27 Cecil Park Herne Bay Kent CT6 6DL

27 Cecil Park
Herne Bay
Kent
CT6 6DL

Freehold Housing Association Let Care Home Investment

  • Recently let on new 25 year FRI lease from June 2017 (no breaks)
  • Entirely let to Kindstream Housing CIC – a social housing provider registered with Homes England (formerly The Homes & Community Agency), which receives its funding directly from local authorities
  • Annual CPI-linked Rent Reviews
  • Recently refurbished large care home in popular coastal town
  • VAT-free investment
  • Lot
    66
  • Auction
    24th May 2018
  • Rent
    £52,500 per Annum
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Medical/Healthcare
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Housing Association Let Care Home Investment

  • Recently let on new 25 year FRI lease from June 2017 (no breaks)
  • Entirely let to Kindstream Housing CIC – a social housing provider registered with Homes England (formerly The Homes & Community Agency), which receives its funding directly from local authorities
  • Annual CPI-linked Rent Reviews
  • Recently refurbished large care home in popular coastal town
  • VAT-free investment
  • Lot 66
  • Auction 24th May 2018
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Medical/Healthcare
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
8 miles north of Canterbury, 15 miles west of Ramsgate
Roads
A2, A28, A299, M2 (Junction 7)
Rail
Herne Bay Railway Station
Air
London Gatwick Airport
Situation

The property is situated on the northern side of Cecil Park, close to Herne Bay town centre and a short walk away from Herne Bay Railway Station and seafront.

Tenure

Freehold.

Location
Miles
8 miles north of Canterbury, 15 miles west of Ramsgate
Roads
A2, A28, A299, M2 (Junction 7)
Rail
Herne Bay Railway Station
Air
London Gatwick Airport
Situation

The property is situated on the northern side of Cecil Park, close to Herne Bay town centre and a short walk away from Herne Bay Railway Station and seafront.

Tenure

Freehold.

Description

The property comprises a large recently refurbished specialist supported living care home with 7 x one bedroom apartments, each with kitchenette and shower room, arranged on ground, first and second floors. The propertybenefits from a garden to the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be one block viewing date for this property. Please contact: George Watkins E: george.watkins@acuitus.co.uk

Completion Period

Seven Week Completion

EPC

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

Description

The property comprises a large recently refurbished specialist supported living care home with 7 x one bedroom apartments, each with kitchenette and shower room, arranged on ground, first and second floors. The propertybenefits from a garden to the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be one block viewing date for this property. Please contact: George Watkins E: george.watkins@acuitus.co.uk

Completion Period

Seven Week Completion

EPC

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

Tenancy & Accommodation

Floor Use Tenant Term Rent p.a.x Future Reviews
Ground

First
Second
3 x one bedroom
apartments/communal kitchen
3 x one bedroom apartments
1 x one bedroom apartment
KINDSTREAM
HOUSING CIC
(1)
25 years from
16/06/2017 until
15/06/2042 on a
full repairing and
insuring lease
£52,500 (2) CPI linked review on
16/06/2018 and
annually thereafter
Total
    £52,500 (2)  

(1) Kindstream Housing CIC have changed their name to Falcon Housing Association CIC. Falcon Housing Association CIC are a social housing provider who work closely with local authorities, property developers and care providers to provide high quality housing and tailored support to tenants (Source: www.falconha.org 20/04/2018).
(2) This number is an estimate of the rent from the day of completion (the current rent is £51,220 per annum), based on the current CPI Indexation figure of 2.5% for March 2018, and is for informational purposes only. The rent will be reviewed on 16th June 2018 to the higher of the existing rent and the rent increased in accordance with the annual increase in CPI (the increase being calculated by reference to the CPI for the month before the rent review versus the CPI for the month in the year prior). However, the Vendor has agreed to adjust the completion monies as though this review took place on the basis of a 2.5% increase from the current rent.

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    551 KB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    638 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Stephenson Harwood LLP 1 Finsbury Circus
London
EC2M 7SH
Toby Farmiloe 020 7329 4422toby.farmiloe@shlegal.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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