Prominent corner building within Ramsgate town centre
Two minutes walk from the High Street
Located in busy Kent town
Outstanding 2013 rent review
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 96
Auction 7th July 2016
Rent £5,800 per Annum Exclusive
Status Sold
Price £47,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail
Air
Manston Airport, London Gatwick
Situation
Ramsgate is a busy town on the east coast of Kent, with excellent links to the M2 via the A253. The property is located within the town centre on the eastern side of Effingham Street at it's junction with George Street. The pedestrianised High Street is within a two minute walk and houses retailers including Argos, Greggs, WH Smith, New Look and Boots.
Tenure
Freehold.
Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail
Air
Manston Airport, London Gatwick
Situation
Ramsgate is a busy town on the east coast of Kent, with excellent links to the M2 via the A253. The property is located within the town centre on the eastern side of Effingham Street at it's junction with George Street. The pedestrianised High Street is within a two minute walk and houses retailers including Argos, Greggs, WH Smith, New Look and Boots.
Tenure
Freehold.
Description
The property is a Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. There are two residential flats on the upper floors and a ground floor retail unit to the rear which have been let on 125 year leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is a Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. There are two residential flats on the upper floors and a ground floor retail unit to the rear which have been let on 125 year leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
41
Ground Basement
Retail Ancillary
35.40 sq m 13.70 sq m
(381 sq ft) (147 sq ft)
INDIVIDUALS t/a Bliss Salon
6 years from 13/09/2010
£5,500
13/09/2013 (1) (12/09/2016)
41a
First
Residential
Not measured
INDIVIDUAL
125 years from 01/01/2005 until 31/12/2130 (2)
£100
01/01/2038, 01/01/2071 and 01/01/2104 (3)
41b
Second
Residential
Not measured
INDIVIDUAL
125 years from 01/01/2005 until 31/12/2130 (2)
£100
01/01/2038, 01/01/2071 and 01/01/2104 (3)
2a George Street
Ground
Retail
Not measured
INDIVIDUAL
125 years from 01/01/2005 until 31/12/2130 (2)
£100
01/01/2038, 01/01/2071 and 01/01/2104 (3)
Total Commercial Area
49.10 sq m
(528 sq ft)
£5,800
(1) The 13th September 2013 rent review is outstanding. (2) The seller has served notices on the residential lessees under Section 5B of the Landlord and Tenant Act 1987. (3) The lease provides fixed rental increases to £200 in 2038, £300 in 2071 and £400 in 2104.