Investment for sale in Maidstone

AUCTION PROPERTY A substantial period building situated in a busy pedestrian area in the centre of the county town of Maidstone.

The property is arranged as a retail unit on the ground floor with rear vehicular access without title leading to on site car parking. The ground floor retail unit is let on a commercial lease at a current rental of 32,000 per annum.

The upper floors (first floor and second floor) are self-contained having a separate entrance at the front directly from Gabriel's Hill and provides extensive accommodation with Planning Permission and Listed Buildings Consent for conversion to provide a large self-contained flat.

Ground Floor
Retail unit (gross internal floor area is 126.2 square metres/1,358 square feet) providing front retail area, middle retail area and rear retail area and two storerooms at the rear.

Tenancy
Let on the terms of a commercial lease commencing 11th September 2019 until the 31st January 2030 at a current rent of 32,000 per annum. The tenants are the Childrens Trust (a registered charity) and they are currently in their second lease period having commenced occupation on the 11th September 2009, there is a rent review on 31st January 2025.

EPC Rating
C (54). Floor area 126 sq.m.

Upper Floors
Current office space providing accommodation over the first and second floors.

EPC Rating
D (96). Floor area 202 sq.m.

Planning
Planning Consent and Listed Building Consent have been granted for Change of Use for the first and second floors to provide a large three bedroom self-contained flat under reference 21/504234/FULL and 21/504235/LBC (dated 18th March 2022), subject to conditions. A copy of the Planning Consent and Listed Building Consent may be downloaded from the Maidstone Borough Council website, maidstone.gov.uk. Tel: 01622 602736.

Proposed Accommodation
Ground Floor
Front entrance hall.

First Floor
Landing, living room/kitchen, dining room, home office/study and separate W.C.

Second Floor
Landing, bedroom 1 with en-suite shower room and W.C, bedrooms 2 and 3 and a family bathroom with W.C.

Freehold with Part Vacant Possession

Commercial EPC: C

Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.

Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/