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7 bedroom mixed use for sale

23 Marine Gardens, Margate, Kent, CT9 1UH and 82 & 82A High Street, Margate, CT9 1DT

Guide Price* £480,000

Property Description

Key features

  • Available Post Auction
  • Auction Date : 31 October 2016
  • Lot Number : 26
  • Freehold Investment In Prominent Location
  • Mixed Commercial/Residential
  • Freehold
  • *Guide Price : 480,000 - 490,000

Full description

A substantial property with accommodation over three floors situated in a prime location in the central shopping area of Margate with frontages along Marine Gardens and a corner position in the High Street.

Major retailers in the immediate area include Boots, Costa Coffee and Primark.

The building is arranged to provide three ground floor commercial units together with two self-contained residential units on the first and second floors.

82 High Street
Ground Floor
Retail/customer area.

Basement
Cloakroom with W.C., repair room with kitchenette and three further rooms.

Tenancy
Let on a 10 year lease from 1st September 2016 at a current rental of £300 per week. The property is currently trading as Hiltons.

82A High Street
Ground Floor
Office and customer area. The premises has sole use of a cloakroom with W.C. located on the first floor of 23 Marine Gardens.

Tenancy
Let on a 10 year lease from 1st September 2016 at a current rental of £5,000 per annum.

23 Marine Gardens
Ground Floor
Customer/retail room.

Cellar
Kitchen/preparation area.

Outside
Cloakroom with W.C.

Tenancy
Let on a 10 year lease from September 2016 at a current rental of £5,000 per annum.

Residential
Separate access to front.
23A Marine Gardens
Ground Floor
Communal entrance.

First Floor
Entrance hall, kitchen, bedroom, living room and bathroom with W.C.

Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £125 per week.

23B Marine Gardens
Second Floor
Entrance hall, living room, kitchen, cloakroom with W.C., bathroom with W.C. and five further rooms.

Tenancy
Let on a room by room basis with communal kitchen and wash facility. We understand the property is currently fully let and generating an income of £1,200 per calendar month.

Auctioneer’s Note
At the time of publication, the Auctioneers have been unable to inspect the whole property. Interested applicants are advised to make their own enquiries to verify the details provided.

Viewing
Strictly by prior arrangement with the Auctioneer's Office. Interested applicants are advised not to contact the tenants direct.

Residential EPC: E

Commercial EPC: D

Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.


Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.


More information from this agent

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Clive Emson Auctioneers, Maidstone on 0345 8500333.


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