Seafield House 60-76 (A-D) High Street New Romney Kent TN28 8AU

  • Seafield House<br>60-76 (A-D) High Street<br>New Romney<br>Kent<br>TN28 8AU

Seafield House
60-76 (A-D) High Street
New Romney
Kent
TN28 8AU

Freehold Retail Parade Investment (with Residential Ground Rents)

  • Double-fronted bank and six shops (with residential ground rents)
  • Part let to National Westminster Bank Plc (with self-contained 2 bedroom flat included in lease)
  • Asset management opportunities
  • Attractive town on the edge of Romney Marsh
  • VAT free investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    63
  • Auction
    22nd October 2015
  • Rent
    £72,542 per Annum Exclusive
  • Status
    Sold
  • Price
    £880,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail Parade Investment (with Residential Ground Rents)

  • Double-fronted bank and six shops (with residential ground rents)
  • Part let to National Westminster Bank Plc (with self-contained 2 bedroom flat included in lease)
  • Asset management opportunities
  • Attractive town on the edge of Romney Marsh
  • VAT free investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 63
  • Auction 22nd October 2015
  • Rent £72,542 per Annum Exclusive
  • Status Sold
  • Price £880,000
  • Sector
    High Street Retail
  • 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.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Vail Williams LLP 7 - 10 Chandos Street, Cavendish Square
London
W1G 9AJ
Richard Dawtrey 020 3589 0058rdawtrey@vailwilliams.com
Seller's Solicitors
ASB Law Origin 2, 106 High Street
Crawley
RH10 1BF
Jan Martell 01293 861 225jan.martell@asb-law.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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