84, 84A & 84B High Street, Sheerness, ME12 1UB

Lot Image

Auction sale - Monday 19th February 2018

* Guide price:

£475-500,000

The successful purchaser will be required to pay a buyer’s administration fee of £990 (inclusive of VAT). Other additional costs/fees may apply – click here.

  • Freehold retail & residential investment
  • Town centre location
  • Development potential (subject to consents)
  • Fully let with the ground floor let until 2025
  • Producing £42,400 per annum

Addendum

84, 84A & 84B, High Street, Sheerness
The shop tenant is Colin John Barrett
The retail unit will shortly begin a re-fit to include a new Post Office, which is being moved to the premises. An article relating to this is included within the legal pack.
The following Clause 2 in the original Special Conditions of Sale has been removed and will not apply - “If for whatever reason the Seller fails to complete then the Seller must return the deposit (without any accrued interest) to the Buyer but the Buyer agrees and acknowledges that it shall have no further claims, rights, remedies or actions whatsoever against the Seller. The General/Standard Conditions are varied accordingly”. An amended set of Special Conditions of Sale has been added to the legal pack.

Details

Location

Summary: The building commands a prominent position in the town centre at the junction of High Street and Broadway opposite the Clock Tower
Miles: Maidstone 19 miles, Chatham 18 miles
Roads: A249, M2 (junction 5)
Rail: Sheerness-on-Sea railway station
Nearby Occupiers: Halifax, Subway, Barclays. New Look, Peacocks, H Samuel

Description

A prominent part two storey/part three storey building of traditional construction. The building is arranged as a ground floor retail unit with rear ancillary accommodation and two self contained flats over first and second floors. Both flats have three bedrooms and have separate access from High Street and offer potential to be reconfigured to provide further units, subject to obtaining the necessary consents.

Tenure

Freehold

Planning

Swale Borough Council (01795 424341) www.swale.gov.uk

VAT

The Seller has not elected to charge VAT

Energy Performance Certificate

See website

Address Tenant Floor Use Sq M Sq Ft Lease Terms Rent £ pa
TOTAL £42,400
84 High Street John Barret t/a Premier Convenience Shop Ground Retail 188.03 2,024 15 years from 24/11/2010 £25,000 (1)
84A High Street Individual First 3 bedroom flat 142.97 1,539 AST £9,600
84B High Street Individual First/second 3 bedroom flat 78.97 850 AST £7,800
(1) 5 yearly rent reviews. 2015 rent review outstanding

Contact

Seller's solicitor

Blakewells Solicitors

Asif Choudhury

020 8522 4400

asif.choudhury@blakewells.co.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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