Lot 85 - Permission For Seventeen Residential Letting Units And Retention Of Two Commercial Units
59-61 High Street, Kent, ME10 4AW
Guide Price: *
£625,000
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:
£625,000Bid history
1 bidA
25/07/2023 08:48:36 - £625,000
Guide Price* : £625,000 - £675,000
Currently let at £12,000 per annum
Estimated rental income £158,000 per annum
A large mid-terrace property with a total floor area of 900 sq.m. (9,682 sq.ft.) is currently arranged as two commercial units, one of which is let, with 11 vacant office rooms above.
The building has been granted Planning Permission for conversion of the offices to provide 17 residential letting units each with their own shower rooms with W.C.s with two communal kitchens and roof top terrace.
The building is situated on Sittingbourne High Street close to local and nationwide retailers as well as the mainline railway station.
Planning
Planning Permission has been granted by Swale Borough Council under reference 22/503070/FULL, dated 18th May 2023, for restoration and conversion of offices into a co-living scheme of seventeen studio units, with part retention of retail/commercial use on all floors, including erection of a second floor extension to form a stairwell and creation of associated refuse and cycle storage facilities, subject to conditions.
A copy of the Planning Consent and accompanying documents may be downloaded from the Local Planning Authority website, Swale Borough Council. Tel: 01795 417850. Website: swale.gov.uk.
Proposed Accommodation
59 High Street - Ground Floor
Commercial premises with own entrance from the high street, storage, kitchen and W.C.
Tenancy
Vacant. Estimated potential income of £12,000 per annum.
61 High Street
Ground Floor
Commercial premises with rear storage.
First Floor
Further storage.
Tenancy
Let under the terms of a 10-year Commercial lease expiring February 2027 at a current rental of £12,000 per annum. The Auctioneers have been advised this may currently be underlet.
Ground Floor
Communal entrance to residential parts and communal kitchen/dining room.
Units 1-2
Each with en-suite shower room/W.C.
First Floor
Units 3-10
Each with en-suite shower room/W.C.
Unit 11
Kitchen and en-suite shower room with W.C.
Unit 12-13
Each with en-suite shower room/W.C.
Second Floor
Communal kitchen/dining room with access to the roof terrace.
Unit 14
Kitchen and en-suite shower room with W.C.
Unit 15
En-suite shower room/W.C.
Unit 16
Kitchen and en-suite shower room with W.C.
Unit 17
En-suite shower room/W.C.
Outside
Yard and cycle/refuse space.
Auctioneer’s Note
The previous EPC rating C, for the upper parts, has expired and a new EPC will be provided before the auction date.
Freehold with Part Vacant Possession
Summary
- Lot number
- 85
- Auction end
- 26th Jul at 13:42
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 1
- Council tax band
- Ask Agent
Summary
- Lot number
- 85
- Auction end
- 26th Jul at 13:42
- Property type
- Residential
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 1
- 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.
