Property photos
Auction
Guide price
£425,000
(£163.84/sq. ft)
Retail premises for sale
High Street, Margate CT92,594 sq. ft
Local area information
Property location
Nearby amenities
- Margate, Holy Trinity and St John's Church of England Primary School 0.3 miles
- Margate 0.3 miles
- Salmestone Primary School 0.6 miles
- Westgate-on-Sea 1.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Margate to find out more about the local area.
Features and description
- 3x 1 bedrooms flats
- 1x Commercial unit
- Freehold block
- Close to all amenities
- Currently having a complete exterior decoration
- Great investment opportunity
- Electric Only
Summary
*For sale via secure sale online bidding: Terms and conditions apply.*
We are pleased to offer to auction this freehold building, in the High Street, Margate area. The property has 1x Commercial unit, split over 2 floors & 3x 1 bedroom flats with the top flat having some sea views over margates main sands. Location being on the High Street allows future tenants access to local amenities, close to the train station and the enjoyment of the surrounding entertainment venues like Dreamland and the turner contemporary.
We have been advised a potential tenant is lined up to move in the shop at 14,400 per annum.
Please note we have not inspected this property.
Location
Margate is a seaside town in the Thanet District of Kent, England. It is located on the north coast of Kent and covers an area of 2 miles long, 16 miles north-east of Canterbury and includes Cliftonville, Garlinge, Palm Bay and Westbrook.
Accommodation
The block consists of:
Flat 1 - Currently Tenanted (Earning 550pcm, not market rent)
1 bedroom, bathroom, kitchen lounge & separate WC
Flat 2 - Currently Vacant (Could achieve 750-800pcm rent)
1 bedroom, bathroom & kitchen/lounge
Flat 3 - Currently Vacant (Could achieve 750-800pcm rent)
1 double bedroom, family bathroom & kitchen/lounge area
Commercial Unit.
Spread over 2 floors, currently vacant erv 12,000pa.
This block is currently undergoing a complete exterior decoration with flats 2 & 3 having a renovation.
The roof was replaced 2 years ago.
Rental Income
The shop has recently been let on a five year lease on an annual rental of 12,000 exclusive of VAT etc.
Tenure
Freehold. Title number K215461.
Rateable Value
The current rateable value is 9,100 (1 April 2023 to present).
Sourced from voa.
VAT
We are advised that the property is VAT registered, purchasers should carry out their own enquiries.
Council Tax
All flats band A.
EPC
Available upon request (rating F).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
*For sale via secure sale online bidding: Terms and conditions apply.*
We are pleased to offer to auction this freehold building, in the High Street, Margate area. The property has 1x Commercial unit, split over 2 floors & 3x 1 bedroom flats with the top flat having some sea views over margates main sands. Location being on the High Street allows future tenants access to local amenities, close to the train station and the enjoyment of the surrounding entertainment venues like Dreamland and the turner contemporary.
We have been advised a potential tenant is lined up to move in the shop at 14,400 per annum.
Please note we have not inspected this property.
Location
Margate is a seaside town in the Thanet District of Kent, England. It is located on the north coast of Kent and covers an area of 2 miles long, 16 miles north-east of Canterbury and includes Cliftonville, Garlinge, Palm Bay and Westbrook.
Accommodation
The block consists of:
Flat 1 - Currently Tenanted (Earning 550pcm, not market rent)
1 bedroom, bathroom, kitchen lounge & separate WC
Flat 2 - Currently Vacant (Could achieve 750-800pcm rent)
1 bedroom, bathroom & kitchen/lounge
Flat 3 - Currently Vacant (Could achieve 750-800pcm rent)
1 double bedroom, family bathroom & kitchen/lounge area
Commercial Unit.
Spread over 2 floors, currently vacant erv 12,000pa.
This block is currently undergoing a complete exterior decoration with flats 2 & 3 having a renovation.
The roof was replaced 2 years ago.
Rental Income
The shop has recently been let on a five year lease on an annual rental of 12,000 exclusive of VAT etc.
Tenure
Freehold. Title number K215461.
Rateable Value
The current rateable value is 9,100 (1 April 2023 to present).
Sourced from voa.
VAT
We are advised that the property is VAT registered, purchasers should carry out their own enquiries.
Council Tax
All flats band A.
EPC
Available upon request (rating F).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
More information
Listed by
Pattinson - Commercial
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