Lot 48

FREEHOLD INVESTMENT IN TOWN CENTRE

12 Market Street, Faversham, Kent, ME13 7AA
12 Market Street, Faversham, Kent, ME13 7AA
Available At £450,000 + Fees

Currently let at £36,050 per annum

Applicants may view the lot externally only

Located on the Southern side of Market Street, close to various retailers, including Superdrug, Specsavers and Boots, as well as estate agents/letting agents and banking facilities which include Nationwide and NatWest.

This three storey mid-terrace building is a mixed use investment with ground floor shop let to Card Factory and four flats above, two having been sold on long leases.

Card Factory

Ground Floor

Rectangular shop floor, W.C, office, staff area and storage.

Tenancy

Let under the terms of a five year commercial lease from 22nd July 2019, at a current rental of £19,250 per annum. It is understood that there was a break clause which was not exercised.

Residential

Access via rear, external staircase.

First Floor

Flat A

Entrance hall, kitchen/Living room, bedroom and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £725 per calendar month.

Flat B

Entrance hall, kitchen/Living room, bedroom and shower room with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £675 per calendar month. It is understood a new Agreement is to begin in June 2022 at a rental of £700 per calendar month.

Council Tax Band

Flats A and B are both Band A.

Flat C & Flat D

Tenure

Sold on a 125-year lease from the 25th December 2002 at a peppercorn rent.

Viewing

External only.

12 Market Street, Faversham, 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/