Auction House London

Lot 282

Mixed Use - Commercial Property 

86/88 Frindsbury Road

Rochester, Kent, ME2 4HY

Sold prior to auction, for an undisclosed amount

A Pair of Mid Terrace Buildings Comprising 2 x Ground Floor Retail Units and 2 x First Floor One Bedroom Flats Fully Let Producing £41,928 Per Annum (Reflecting a Gross Initial Yield of 12.1%)

Description

The property comprises a pair of mid terrace buildings arranged to provide 2 x ground floor retail units and 2 x first floor one bedroom flats.

Tenure

Freehold

Location

The property is situated on a mixed use road close to local shops and amenities. The open spaces of Frindsbury Park are within easy reach. Transport links are provided by Strood rail station.

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Rent
86 Frindsbury Hill Ground Shop Area Lease for 25 years from 1st October 2002 £1,344 PCM
86A Frindsbury Hill First One Bedroom Flat AST (Please refer to legal pack) £650 PCM
88 Frindsbury Hill Ground Shop Area Lease for 20 years from 1st September 2021 £900 PCM
88A Frindsbury Hill First One Bedroom Flat AST (Please refer to legal pack) £600 PCM

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Sold Prior
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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Enquire about 86/88 Frindsbury Road, Rochester, Kent, ME2 4HY

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