Lot 60: SUBSTANTIAL FREEHOLD TOWN CENTRE PROPERTY WITH PLANNING FOR CONVERSION

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.