19 High Street & 4 Turner Street
Ramsgate
Kent
CT11 9AG

Freehold Retail and Residential Investment

  • Comprises two retail units and four self-contained one bedroom flats
  • Pedestrianised town centre location
  • Nearby occupiers include WH Smith, Boots, New Look, Caffè Nero, Poundland and EE
  • Lot
    21
  • Auction
    07/Dec/2017
  • Rent
    £36,760 per Annum Exclusive
  • Status
    Sold
  • Price*
    £325,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Receivers at CBRE
Important Property Update
  • 19 High Street & 4 Turner Street<br>Ramsgate<br>Kent<br>CT11 9AG
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Property Information

Location
Miles
5 miles south of Margate, 15 miles east of Canterbury
Roads
A28, A256, A299
Rail
Ramsgate Railway Station
Air
London Gatwick Airport
Situation

Ramsgate is a popular Kent seaside town and the property is prominently situated in the heart of the town centre, on the north side of the pedestrianised High Street close to its junction with King Street and Queen Street. Nearby occupiers include WH Smith, Boots, New Look, Caffè Nero, Poundland and EE.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with four self-contained one bedroom flats on the first, second and third floors. The residential flats are accessed from Turner Street.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

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 advisable. For more information, please click here.

Tenancy & Accomodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
19
High Street
GroundRetail/Ancillary
67.58 sq m
(727 sq ft)
THE NIFTIES
GROUP LTD to
trade as Nifties
(1)
5 years from
01/12/2017
(2)
£12,000 (2)30/11/2022
4 Turner
Street
GroundRetail/Ancillary
23.79 sq m
(256 sq ft)
INDIVIDUAL t/a
Geek Havoc
3 years from
21/11/2016
(3)
£4,00021/11/2019
 First,
Second &
Third
Residential
4 x one bedroom flats
4 x INDIVIDUALS4 x Assured
Shorthold
Tenancies
£20,760 (4)-
Total Commercial Area 
91.37 sq m
(983 sq ft)
  £36,760 

(1) Nifties is a convenience store specialising in surplus stock, short dated and damaged food items. (www.dontwastethetaste.co.uk)
(2) Heads of terms have been agreed and are in solicitors’ hands due to complete imminently. The lease will provide for a new 5 year lease to The Nifties Group Ltd at a rent of £12,000 p.a.x. subject to a mutual option to determine on the 2nd anniversary. Please refer to the legal pack for further information.
(3) The lease provides for a tenant option to determine on 21st May 2018.
(4) The four residential one bedroom flats have been let on separate Assured Shorthold Tenancies at a total rent of £20,760. Please refer to the legal pack for further information.

Property Documents

  • Site Plan
    Updated Date
    15.11.17
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    15.11.17
    File Size
    919 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

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