Lot 50

PUBLIC HOUSE INVESTMENT PLUS 10 LETTING ROOMS

The Alexandra Hotel, 43 Railway Street, Chatham, Kent, ME4 4RJ
Guide Price £200,000+ * + Fees

Currently let at £26,200 per annum

Estimated rental £67,320 per annum

Viewing by arrangement with Caxtons Chartered Surveyors

Further information from Clive Emson Auctioneers

The Alexandra Hotel is located in a prominent position on a busy roundabout on the A230, which is one of the arterial roads leading towards the town centre. Chatham railway station is also close by.

The property comprises a ground floor and basement public house investment with the upper parts, accessed via its own entrance (and separate from the public house investment), currently arranged as 10 letting rooms with shared facilities.

The upper parts may be suitable for continued investment or conversion into self-contained flats, subject to all necessary consents being obtainable.

Public House Investment

Ground Floor

Open-plan bar area with servery, ladies and gents W.C.s.

Basement

Storage area.

Outside

Courtyard and smoking area.

Tenancy

The ground floor and basement are let under the terms of a 10 year lease from 8th November 2016 at a current rental of £10,000 per annum. The lease shows there was a rental increase due on 8th November 2017 to £15,000. However this has not been implemented.

There is a further rent review in November 2021 along with a mutual break option. A copy of the Occupational Lease is available for inspection within the legal pack, available to download from the Clive Emson website.

EPC Information

The property has an EPC rating of 52 (C), quoting 190 sq.m. of usable floor space.

Upper Parts

Self-contained residential accommodation comprising 10 letting rooms, with shared kitchen and bathroom facilities. Three of the rooms are currently let on Assured Shorthold Tenancy Agreements at £16,200 (combined) per annum, with potential to increase to circa £52,320 per annum if all 10 rooms were let.

Ground Floor

Own entrance with stairs to first floor.

First Floor

Landing. Room 6 is let while Rooms 1, 2, 3, 4 and 5 are vacant. Communal kitchen, bathroom and separate W.C.

Second Floor

Landing. Rooms 7 and 8 are vacant and Rooms 9 and 10 are let. Communal kitchen, living room and bathroom/W.C.

Local Planning Authority

Medway Council, 01634 331700. Website medway.gov.uk
Not Swale Borough Council as previously stated.

Auctioneer's Note

The public house accommodation has been deduced from the lease plan and the residential accommodation has been deduced from sketched plans provided by the Joint Auctioneer. The internal and outside courtyard photographs have also been provided by the Joint Auctioneer.

Freehold with Part Vacant Possession

The Alexandra Hotel, 43 Railway Street, Chatham, 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/