Lot 83

MIXED USE INVESTMENT ON HIGH STREET PROVIDING GOOD INCOME

34 High Street, Ramsgate, Kent, CT11 9AG
34 High Street, Ramsgate, Kent, CT11 9AG
Sold £305,000

Currently let at £31,700 per annum

A three storey mid-terrace building located in Ramsgate’s town centre close to both local and nationwide retailers.

The building is arranged as a ground floor commercial unit let to a pawnbroker who has been trading for eight years and in occupation in this location for three years. This unit is let on a new 10-year fully repairing and insuring lease and above is a recently converted three-bedroom flat which is well presented and has its own access at ground floor level.

The property is considered ideal for continued investment and is within walking distance of Ramsgate’s Royal Marina.

Residential

Ground Floor

Entrance to residential parts.

First Floor

Landing and living room/kitchen.

Second Floor

Landing, three bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy at a current rental of £1,100 per calendar month.

Commercial

Ground Floor

Shop floor, storage area and staff W.C.

First Floor

Office storage area.

Tenancy

Let under the terms of a new 10-year commercial lease at a current rental of £18,500 per annum, set to increase to £19,500 per annum after one year.

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/