Investment for sale in Chatham

AUCTION PROPERTY A large freehold mixed use building located in a predominantly residential area but close to local amenities and with good access to the M2 Junction 3 as well as Bluebell Hill towards Maidstone and the M20.

The building is arranged as a parade of five shops with four maisonettes above, three of the shops and two of the maisonettes have been sold off on long leases. The remaining 2 maisonettes are currently let on Assured Shorthold Tenancy Agreements, with their agreements including a garage each. One of the remaining shops is currently let and a large double fronted corner unit is to be offered with vacant possession.

The building occupies a good sized plot with car parking to the rear.

The property previously had outline Planning Permission for an additional three two-bedroom maisonettes to be developed above the vacant commercial unit (Select'N'Save) along with the development of one bungalow, however, we understand the proposed site for the bungalow has been sold off separately. This permission was granted in 1990 and any interested applicants must rely on their own investigations.

Planning
Outline Planning Permission was granted in May 1990 by Medway Borough Council under reference ME/90/0209 for the construction of three two-bedroom maisonettes and one bungalow, subject to conditions. This permission has now lapsed but a copy will be included as part of the legal pack.

Local Planning Authority
Medway Borough Council. Website: medway.gov.uk. Tel: 01634 31700.

60 Holland Road - Darley Stars Hair & Beauty
Tenure
Sold on a lease from 24th June 1981 to 29th September 2079 at a ground rent of 50 per annum.

62 Holland Road - Flow Pilates Studio
Tenancy
Let under the terms of a five-year commercial lease from the 31st January 2023 at a current rent of 8,500 per annum with a rent review due in January 2026.
EPC Rating
To be confirmed.

64 Holland Road - Julie's Hair & Beauty Clinic
Tenure
Sold on a from 24th June 1981 to 29th September 2079 at a ground rent of 50 per annum

66 Holland Road - Premier Express
Tenure
Sold on a 125 years lease from 18th November 1987 at a ground rent of 50 per annum

68-70 Holland Road - Select'N'Save
Open plan shop, office, W.C. and storeroom to rear with rear access.
Tenancy
Currently vacant.

EPC Rating
To be confirmed.

Residential Parts
Accessed via rear by external staircase.

72 Holland Road
Tenure
Sold on a lease from 11th December 1980 to 29th September 2079 at a ground rent of 30 per annum

74 Holland Road
First Floor
Entrance hall, kitchen/dining room and living room.
Second Floor
Landing, two bedrooms, bathroom and separate W.C.
Outside
Garage.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at 825 per calendar month.
EPC Rating D
Council Tax Band C

76 Holland Road
Tenure
Sold on a lease from 24th June 1981 to 29th September 2079 at a ground rent of 20 per annum
78 Holland Road
First Floor
Entrance hall, kitchen/dining room and living room.
Second Floor
Landing, three bedrooms, bathroom and separate W.C.
Outside
Garage.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement at 975 per calendar month.
EPC Rating D
Council Tax Band C

Viewing
Interested applicants may view empty shop with arrangements with Clive Emson.

Freehold with Part Vacant Possession

Residential EPC: D

Commercial EPC: TBC

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 the 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 www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*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 www.cliveemson.co.uk/buyers-fees/