint-Gobain Building Distribution (SGBD) is Europe’s largest distributor of building materials with a network of 4,200 sales outlets and annual sales of €19.7 billion. In the UK and Ireland alone, Saint-Gobain’s businesses employ 17,000 people across 1,000 sites, including both manufacturing and distribution companies. (Source: www.jewson.co.uk 25/09/2015) Saint-Gobain Building Distribution Limited is a subsidiary of Saint-Gobain Limited, and has a D & B rating of 5A1. For the year ending 31st December 2014, Saint-Gobain Limited reported a turnover of £18,709,000, pre-tax profits of £18,370,000 and a total net worth of £1,338,966,000 (Source: Experian Group 25/09/2015) (2) Jewsons was acquired by Saint-Gobain in 2000 and are the UK’s leading chain of building merchants with over 600 branches across the country. (Source: www.jewson.co.uk 14/09/2015)
