Lot 11 Mixed Use Investment In Town CentreAuction Date:
20th March 2025
9 Military Road, Chatham, Kent, ME4 4JG
Currently let at £41,200 per annum
A town centre investment opportunity producing over a 12.5% return, if purchased at the guide price. The property fronts Military Road in the pedestrianised town centre within close proximity to the main bus station terminal and entrance to The Pentagon Shopping Centre.
The property is arranged as a ground floor commercial unit, currently trading as a phone and vape shop, with three one-bedroom flats above. The flats are all currently let and in good order with gas heating systems via radiators and double glazed windows.
The upper parts were converted from offices three years ago and the communal parts have double glazed windows. The whole building has a fully integrated fire alarm system which was installed in 2020 and there has been a new roof.
Retail Unit
Pav's Phones & Vapes
Ground Floor
Shop floor.
Basement
Kitchenette, two store rooms and W.C.
Tenancy
Let on a 10-year commercial lease, expiring in 2031, at a current rental of £14,500 per annum. We understand there is a break clause in 2027.
EPC Rating
C (58). Floor area 104 sq.m.
Residential Parts
Ground Floor
Communal entrance.
First Floor
Flat 1
Entrance hall, kitchen/living room, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £750 per calendar month.
Second Floor
Flat 2
Entrance hall, kitchen/living room, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £700 per calendar month.
Third Floor
Flat 3
Entrance hall, kitchen/living room, bedroom, shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £775 per calendar month.
Tenure
Remainder of a 125-year lease from 25th December 1982 at a ground rental of £2,200 per annum.
All Flats Council Tax Band A
All Flats EPC Rating C
Viewing
External only.
Further Information
Jon Rimmer/Isla Wild
on 01622 608400
Viewings
Applicants may view the lot externally only
Legal Documents
Sign In to view legal documents for this property
- Special Conditions
- Office Copy Entries
- Lease(s)
- Environmental Search
- Drainage Search
- Tenancy Agreement(s)
- EPC
- Other Documentation
- Online Auctions Buying Guide
Service Providers
Click here if you are looking for a solicitor, insurance company, finance company or a property related organisation or firm
Local Information
Discover transportation routes, schools and local amenities and attractions within this area. You’ll also find other useful information including average broadband speeds and much more…
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
