Lot 60

SUBSTANTIAL FREEHOLD TOWN CENTRE PROPERTY WITH PLANNING FOR CONVERSION

1-3 Rhode Street, Chatham, Kent, ME4 4AL
Sold After

A substantial property with extensive accommodation over two/three floors situated in Chatham’s busy town centre. The building has planning for conversion to provide nine self-contained flats and one retail unit.

Planning

Planning Permission has been granted by Medway Council under ref: MC/18/3094 dated 13th December 2018, for change of use of the existing building to provide nine residential units comprising six one-bedroom and three two-bedroom flats and one retail unit with associated external alterations, subject to conditions.

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.

Proposed Accommodation

Retail Unit

Ground Floor

Floor area 158 sq.m. (1,700 sq.ft.).

Residential

Ground Floor

Flat 1

One bedroom. Floor area 40.4 sq.m.(434 sq.ft.).

Flat 2

One bedroom. Floor area 44.6 sq.m. (480 sq.ft.).

First/Second Floor

Flat 3

One bedroom. Floor area, 64 sq.m. (688 sq.ft.).

Flat 4

One bedroom. Floor area 67.3 sq.m. (724 sq.ft.).

Flat 5

Two bedrooms. Floor area 71.1 sq.m. (765 sq.ft.).

Second Floor

Flat 6

Two bedrooms. Floor area 75.sq.m. (812 sq.ft.).

First Floor

Flat 7

One bedroom. Floor area 50.1 sq.m. (539 sq.ft.).

Flat 8

One bedroom. Floor area 46.9 sq.m. (504 sq.ft.).

First/Second Floor

Flat 9

Two bedrooms. Floor area 814 sq.ft. 75.7 sq.m.

Tenancy

Let under the terms of a five year commercial lease, from 1st April 2016, at the current rental of £13,000 per annum.

The landlords (the sellers) have served a notice to the tenants, dated 27th June 2019, to effect a landlord break clause under Section 5.13 of the lease terms, for the vacant possession to be provided on the 1st April 2020.

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/