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

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
7th December 2017
Rent
£36,760 per Annum Exclusive
Status
Sold
Price
£325,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Receivers at CBRE

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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 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

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

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.