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Lot 10

6 week completion

SITUATION

Located in this pedestrianised section of the town's main retail thoroughfare, near to the junction with York Street, less than 200 yards from Waitrose and close to branches of Thomas Cook, William Hill, Cancer Research UK, KFC, Barclays, Lloyds, Halifax, CEX and a host of local traders. In addition, there is a street market on Fridays and Saturdays.
Ramsgate is a popular East Kent coastal town some 17 miles north-east of Canterbury and 20 miles north of Dover with easy access via the A293 which provides access to the A2 and M2 Motorway.

PROPERTY

An end of terrace building comprising a Ground Floor Shop (with trap door access to a Basement) and internal access to Ancillary Accommodation on first and second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 18'5"
Internal Width 16'10"
Shop Depth 24'3"
Basement (Not inspected)
First Floor Ancillary Area Approx. 225 sq ft plus WC
Second Floor Ancillary Area Approx. 200 sq ft plus WC

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to S. H. Dunne and S. L. Bonny (with 2 personal guarantors until December 2021) as a Florist for a term of 10 years from 25th December 2016 at a current rent of £13,500 per annum exclusive.

Rent Review 2021

Note 1: There is a £3,150 (incl. VAT) Rent Deposit held.

Note 2: There is a side door on Queen's Court that leads into the rear of the shop which could enable the upper part to be self-contained, subject to 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.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

19 Queen Street, Ramsgate, Kent CT11 9DZ