Lot 64 Freehold Block For InvestmentAuction Date:
1st May 2024
137 Ramsgate Road, Margate, Kent, CT9 4BJ
Currently let at £15,000 per annum
Pair of three storey properties both up for auction to be offered as individual lots.
This building is divided into two flats each with separate entrances. 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 or sold off separately. 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.
Lower Ground Floor - Flat 1
Private lower ground floor entrance, entrance hall, living room, dining room, kitchen, bedroom and stairs to first floor.
First Floor
Bathroom with W.C.
Outside
Garden to the front and rear.
Tenancy
Currently let on an Assured Shorthold Tenancy Agreement at £450 per calendar month.
Council Tax Band A
Upper Ground Floor Maisonette
Private entrance, entrance hall, living room and kitchen/diner, stairs to top floor.
Top Floor
Two rooms (front and rear bedrooms) and bathroom with W.C.
Outside
Courtyard garden to the rear.
Tenancy
Let on an Assured Shorthold Tenancy at a current rental of £800 per calendar month.
Council Tax Band A
Auctioneer’s Note
135 Ramsgate Road is to be offered in the Auction as Lot 33.
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
