Lot 47 Freehold Commercial And Residential InvestmentAuction Date:
24th July 2024
9 Grace Hill, Folkestone, Kent, CT20 1HA
Currently let at £20,880 per annum
Located in Grace Hill, within close proximity to Rendezvous Street, the town centre, university and the creative quarter in Tontine Street, this four storey mid-terrace property is arranged as a ground floor commercial investment, with two flats on the upper floors, both let on Assured Shorthold Tenancy Agreements.
Commercial
Ground Floor
Let to Channel Cars under the terms of a 15-year lease from 19th February 2001 (currently holding over) at a current rental of £6,000 per annum.
Residential
Separate entrance hall for the residential units, with stairs to first floor. Landing and store cupboard.
Flat A
First Floor
Kitchen, bathroom, lounge and bedroom.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £510 per calendar month.
Council Tax Band A
Second/Third Floor
Flat B
Three bedrooms, kitchen, bathroom and living room.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £730 per calendar month.
Council Tax Band A
Auctioneer's Note
At the time of going to print the Auctioneers have been unable to internally inspect the properties and the information has been provided by the Joint Auctioneers Ashe Property Management Ltd.
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
