Lot 42: TOWN CENTRE INVESTMENT WITH FUTURE POTENTIAL

Commercial Investment - Swale Area
Commercial Investment - Swale Area
View from Lesley Smith Drive
Commercial Investment - Swale Area
View towards Market Place
Commercial Investment - Swale Area
View towards Preston Street
Commercial Investment - Swale Area
Available At £925,000 + Fees
10-11 Market Street, Faversham, Kent. ME13 7AA

Currently let at £96,000 per annum

Further information from Clive Emson Auctioneers

01622 608400

Kevin Gilbert

Located on the southern side of Market Street, close to various retailers, banking facilities and Estate/Letting Agents, including Superdrug, Specsavers, Boots, Nationwide and NatWest.

The former Woolworths store has its main entrance on Market Street with loading facilities from Bank Street Car Park and a further side entrance on Lesley Smith Drive (which leads from Bank Street Car Park to Market Place).

Roof Space

Tenancy

Let under the terms of a 10 year lease from 30th June 2009 at a current rental of £11,000 per annum. We understand notice has been given and they are due to vacate in January 2021.

Ground & First Floor

Tenancy

Let under the terms of a 15 year lease from 26th June 2009 at a current rental of £85,000 per annum. Currently trading as Multi-Save.

EPC Information

Total useful floor area 1,524 sq m (16,404 sq ft).
EPC C (56).

VOA Website Information

Ground Floor

Retail zone A 64.5 sq.m. Retail zone B 62 sq.m. Retail zone C 59.8 sq.m. Remaining retail 562.5 sq.m. Office 16.1sq.m. External Storage 13.6sq.m.

First Floor

Store – 496 sq.m.

Outside

Car Park spaces – four.

Auctioneer’s Note

The information provided from the VOA website/EPC register has not been verified by the Auctioneers. Prospective bidders should rely on their own inquiries to verify the information.

Planning

Planning Permission was granted by Swale Borough Council under reference 16/503847/FULL, dated 7th March 2017, for alterations and part first floor and new second floor extension to provide 13 residential apartments with new residential access. New timber shop front to existing ground floor retail premises, subject to conditions. This planning permission has now lapsed. Copies of the planning permission, accompanying drawings and other information is available via Swale Borough Council’s website.

Lapsed Planning Proposed Accommodation

A ground floor retail unit is retained, 13 apartments comprising five two-bedroom and eight one-bedroom flats with access via Lesley Smith Drive.

Tenure

The majority of the site is freehold with a smaller part (to the rear) being leasehold.

Commercial EPC: C

Map

Loading…

The map and satellite images are based on postcode information and are available for directions only. They may not necessarily show the exact lot being offered, but will be in close proximity. Please refer to the sale plan in the legal documentation for precise details of the lot to be sold.