28-32 Gabriels Hill Maidstone Kent ME15 6JG

28-32 Gabriels Hill
Maidstone
Kent
ME15 6JG

Substantial Virtual Freehold Leisure Investment

Let to Epic Bars (Maidstone) Limited (t/a Ovation Nightlcub)
New 15-year lease from May 2023 (No breaks)
5-yearly RPI increases (minimum 2% pa compound, maximum 4% pa compound)
Approximately 16,047 sq ft (GIA)
Prominent town centre location, close to The Mall Shopping Centre
Nearby occupiers include Sainsburys, Iceland, Boots the Chemist, Superdrug, Starbucks, McDonald's, Harry's Cocktail Bar and JD Wetherspoon

Lot
23
Auction
7th November 2024
Rent
£115,000 per Annum Exclusive
rising to £120,000 p.a.x. in 05/2025 (2)
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Substantial Virtual Freehold Leisure Investment

Let to Epic Bars (Maidstone) Limited (t/a Ovation Nightlcub)
New 15-year lease from May 2023 (No breaks)
5-yearly RPI increases (minimum 2% pa compound, maximum 4% pa compound)
Approximately 16,047 sq ft (GIA)
Prominent town centre location, close to The Mall Shopping Centre
Nearby occupiers include Sainsburys, Iceland, Boots the Chemist, Superdrug, Starbucks, McDonald's, Harry's Cocktail Bar and JD Wetherspoon

Lot 23
Auction 7th November 2024
Rent £115,000 per Annum Exclusive rising to £120,000 p.a.x. in 05/2025 (2)
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles north-east of Tunbridge Wells, 37 miles south-east of Central London
Roads: A20, A229, A249, M20 (Junction 7)
Rail: Maidstone East Railway Station
Air: London Gatwick Airport

Situation

The property is prominently situated in the heart Maidstone town centre, on the west side of Gabriels Hill, which leads directly to The Mall Shopping Centre. Nearby occupiers include Sainsburys, Iceland, Boots the Chemist, Superdrug, Starbucks, McDonald's, Harry's Cocktail Bar and JD Wetherspoon.

Tenure

Long Leasehold. Held for a term of 999 years from 18/12/2002 at a fixed rent of £25 pa.

Location

Miles: 17 miles north-east of Tunbridge Wells, 37 miles south-east of Central London
Roads: A20, A229, A249, M20 (Junction 7)
Rail: Maidstone East Railway Station
Air: London Gatwick Airport

Situation

Tenure

Long Leasehold. Held for a term of 999 years from 18/12/2002 at a fixed rent of £25 pa.

Description

The property comprises a nightclub arranged on the ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Description

The property comprises a nightclub arranged on the ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas Approx sq m	Gross Internal Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Rent Reviews
Ground Basement First Second	Nightclub Ancillary Nightclub Nightclub	481.00 63.00 505.00 442.00	(5,177) (678) (5,435) (4,757)	EPIC BARS (MAIDSTONE) LIMITED (1) (t/a Ovation)	15 years from 12/05/2023 on a full repairing and insuring lease	£115,000 rising to £120,000 in May 2025	12/05/2028 and 12/05/2033
Total		1,491.00	(16,047)			£115,000

(1) Epic Bars (Maidstone) Limited are a subsidiary of Epic Bars and Clubs Ltd who operate 21 other nightclubs in the UK, with locations including Bath, Camberley, Cheltenham, Guildford, Salisbury and Southampton (www.ovationmaidstone.com). The Seller is holding a rent deposit of £55,000 plus VAT.

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.