Lot 32: COMMERCIAL PROPERTIES WITH YARD AND ADVERTISING HOARDING INCOME WITH POTENTIAL

Sold £320,000

A collection of retail units with upper parts, yard and advertising hoardings standing on a site extending to 0.07 hectares (0.17 acres). The property is located just off the main High Street.

13 Church Street (Vacant)

Ground Floor

Retail unit (previously a dry cleaners).

13A Church Street (Vacant)

Ground Floor

Former café premises.

13/13A Church Street (Vacant)

First Floor

Separate access from Church Street, most recently used as a tattoo parlour.

15A & 17 Church Street

Ground Floor

Detached single storey shop with yard and mechanical workshop extending to the side and rear of the three properties.

Tenancy

Holding over under the terms of a Licence to Occupy, from 14th September 2015 (expired 16th January 2018), at a current rental of £6,492 per annum.

Advertising Hoarding

Three separate advertising hoardings. The tenants, JC Decaux UK Limited, are holding over under the terms of a five year Advertising Agreement, from 1st February 2009, at a current rental of £3,400 per annum.

Planning

Full Planning Permission has been granted by Medway Council, under ref: MC/16/4304, dated 26th May 2017, for demolition of existing buildings and construction of a Part 5/6 storey building to accommodate retail premises at ground floor level and 21 residential flats on the upper levels, subject to conditions.
A copy of the Planning Consent and proposed plans will be available to download from the Clive Emson website or inspection at the Auctioneer’s Office.

Auctioneer’s Note

It is understood there is an existing main sewer which runs through the site and this would need to be re-routed to facilitate this development.

Freehold with Part Vacant Possession

Commercial EPC: D