Lot 38

PUB AND THREE FLATS FOR INVESTMENT

87 High Street, Ramsgate, Kent, CT11 9RJ
87 High Street, Ramsgate, Kent, CT11 9RJ
Sold £290,000

Currently let at £26,340 per annum

A mid-terrace four-storey property well located for Ramsgate town centre a short distance from its Royal Marina. The building is arranged as a ground floor commercial unit run as a Micro pub and three self-contained flats above with the whole property being let, but is now in need of some improvement.

The residential parts are accessed via the rear and each flat has double-glazed windows and gas heating.

Ground Floor

Micro pub seating area with bar, rear hall and two W.C.s.

Cellar

Three rooms.

Tenancy

Let on a lease from 1st December 2021 and ending on 30th November 2024 at £750 per calendar month.

Auctioneer’s Note

We understand the commercial tenant owns the furniture and equipment in the pub. Further information will be available to download from the Clive Emson website.

Residential Parts

First Floor - Flat 1

Living room/bedroom with bay window, kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.

Council Tax Band A

Second Floor - Flat 2

Bedroom/living room with bay window, kitchen and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.

Council Tax Band A

Third Floor - Flat 3

Entrance hall, living room/bedroom, kitchen and bathroom/W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.

Council Tax Band A

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/