High Street, Sittingbourne, Kent, ME10 4PD
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- Freehold
- By appointment with the Auctioneers
Description
COMMERCIAL INVESTMENT WITH REDEVELOPMENT POTENTIAL: A GRADE TWO LISTED BUILDING WITH POTENTIAL FOR RESIDENTIAL CONVERSION OF UPPER FLOORS
A Grade II listed vacant freehold building over three levels in the heart of Sittingbourne town centre. A planning application has been made for Listed Building Consent for internal and external works in connection with conversion of commercial unit to 1no. three bedroom first floor apartment with alterations to ground floor doors and windows. The property was recently let for £36,000 per annum which represents a yield of 10% of the guide price.
We are advised that the property was previously let as a Hairdressing salon for £36,000 per annum which if re-let for the same figure would represent a yield of 10% of the guide price. Details of the former lease can be found within the legal pack. Buyers will need to conduct there own investigations into the potential rental income and resale value of the proposed re-development.
The planning application for the conversion of the first floor to a residential apartment was awaiting a decision at the time this catalogue was printed however we are advised that a decision is expected imminently. For details of the application please visit the Swale Borough Council website using reference 20/504881/LBC.
Commercial ground floor and basement- 178.24sqm
Three Bedroom apartment-149.21sqm
Basement-59.45sqm
Ground Floor 134.00sqm
First Floor 134.00sqm
Total-327.45sqm
High Street, Sittingbourne, Kent, ME10 4PD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Sittingbourne Station0.2 miles
- Kemsley Station1.6 miles
- Teynham Station3.1 miles
Notes
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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 Dedman Gray Auctions, Essex on 01702 311010.
*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.”
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