Lot 102 Existing Commercial Site & Buildings Currently Let With Previous Planning For 14 FlatsAuction Date:
8th February 2023
Paragon House, Granville Road, Maidstone, Kent, ME14 2BJ
Currently let at £37,764 per annum
A substantial commercial property situated in a mixed residential and commercial area, situated conveniently for the town centre and mainline commuter railway station.
Planning permission has previously been granted by Maidstone Borough Council for redevelopment of the site with fourteen flats, each providing two-bedroom accommodation, in two blocks with central car parking facilities.
Opposite the site is a new residential scheme of flats which is nearing completion, which is to be known as Adolphus House.
Planning
Outline Planning Permission has previously been granted (now lapsed) by Maidstone Borough Council dated 27th May 2014 for the erection of fourteen flats in two blocks.
Tenancies
The premises are currently let in different sections to seven separate tenants, currently producing a total rental income of £33,174 per annum. Further details will be available within the legal documentation which can be downloaded from the Clive Emson website.
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
