Lot 55: ***REVISED GUIDE PRICE*** SUBSTANTIAL TOWN CENTRE COMMERCIAL INVESTMENT WITH UPPER PARTS WITH POTENTIAL FOR CONVERSION

Commercial Investment - Medway Area
Commercial Investment - Medway Area
General view of Military Road
Commercial Investment - Medway Area
Guide Price £220,000 – £225,000 *
9 Military Road,
Chatham,
Kent. ME4 4JG

Currently let at 22,000 per annum - Rising to 23,000 per annum (Plus vacant second floor offices)

Viewing by arrangement with Clive Emson Auctioneers

01622 608400

John Stockey/Ben Snelling

*****REVISED GUIDE PRICE*****

A substantial and attractive four storey building fronting Military Road in the pedestrianised town centre in close proximity to the main bus station terminal and the entrance to the Pentagon Shopping Centre. The property is divided to provide a ground floor retail unit, together with three floors of office accommodation above.

It is considered that there is potential for conversion of the upper parts to provide self-contained flats, subject to all necessary consents being obtainable. Interested applicants are advised to make their own enquiries with the Local Planning Authority, Medway Council. Tel: 01634 331700. Website: medway.gov.uk.

Ground Floor

Retail unit.

Tenancy

Let for a term of five years from 24th August 2015 at a current rental of 16,000 per annum with a rent review after 3 years.

First Floor

Landing with two offices.

Tenancy

Let for a term of 3 years from 17th June 2016 at a current rental of 4,000 per annum.

Second Floor

Three rooms.

Tenancy

Let for a term of three years from 1st September 2015 at a current rental of 2,000 per annum. The rent will rise to 3,000 per annum after 2 years.

Top Floor - Vacant

Three rooms.

Tenure

**REVISED INFORMATION**

Remainder of a 125 year lease from 25th December 1982 at a ground rent of 2200 per annum.

Leasehold with Part Vacant Possession

Commercial EPC: D

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