Lot 48

FREEHOLD COMMERCIAL INVESTMENT

14 Leysdown Road, Leysdown-on-Sea, Kent, ME12 4RE
14 Leysdown Road, Leysdown-on-Sea, Kent, ME12 4RE
Sold £118,000

Currently let at £3,500 per annum

This single storey commercial unit has been operating for many years as a licenced betting office and is situated in the heart of this seaside town.

Tenancy

The tenants, William Hill Plc (formerly Mecca Book Makers Ltd), are holding over under the terms of an original Commercial Lease for a term of 15 years from 25th March 1992 and paying the original rental of £3,500 per annum.

A Section 25 Notice has been served on the tenants and it has been agreed that the time limit for concluding negotiations for a new lease has been extended to 16th July 2019. Further information will be available to download from the Clive Emson website or inspection at the Auctioneer's Office.

Business Rates

The current rateable value for the premises is £8,600 effective from 1st April 2017.

Viewing

Strictly by prior confirmed appointment with the Auctioneer's Office. Interested applicants are required not to contact the tenant directly.

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/