Lot 72 - MIXED USE INVESTMENT - TWO SHOPS, FOUR FLATS AND GARAGE WITH POTENTIAL - Clive Emson Auctioneers

28-30 Grange Road, Ramsgate, Kent, CT11 9LP

NOVEMBER AUCTION

Currently let at £20,420 per annum, plus vacant flat

A mixed use investment located on a prominent corner position on Grange Road and Edith Road. The property is arranged as two shops and four flats with all units being let apart from the top floor one-bedroom flat. All flats could do with some improvement but have double glazed windows and electric heating systems. It is understood the current rents have not been increased in around five years and there may be potential to bring these up to a market rent.

There is also a garage, (currently let), which may offer potential for future development, subject to all necessary consents being obtainable.

28 Grange Road

Coffee House

Shop floor with serving counter, basement seating area, kitchen and W.C.

Tenancy

Let on a commercial lease at a current rental of £3,000 per annum.

30 Grange Road

Poppy Perspective

Shop floor and raised level with W.C.

Tenancy

Let on a commercial lease at a current rental of £3,500 per annum.

Edith Road

Ground Floor

Communal entrance.

Flat 1

Living room/bedroom/kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental £350 per calendar month.

Council Tax Band A

Flat 2 - First Floor

Living room/bedroom/kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental £300 per calendar month.

Council Tax Band A

Flat 3 - First Floor

Kitchen, bedroom/living room, shower room/W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental £450 per calendar month.

Council Tax Band A

Flat 4 (Vacant) - Second Floor

Kitchen, living room, bedroom and bathroom/W.C.

Tenancy

Previously let at £650 per calendar month.

Council Tax Band A

Garage

Let at a current rental £60 per calendar month.

Local Planning Authority

Thanet District Council. Tel: 01843 577000. Website: thanet.gov.uk.

Viewing

External only.

Freehold with Part Vacant Possession

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 cliveemson.co.uk/buyers-fees/