41 Effingham Street & 2a George Street Ramsgate Kent CT11 9AT

41 Effingham Street & 2a George Street
Ramsgate
Kent
CT11 9AT

Freehold Retail Investment

  • Prominent corner building within Ramsgate town centre
  • Two minutes walk from the High Street
  • Located in busy Kent town
  • Outstanding 2013 rent review
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    96
  • Auction
    7th July 2016
  • Rent
    £5,800 per Annum Exclusive
  • Status
    Sold
  • Price
    £47,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Retail Investment

  • Prominent corner building within Ramsgate town centre
  • Two minutes walk from the High Street
  • Located in busy Kent town
  • Outstanding 2013 rent review
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 96
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £47,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail
Air
Manston Airport, London Gatwick
Situation

Ramsgate is a busy town on the east coast of Kent, with excellent links to the M2 via the A253. The property is located within the town centre on the eastern side of Effingham Street at it's junction with George Street. The pedestrianised High Street is within a two minute walk and houses retailers including Argos, Greggs, WH Smith, New Look and Boots.

Tenure

Freehold.

Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail
Air
Manston Airport, London Gatwick
Situation

Ramsgate is a busy town on the east coast of Kent, with excellent links to the M2 via the A253. The property is located within the town centre on the eastern side of Effingham Street at it's junction with George Street. The pedestrianised High Street is within a two minute walk and houses retailers including Argos, Greggs, WH Smith, New Look and Boots.

Tenure

Freehold.

Description

The property is a Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. There are two residential flats on the upper floors and a ground floor retail unit to the rear which have been let on 125 year leases.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is a Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. There are two residential flats on the upper floors and a ground floor retail unit to the rear which have been let on 125 year leases.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit No. Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
41 Ground
Basement
Retail
Ancillary
35.40 sq m
13.70 sq m
(381 sq ft)
(147 sq ft)
INDIVIDUALS
t/a Bliss Salon
6 years from
13/09/2010
£5,500 13/09/2013 (1)
(12/09/2016)
41a First Residential
Not measured
INDIVIDUAL 125 years from
01/01/2005 until
31/12/2130 (2)
£100 01/01/2038,
01/01/2071 and
01/01/2104 (3)
41b Second Residential
Not measured
INDIVIDUAL 125 years from
01/01/2005 until
31/12/2130 (2)
£100 01/01/2038,
01/01/2071 and
01/01/2104 (3)
2a George Street Ground Retail
Not measured
INDIVIDUAL 125 years from
01/01/2005 until
31/12/2130 (2)
£100 01/01/2038,
01/01/2071 and
01/01/2104 (3)
Total Commercial Area    
49.10 sq m
(528 sq ft)
    £5,800

(1) The 13th September 2013 rent review is outstanding.
(2) The seller has served notices on the residential lessees under Section 5B of the Landlord and Tenant Act 1987.
(3) The lease provides fixed rental increases to £200 in 2038, £300 in 2071 and £400 in 2104.

Property Documents

  • Site Plan
    Updated Date
    13.11.19
    File Size
    49 KB
    View PDF
  • Catalogue Page
    Updated Date
    13.11.19
    File Size
    498 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
029 2046 4347
David Farmer 029 2047 7887davidfarmer@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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