Lot 55

FREEHOLD TOWN CENTRE RESIDENTIAL AND COMMERCIAL INVESTMENT

38 High Street, Ramsgate, Kent, CT11 9AG
38 High Street, Ramsgate, Kent, CT11 9AG
Sold After

Currently let at £30,200 per annum

Located in the pedestrianised area of Ramsgate High Street, close to the marina and nationwide retailers, is this freehold three storey building. The property is arranged as a ground floor shop let to Shoe Zone and a three bedroom maisonette recently refurbished to a high standard, and is accessed to the rear via Cavendish Street.

Ground Floor

Large shop floor, stock room and second stock room to rear, staff room and W.C.s.

Cellar

Large stock room.

Tenancy

Let under the terms of a five year lease, from 26th February 2016, at a current rental of £20,000 per annum.

A copy of the lease will be available to download from the Clive Emson website or inspection at the Auctioneer's Office.

First Floor (Accessed Via Cavendish Street)

Hallway, kitchen/diner and living room and shower room with W.C.

Second Floor

Landing, three double bedrooms and bathroom with shower and W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £850 per calendar month.

Viewing

Viewers are advised to meet at the front of the property outside of Shoezone.

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 cliveemson.co.uk/buyers-fees/