Lot 130 Valuable Freehold Town Centre Retail And Residential InvestmentAuction Date:
14th December 2022
116-118 High Street, Sittingbourne, Kent, ME10 4PL
Currently let at £39,300 per annum
A substantial property with accommodation arranged over three floors situated in a busy location in the town centre, close to the entrance of The Forum shopping centre and other major retailers including Boots, Wilkos/Wilkinson, Santander and HSBC. The mainline commuter railway station is also within close proximity.
The building has been divided to provide an extensive ground floor double-fronted retail unit with preparation and ancillary accommodation to the rear, together with three self-contained residential units on the first and second floors.
Ground Floor
Double fronted retail area, preparation rooms at rear and cold stores, staff room and W.Cs.
Tenancy
Let on a Commercial Lease for a term of five years, from 19th May 2022, at a current rental of £27,000 per annum. The initial rent-free period ends on 27th January 2023.
First Floor
Flat 1-VACANT
Entrance hall, living room/bedroom, kitchen/dining room and shower room/W.C.
Flat 2
Entrance hall, living room/kitchen, separate bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £525 per calendar month.
Second Floor
Flat 3
Entrance hall, living room/bedroom, kitchen, store room and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month.
Outside
Rear vehicular access.
Viewing Notes
It will not be possible to provide access to the Ground Floor Retail Unit on viewing days. Please meet at the rear of the property where there is access to the flats
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
