Property For Sale

residential development in CT9

FOR SALE BY ONLINE AUCTION: terms and conditions apply.

We are pleased to offer for sale by auction this ground floor retail unit with 3 flats above. The property briefly comprises of a open plan retail unit with x2, 1 bed flats and x1, 2 bed flat. The subject property is located along Canterbury Road, Margate. The property is well located along a mixed commercial and residential street with easy access to local amenities and transport links. The closest bus stop is a minutes walk away as well as Margate train station being a 10 minutes walk. We are advised all three flats are currently let on a rolling basis. The ground floor retail unit is let on a 3 year lease from October 2019 at £4,680 per annum. Achieving an annual income of approx. ££22,140

Summary

• Property Type: Residential Development
• Tenure: Freehold
• Parking: Allocated

Location

The subject property is located along Canterbury Road, Margate. The property is well located along a mixed commercial and residential street with easy access to local amenities and transport links. The closest bus stop is a minutes walk away as well as Margate train station being a 10 minutes walk.

Accommodation

Retail unit:
Open plan sales area
Storage
W.C.

Flat 1:
Lounge/kitchen
Bedroom
Bathroom

Flat 2:
Lounge/kitchen
Bedroom
Bedroom
Bathroom

Flat 3:
Lounge/kitchen
Bedroom
Bathroom

Rateable Value

The adopted rateable value is £2,950 as of 1st April 2017.
Sourced from VOA.

Lease Details

We are advised all three flats are currently let on a rolling basis. The ground floor retail unit is let on a 3 year lease from October 2019 at £4,680 per annum. Achieving an annual income of approx. £20,328. Further lease detail can be found in the legal pack.

Tenure

Freehold. Title number K125460.

EPC

Available upon request (residential rating D, D E, commercial rating E).