Lot 62: VALUABLE UNBROKEN RESIDENTIAL AND COMMERCIAL INVESTMENT WITH POTENTIAL

Postponed

A substantial block of unbroken freehold properties situated in an established residential area on a corner plot with a return frontage to New Street and close to the mainline commuter railway station and the town centre.

The buildings are arranged to provide a ground floor commercial/retail unit currently trading as a local convenience store, a pair of one bedroom flats above together with an adjoining mid-terrace house. At the rear of the premises, and with access to New Street on the return frontage, are three lock-up garages together with three car parking spaces.

55 Ordnance Street

Tenancy

Let under the terms of a 15 year commercial lease at a current rental of £1,000 per calendar month with fixed rent reviews to £1,200 per calendar month, £1,400 per calendar month and £1,600 per calendar month with further rent reviews in the fifth and tenth years from the commencement date.

55A Ordnance Street

Self-contained flat.

First Floor

Living room, kitchen, bedroom and bathroom with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £575 per calendar month.

55B Ordnance Street

Self-contained flat.

First Floor

Living room, kitchen, bedroom and bathroom with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £575 per calendar month.

53 Ordnance Street

Ground Floor

Living/dining room, kitchen and bathroom with W.C.

First Floor

Two bedrooms and bathroom with W.C.

Outside

Garden to rear.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £750 per calendar month.

Planning

Planning Permission has been granted by Medway Council under ref: MC/18/2101, dated 5th September 2018 for the construction of a block of three garages to replace the existing units.

A copy of the Planning Consent and proposed plans will be available to download from the Clive Emson website, the Local Planning Authority website or inspection at the Auctioneer’s Office.

Auctioneer’s Note

It is considered there may be potential for replacement of the existing garages with an alternative scheme of residential units, subject to all necessary consents being obtainable.

Residential EPC: D
Commercial EPC: D