Lot 33 Freehold Block For InvestmentAuction Date:
1st May 2024
135 Ramsgate Road, Margate, Kent, CT9 4BJ
Currently let at £14,020 per annum
Pair of a three storey properties both up for auction to be offered as individual lots.
This building is divided into two flats and both have separate entrances, the building has an alleyway leading to a rear garden. Margate railway station, with its high-speed train service to London, is a short distance away.
Margate has a popular seafront and Old Town, therefore the flats could be used as holiday lets in the future. Alternatively, the flats could be sold off separately and we understand the current rentals are below market prices, so there could be potential to increase the yield. Each flat has its own meters, double glazing and a gas heating system via radiators.
135A Ramsgate Rd Lower Ground Floor Flat
Private lower ground floor entrance, entrance hall, living room, dining room, kitchen, utility room and bathroom with W.C.
First Floor
Bedroom.
Outside
Courtyard garden to the front and rear.
Council Tax Band A
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £540 per calendar month.
135B Ramsgate Rd
Upper Ground Floor Maisonette
Private upper ground floor entrance, entrance hall, living room, kitchen and bathroom with W.C.
Top Floor
Two rooms (front and rear bedrooms).
Outside
Courtyard garden to the rear.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £145 per week, the rent is paid every four weeks.
Council Tax Band A
Auctioneer’s Note
137 Ramsgate Road is also offered in the auction as Lot 64.
There is an addendum available to be read
in conjunction with the legal documentation.
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 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 cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
