Lot 56

RARE OPPORTUNITY! SUBSTANTIAL FREEHOLD BLOCK WITH GOOD POTENTIAL ON SEAFRONT

12 & 13 Marine Gardens, Margate, Kent, CT9 1UN
12 & 13 Marine Gardens, Margate, Kent, CT9 1UN
UNSOLD

Situated in a prominent position, opposite the Clock Tower on Margate's seafront, are these two freehold blocks comprising a mix of six residential units and three commercial units. The flats located in 12 Marine Gardens require total refurbishment.

The buildings have potential for a number of future uses and, once refurbished/improved, would provide a good rental income, or possible change of use to a hotel which would benefit from the seafront position, subject to all necessary consents being obtainable.

There is also potential to add another floor to provide additional residential accommodation above numbers 1 and 2 Belgrave Road, again, subject to all necessary consents being obtainable.

12 Marine Gardens

Ground Floor

Shop floor, further room and cloakroom with W.C. Cellar.

Tenancy

Trading as Clock Tower Kebab under the terms of a 25 year lease from 4th April 1996 at a current rental of £7,800 per annum.

First Floor

Flat 1

Five rooms.

Second Floor

Flat 2

Five rooms.

Third Floor

Flat 3

Five rooms.

Flat 4

Five rooms.

13 Marine Gardens

Ground Floor (Vacant)

Shop floor, storage area, cloakroom with W.C. Cellar.

First Floor

Flat 1

Entrance hall, living room, kitchen, bedroom and bathroom with W.C.

Flat 2

Entrance hall, living room, kitchen, bedroom and shower room with W.C.

1 & 2 Belgrave Rd (Vacant)

Ground Floor

Kitchen, restaurant, seating area, male and female W.C.s. Cellar.

Local Planning Authority

Thanet District Council. Tel: 01843 577000. Website: thanet.gov.uk.

Viewing

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

Freehold with Part Vacant Possession

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/