Lot 15 Freehold Investment In Desirable Town Centre LocationAuction Date:
8th February 2023
112 West Street, Faversham, Kent, ME13 7JB
Currently let at £20,740 per annum
Situated in the centre of the historical town of Faversham is this freehold end-terrace property comprising a commercial investment, a studio flat (currently let) and a two-bedroom flat which has been sold on a long lease. The property occupies a sought after location in the pedestrianised area of the town, close to local amenities and supermarkets.
Commercial Unit
Ground Floor
Shop floor (approx 35 sq.m.)
Basement (approx 40 sq.m.)
EPC Rating D
Tenancy
Let under the terms of a six-year commercial lease, expiring in March 2028 (rent review in March 2025), at a current rental of £900 per calendar month.
Residential
Basement Flat
Accessed from Water Lane. Comprises: Kitchen, shower room with W.C. and bedroom/living room.
Floor area approx. 30 sq.m.
EPC Rating D
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £820 per calendar month.
112A West Street
Tenure
Sold on a long lease at a current ground rental of £100 per annum.
Auctioneer’s Note 1
All measurements are provided by the Seller and interested parties should rely on their own investigations.
Auctioneer’s Note 2
At the time of publication, we have been unable to gain access, interested parties are to rely on their own investigations.
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
