residential development in CT9
We are pleased to offer for sale this ground floor retail unit with 3 flats above. The property briefly comprises of a open plan retail unit with x2, 1 bed flats and x1, 2 bed flat. The subject property is located along Canterbury Road, Margate. The property is well located along a mixed commercial and residential street with easy access to local amenities and transport links. The closest bus stop is a minutes walk away as well as Margate train station being a 10 minutes walk. We are advised all three flats are currently let on a rolling basis. The ground floor retail unit is let on a 3 year lease from October 2019 at £4,680 per annum. Achieving an annual income of approx. £22,140
Summary
- Property Type: Residential Development
- Tenure: Freehold
- Parking: Allocated
Location
The subject property is located along Canterbury Road, Margate. The property is well located along a mixed commercial and residential street with easy access to local amenities and transport links. The closest bus stop is a minutes walk away as well as Margate train station being a 10 minutes walk.
Accommodation
Retail unit:
Open plan sales area
Storage
W.C.
Flat 1:
Lounge/kitchen
Bedroom
Bathroom
Flat 2:
Lounge/kitchen
Bedroom
Bedroom
Bathroom
Flat 3:
Lounge/kitchen
Bedroom
Bathroom
Rateable Value
The adopted rateable value is £2,950 as of 1st April 2017.
Sourced from VOA.
Lease Details
We are advised all three flats are currently let on a rolling basis. The ground floor retail unit is let on a 3 year lease from October 2019 at £4,680 per annum. Achieving an annual income of approx. £20,328. Further lease detail can be found in the legal pack.
Tenure
Freehold. Title number K125460.
EPC
Available upon request (residential rating D, D E, commercial rating E).