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 7th December 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
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.
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
EPC
The EPC will be available to view online in the solicitor’s legal pack.
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
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
19 High Street
Ground
Retail/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
Ground
Retail/Ancillary
23.79 sq m
(256 sq ft)
INDIVIDUAL t/a Geek Havoc
3 years from 21/11/2016 (3)
£4,000
21/11/2019
First, Second & Third
Residential
4 x one bedroom flats
4 x INDIVIDUALS
4 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.
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS1 2HL
