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Lot 34
63 Biggin Street, Dover, Kent CT16 1DD

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Sold: £262,000

(GROSS YIELD 15.5%)
6 Week completion

SITUATION

Located on the main retail thoroughfare in the town centre, adjacent to New Look and opposite Boots, Shoe Zone and Halifax as well as being amongst other multiples including Vodafone, Costa Coffee, HSBC, Peacocks, Marks & Spencer and many more.
Dover is a famous port being one of the major crossing routes to the Continent, and is approximately 70 miles south-east of London with easy access via the A20 which links with the M20 (Junction 12).

PROPERTY

A mid terrace building comprising a Large Ground Floor Shop with internal access to Ancillary Accommodation on the first, second and third floors. In addition, the property benefits from a common service area to the rear for unloading.

ACCOMMODATION1

Ground Floor Shop
Sales Area Approx. 1,832 sq ft
Second Floor(Not used)
Area Approx. 1,556 sq ft
Second Floor Ancillary
Area Approx. 597 sq ft
Third Floor Ancillary
Area Approx. 461 sq ft

Total Area Approx. 4,446 sq ft

1 Not inspected by Barnett Ross. Areas supplied by Vendor.

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Kruidvat Real Estate UK Ltd t/a Savers (having over 380 UK branches) who are a wholly owned subsidiary of A S Watson Group (who have over 10,000 stores worldwide) for a term of 5 years from 22nd December 2010 (holding over) at a current rent of £38,900 per annum exclusive.

Note: There may be potential to convert the upper part into residential accommodation, subject to obtaining possession and the necessary consents.

*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.