Lot 81

FREEHOLD COMMERCIAL INVESTMENT WITH RESIDENTIAL GROUND RENT

11-15 (odds) Ashford Road, Tenterden, Kent, TN30 6AB
11-15 (odds) Ashford Road, Tenterden, Kent, TN30 6AB
JULY AUCTION

Currently let at £22,550 per annum

Situated on Ashford Road, adjacent to the Royal Mail post office in a small parade of shops yet within walking distance of the main High Street are these three commercial investment shops and flat on the upper parts. The flat has been sold on a 999-year lease at a peppercorn ground rent.

11 Ashford Road

Let to a shoe repair and key cutting business.

Tenancy

Let under the terms of a 15-year lease from March 2011 at a current rental of £5,500 per annum.

VOA

VOA (Valuation Office Agency) website shows the following:
Ground Floor Retail Zone A - 13.5 sq.m. Ground Floor Staff Toilets - 1.44 sq.m.

13 Ashford Road

Let to a nail salon.

Tenancy

Let under the terms of a 5- year lease from 1st May 2022 at a current rental of £6,600 per annum rising to £6,900 per annum in May 2024.

VOA

VOA (Valuation Office Agency) website shows the following:
Ground Floor Retail Zone A - 16.2 sq.m. Ground Floor Retail Zone B - 1.4 sq.m. Ground Floor External Storage - 13.3 sq.m.

15 Ashford Road

Let to a hair salon.

Tenancy

Let under the terms of a 5 year lease from 1st May 2022 at a current rental of £10,450 per annum rising to £10,925 per annum in May 2024.

VOA

VOA (Valuation Office Agency) website shows the following:
Ground Floor Retail Zone A - 16.6 sq.m. Ground Floor Retail Zone B - 1.3 sq.m. Ground Floor Kitchen - 6.5 sq.m. First Floor Staff Toilets

First Floor Flat

Sold on a 999-year lease from 2004 at a peppercorn ground rent plus 40% insurance and maintenance contributions.

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/