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Lot 34 Substantial Office Space Providing High Rental Income With Potential For Further Residential/commercial SpaceAuction Date:
4th May 2023
St. Augustines Business Centre, 125 Canterbury Road, Westgate-on-Sea, Kent, CT8 8NL
Currently let at approximately £210,000 per annum Plus vacant spaces with potential for additional income
A large and attractive period property located on the A28 Canterbury Road providing good access between Canterbury and the Thanet towns. Westgate-on-Sea has its own mainline railway station as well as a popular sea front and amenities, Margate is close by with its high speed train service to London.
The business centre which is to be offered on a virtual freehold, occupies the first, second and third floors of this impressive building believed to have been built in 1901. The upper parts provide 27 licensed offices varying in size, as well as eight individual single person use office pods. Each floor benefits kitchen areas and rest rooms. The site provides on-site parking.
A proportion of the income is from virtual tenants who have a variety of benefits including prestigious mailing address, local telephone number, mail collection, call redirection and more.
In addition to the current space there are opportunities to provide further income via making use of vacant spaces including the old dormitories which currently have 20 rooms unoccupied, together with a large vacant space on the top floor with the potential for further offices or residential, subject to all necessary consents being obtainable.
All tenant information including virtual tenants will be provided in the legal documentation available to download from the Clive Emson website.
Tenure
Sold on a new 999-year lease, further information will be available to download from the Clive Emson website.
Auctioneer's Note
The event and conference areas are being retained by the Seller together with the on-site cottages.
Local Planning Authority
Thanet District Council. Tel: 01843 577000. Website: thanet.gov.uk.
Leasehold with Part Vacant Possession
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
