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Lot 3
48 High Street, New Romney, Kent TN28 8AT

  • Photo1

6 Week completion

SITUATION

Occupying a prominent trading position close to the junction with Ashford Road within the principal retailing area of the town and being amongst a variety of local restaurants, retailers and multiple traders including Costa, Lloyds Bank, Co-op Funeral Care, Lloyds Pharmacy, Spar, Post Office and The British Red Cross.
New Romney is an attractive town being one of the Cinque Ports lying off the main A259, approx. 18 miles north-west of Hastings and 13 miles south-west of Folkestone.

PROPERTY

Forming part of a mid-terraced building comprising a Ground Floor Fish & Chip Take-Away.
In addition the property benefits from a rear car park for unloading and parking for 2 vehicles.

ACCOMMODATION

Ground Floor Take-Away
Gross Frontage 22'9"
Internal Width 20'4"
Take-Away Depth 15'0"
Built Depth 34'1"
WC

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

TENANCY

The property is let on a full repairing and insuring lease to S. Gibbons (with 1 surety) trading as Fish & Peri for a term of 10 years from 23rd January 2015 at a current rent of £13,000 per annum exclusive.

Rent Reviews 2018, 2021 & 2024.

Note: The Landlord has agreed the surrender of the existing lease and a simultaneous grant of a new lease to another Fish and Chip operator called Eljays Ltd (with guarantor) for a term of 10 years at £13,000 p.a. with reviews on 23rd January 2018, 2021 & 2024.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.