Retail Property (High Street)
The site is situated adjacent to high street chains Superdrug with Costa Coffee as a neighbour so a prime retail spot. The large vacant site nearby which was until last year a Debenhams store and has been purchased by the local council with plans to redevelop to smaller units, leisure facilities and a proposed health centre. It is currently being used a vaccination centre. The Bouverie Place Shopping Centre, Asda and parking are to the rear.
The retail unit is a character property with a long term lease in place with a local Hospice charity. There are just over 2 years remaining on the current lease with a rental of £45,000 per annum. The planning permission for the residential conversion can be viewed at folkestonehythedc.force.com/pr/s/planning-application/a1n2o000002zpDhAAI/200177fh. The reference is 20/0177/FH Rateable Value is £42,250
There is currently significant investment being made in the town and the seafront area has a large development of luxury apartments being built almost on the beach.
Subject to tenancy. See legal pack for further information.
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
