Lot 46

TOWN CENTRE RETAIL & RESIDENTIAL PREMISES FOR INVESTMENT

11 Gabriels Hill, Maidstone, Kent, ME15 6HL
Guide Price £450,000 – £460,000 * + Fees

Currently let at £38,700 per annum

Applicants may view the lot externally only

A three storey property located within the busy central area of a pedestrianised retail zone in the County Town of Maidstone, situated towards the top end of Gabriels Hill, close to its junction with
High Street and King Street.

The building is located within close proximity of many major retailers, including Lush, Costa Coffee, Paddy Power, HSBC Bank and the main entrances to the Chequers retail shopping centre.

Ground Floor

Retail shop.

Tenancy

Let on a commercial Lease for a term of 10 years from 2018 at a current rental of £22,500 per annum. There is a rent review and break clause after five years

Upper Parts

The upper parts are arranged as two residential flats.

Tenancy

Each flat is let on an Assured Shorthold Tenancy Agreement at £650 per calendar month and £700 per calendar month.

Freehold Investment

11 Gabriels Hill, Maidstone, Kent
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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/