An excellent freehold investment situated in the heart of Broadstairs high street and comprising an end-terrace block of four shops with five maisonettes above. All the shops are currently let and each of the maisonettes have been sold on long leases.
We understand that there is a parking area to the rear and 65-67 High Street also has two garages.
59 High Street Trading as 59 Broadstairs Let under the terms of a 10-year lease from 1st May 2018 running to 1st May 2028 at a current rental of 12,000 per annum with three yearly rent reviews. We have been informed by the seller there has been no increase in rent for five years.
EPC Rating To be confirmed.
61 High Street Trading as Sylvester's Dry Cleaners Let under the terms of a 21-year commercial lease from 23rd December 1991 with three yearly rent reviews. We have been informed the tenant is holding over under the original 1991 lease and although the agreed rent at the commencement of the lease was 8,500 per annum, the tenant has been paying 900 per calendar month (10,800 per annum) for approximately the last 18-months.
EPC Rating B (40). Total Floor Area 78 sq.m.
63 High Street Trading as Westwood Aquariums Let under the terms of a 12-year lease from 29th September 2000 at a current rental of 3,000 per quarter (12,000 per annum).
EPC Rating C (52). Total Floor Area 77 sq.m.
65 & 67 High Street Trading as Expression Gift Shop Let on a 10-year lease from 1st September 2026 at a current rental of 20,000 per annum.
EPC Rating C (55). Total Floor Area 274 sq.m.
Residential Flat 1, Steven Close Tenure Sold on a 100-year lease from 24th December 2012 at a current ground rental of 50 per annum.
Flat 2, Steven Close Tenure Sold on a 99-year lease from 25th March 1980 at a current ground rental of 50 per annum.
Flat 3, Steven Close Tenure Sold on a 100-year lease from 9th September 2015 at a current ground rental of 50 per annum.
Flat 4, Steven Close Tenure Sold on a 129-year lease from 25th March 1980 at a current ground rental of 50 per annum.
Flat 5, Steven Close Tenure Sold on a 199-year lease from 19th March 2012 at a current ground rental of 100 per annum.
Auctioneer's Note Section 5B Notices have not be served on the residential parts as we understand the commercial area is greater than the residential area.
Viewing Viewing is external only. Interested applicants are requested not to contact the tenants directly.
Commercial EPC: C
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/
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