Lot 17 Freehold Investment Of Three Shops Plus Residential Ground RentAuction Date:
28th July 2022
11-15 (Odds), Ashford Road, Tenterden, Kent, TN30 6AB
Currently let at £22,550 per annum
An attractive Grade II Listed property, 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 a flat on the upper parts.
The flat has been sold on a 999-year lease at a peppercorn ground rent.
All three commercial tenants have been in occupation for some time with numbers 13 and 15 having recently renewed their lease.
11 Ashford Road
Let to a shoe repair and key cutting business.
Tenancy
Let under the terms of a 15-year lease, from 25th December 2010, at a current rental of £5,500 per annum.
VOA
VOA (Valuation Office Agency) website shows the following accommodation
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 five-year lease, from 1st June 2022, at a current rental of £6,600 per annum, rising to £6,900 per annum on 1st 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 five-year lease, from 1st June 2022, at a current rental of £10,450 per annum rising to £10,925 per annum on 1st 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.
Residential
First Floor Flat
Sold on a 999-year lease, from 13th June 2014, at a peppercorn ground rent, plus 40% insurance and maintenance contributions.
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
