Lot 57

FREEHOLD INVESTMENT ON SEAFRONT

61-63 Central Parade, Herne Bay, Kent, CT6 5JG
Sold Prior

Currently let at £68,280 per annum

This substantial freehold block is located on the seafront in the centre of Herne Bay and is fully let providing a good rental income.

The property is arranged as eight flats, two of which have been sold on long leases plus a restaurant on the ground floor. The property has sea views from the majority of the flats, off-road parking, and is considered ideal for continued investment.

A La Turka

Ground Floor

Main seating area, bar area, additional seating, ladies and gents W.Cs and commercial kitchen with walk-in fridge and freezer.

Tenancy

Let on an 18 year commercial lease, from 1st August 2012, at a current rental of £1,850 per calendar month. It is understood a rent review was due in 2018.

Access to:-

Flat 63M

Lower Ground Floor

Kitchen/diner and living room.

Ground Floor

Landing, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £730 per calendar month.

Flat 61M

Sold on a 99 year lease from 1st January 2001 at a current ground rental of £150 per half year.

Flat 63B

Kitchen, living room, hallway, two bedrooms and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £625 per calendar month.

Flat 62B

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

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £460 per calendar month.

Flat 61B

Hallway, kitchen, living room, two bedrooms and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £700 per calendar month.

Flat 63A

Sold on a 99 year lease from 28th March 2003 at a current ground rental of £150 per half year.

Flat 61A

Hallway, living room, kitchen, two bedrooms and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £775 per calendar month.

Flat 62A

Hallway, living room, kitchen, one bedroom and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £550 per calendar month.

Outside

Car park to rear for flats only.

Viewing

Strictly by prior confirmed appointment with the Auctioneer’s Office. Interested applicants are required not to contact the tenants 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/