Lot 58 Freehold Commercial Investment Plus Ground RentsAuction Date:
4th May 2023
Kianga, Douglas Avenue, Hythe, Kent, CT21 5JT
Currently let at £6,300 per annum
Situated in Douglas Avenue which lies between Hythe High Street and Prospect Road (A259) and close to Waitrose supermarket is this mid-terrace property arranged as a freehold commercial investment plus ground rents from the two flats above, both of which have been sold on long leases.
Ground Floor Shop
Currently trading as Jays Tattoo Art & Body Piercing let under a Law Society Lease from 1st April 2018 to and including 31st March 2024. The lease allows for one parking space. A copy of the lease will be available to download from the Clive Emson website.
Upper Parts
Two flats, each sold on a long lease of 189-years from 25th March 1989 at a current ground rental of £150 per annum each, rising every 25 years throughout the term.
Auctioneer's Note
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served on the leaseholders of the two flats. The leaseholders have not reserved their rights under the legislation.
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
