Ground and Lower Ground Floor Restaurant with 6 room flat on First Floor
Restaurant Let until 2034 (No Breaks)
Popular Town Centre Location within 180 metres of Gillingham Railway Station
Nearby Occupiers include Iceland, Costa, Poundland, New Look and Sports Direct
Lot 40
Auction 18th May 2023
Rent £36,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
8 miles north of Maidstone, 30 miles east of Central London
Roads
M2, A231, A2
Rail
Gillingham Railway Station
Air
London Stanstead Airport
Situation
Gillingham is a large town in Kent with a population of over 100,000. The property is situated on the eastern side of King Street in the busy town centre, within 180 metres (200 yards) of Gillingham Railway Station. Nearby occupiers include Wilko, Costa, Poundland, New Look and Sports Direct.
Tenure
Freehold.
Location
Miles
8 miles north of Maidstone, 30 miles east of Central London
Roads
M2, A231, A2
Rail
Gillingham Railway Station
Air
London Stanstead Airport
Situation
Gillingham is a large town in Kent with a population of over 100,000. The property is situated on the eastern side of King Street in the busy town centre, within 180 metres (200 yards) of Gillingham Railway Station. Nearby occupiers include Wilko, Costa, Poundland, New Look and Sports Direct.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant and lower ground floor ancillary accommodation together with a self-contained six room plus kitchen and WC flat on the first floor. The residential upper parts are accessed via a separate door fronting King Street.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant and lower ground floor ancillary accommodation together with a self-contained six room plus kitchen and WC flat on the first floor. The residential upper parts are accessed via a separate door fronting King Street.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Review/(Reversion)
Ground Lower Ground
Restaurant Ancillary
88.20 95.50 (1)
(949) (1,027) (1)
GURKHAS INN LIMITED t/a Sizzling Lounge (2)
12 years from 25/10/2022
£36,000
25/10/2027 (24/10/2034)
First
Residential
6 rooms plus kitchen and WC (3)
-
-
-
Total Approximate Commercial Floor Area
183.70
(1,976)
£36,000
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (2) Sizzling Lounge is a popular Indian and Nepalese restaurant (www.sizzlinglounge.co.uk). (3) The Receivers and the Auctioneer have been unable to inspect the upper floors of the Property and therefore no information regarding the layout, condition and occupation of the upper floors of the Property is available. Interested parties should refer to the legal pack for the updated Special Conditions/Auction Contract.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
