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

Sold £320,000

Yard & Advertising Hoardings (15A Church Street) - Currently let at £9,892 per annum

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

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/