Lot 62 - HIGH STREET COMMERCIAL INVESTMENT

Sold £165,000

On the Instructions of the Trustees

Currently let at £15,000 per annum

Situated towards the bottom end of the High Street in the County Town of Maidstone is this commercial investment, currently occupied and trading as 7 Miles Korean and Chinese Cuisine Restaurant, occupying the ground and basement floors. The property is a Grade II Listed Building.

Tenancy

Let under the terms of an occupational lease from 13th February 2018 at a current rental of £15,000 per annum. The lease expires on 4th May 2035 with a rent review on 4th May 2020.

Viewing

Strictly by prior confirmed appointment with the Auctioneers Office. Interested applicants are requested not to contact the tenants directly.

Tenure

Head leasehold interested 300 years from 1st March 2001 at a peppercorn ground rent.

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/