Lot 17 - Freehold Commercial Investment With Ground Rent Income
1-7 Jacob's Yard & 8 Preston Street, Kent, ME13 8NY
Guide Price: *
£150,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Highest bid:
£150,000Bid history
1 bidE
18/09/2023 18:06:10 - £150,000
Currently let at £14,250 per annum
A mixed investment located in the centre of Faversham, situated close to local and national retailers, supermarket and Faversham's mainline railway station. This investment comprises a barber's shop and opticians (both currently let), a furniture shop and a house which have been sold on long leases, together with five flats, also sold on long leases.
1 Jacob’s Yard - Kings Cuts
Tenancy
Let under the terms of a 10-year commercial lease from 10th August 2023 at a current rental of £5,750 per annum.
4 Jacob’s Yard
Optima Opticians - Tenancy
Let under the terms of a commercial lease expiring 2025 at a current rental of £8,000 per annum.
8 Preston Street - Faversham Furnishing
Tenure
Sold on a 125-year lease, from 1st January 2009, at a current ground rental of £125 per annum.
3 Jacob’s Yard
Tenure
Sold on a 125-year lease from 19th November 2019 at a current ground rental of £125 per annum.
Flats 1A, 2, 5, 6 & 7 Jacob’s Yard
Tenure
Each sold on a 999-year lease from 27th June 2003, at a current ground rental of £50 per annum each.
Auctioneer's Note
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.
Summary
- Lot number
- 17
- Auction end
- 20th Sep at 10:30
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
Summary
- Lot number
- 17
- Auction end
- 20th Sep at 10:30
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
This property is being sold by:

Clive Emson Auctioneers
0345 8500333
Rocky Hill, London Road, Maidstone, Kent, ME16 8PY
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.