43 / 49 High Street Margate Kent CT9 1DK

43 / 49 High Street
Margate
Kent
CT9 1DK

Virtual Freehold Restaurant Investment

Let to Caskade Caterers Limited (t/a KFC) until 2023
Triple-fronted property in popular Kent resort town
Approximately 353.94 sq m (3,810 sq ft)
Nearby occupiers include Primark, New Look, Boots the Chemist, Superdrug and WH Smith
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
15
Auction
26th March 2015
Rent
£47,500 per Annum Exclusive
Status
Sold
Price
£500,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Virtual Freehold Restaurant Investment

Let to Caskade Caterers Limited (t/a KFC) until 2023
Triple-fronted property in popular Kent resort town
Approximately 353.94 sq m (3,810 sq ft)
Nearby occupiers include Primark, New Look, Boots the Chemist, Superdrug and WH Smith
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 15
Auction 26th March 2015
Rent £47,500 per Annum Exclusive
Status Sold
Price £500,000
Sector
Restaurant
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 16 miles north-east of Canterbury, 4 miles north-west of Ramsgate
Roads: A28, M2, M20
Rail: Margate Railway Station
Air: London Gatwick Airport

Situation

The property is situated in a prominent corner location on High Street at its junction with Bilton Square in Margate town centre. Nearby occupiers include Primark, Boots the Chemist, WH Smith, Specsavers and Barclays Bank.

Tenure

Virtual Freehold. for a term of 999 years from 25th December 2003 at a peppercorn rent.

Location

Miles: 16 miles north-east of Canterbury, 4 miles north-west of Ramsgate
Roads: A28, M2, M20
Rail: Margate Railway Station
Air: London Gatwick Airport

Situation

Tenure

Virtual Freehold. for a term of 999 years from 25th December 2003 at a peppercorn rent.

Description

The property comprises a restaurant arranged on the ground floor and basement, forming part of a larger building.

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 applicable to this lot.

EPC

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

Description

VAT

VAT is 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	Reviews/(Reversion)
Ground Basement	Restaurant Ancillary	176.04 sq m 177.90 sq m	(1,895 sq ft) (1,915 sq ft)	CASKADE CATERERS LIMITED (1) (t/a KFC)	20 years from 17/11/2003 on an effectively full repairing and insuring lease	£47,500	17/11/2018 17/08/2023 (16/11/2023)
Totals		353.94 sq m	(3,810 sq ft)			£47,500

(1) For the year ending 30/11/2013, Caskade Caterers Limited reported a turnover of £23,262,692, pre-tax profits of £1,481,005 and a total net worth of £1,407,056. (Source: www.riskdisk.com 24/02/2015). A rent deposit of £23,850 is held.