Lot 44 - FREEHOLD RESIDENTIAL INVESTMENT

Sold £204,000

Currently let at £9,910.16 per annum

Rent increase on 1st April 2022 to £10,881.52 per annum

The Tideway lies to the east of Maidstone Road (B2097) approximately 3 miles south of the town centres of Rochester, Chatham and Gillingham. Number 308 is an ex-Local Authority end-terrace property with gardens to the front, side and rear.

Ground Floor

Entrance vestibule, living room and open plan to dining area, kitchen and utility room.

First Floor

Three bedrooms, bathroom and separate W.C.

Outside

Gardens to front, side and rear.

Occupancy Agreement

The property is currently let under an Occupancy Agreement (commenced 1st November 1993) at a contractual rental of £190.58 per week. The Agreement allows for annual increases (on 1st April) in line with the Retail Prices Index (RPI), plus 2%, therefore on 1st April 2022 the rent will increase to £209.26 per week.

NB - The original occupancy agreement dated 1993 contained 4 named parties, however in 2014 only one occupant remained and therefore a new occupancy agreement was created, dated 1 October 2014.

Auctioneer's Note

the property has not been inspected by the Auctioneers. The details have been provided by the seller and interested applicants should rely on their own investigations to verify the information provided.

Viewings

There will be no internal viewings and interested applicants are requested not to contact the occupants direct.

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/