2 bedroom flat for sale
Key information
Property description & features
- Tenure: Leasehold
- Investment Portfolio
- Comprising Four Flats & Office
- For Sale by On-line Auction
- Three x 2 Bed Flats
- One x 3 Bed Flat
- Residents Parking
- All Currently Let on AST's
- Cash Buyers Only
- Auction Closes 12.00pm on 8th May 2024
- Guide Price £250,000
INVESTMENT PORTFOLIO COMPRISING FOUR SEA FRONT FLATS ALL CURRENTLY LET
Cash buyers only. A mixture of four x 2 & 3 bedroom purpose-built apartments, comprising three x 2 bed flats and one 3 bed flat, all affording outstanding views across Margate Main Sands and out to sea. The apartments are situated within an iconic sea front building, close to the town's main-line railway station with easy access to London via the Hi-speed rail link. The town centre with a good selection of shops and the Old Town with its eclectic selection of trendy bars & restaurants are all just a short stroll away. The flats benefit from residents parking and an on-site caretaker.
Each flat is currently let on an Assured Shorthold Tenancy.
The properties are to be sold with the remainder of 114 year leases which commenced 1st October 1961 (approximately 51 years remaining).
To be offered for sale collectively by on-line auction with a guide price of £250,000 (unless withdrawn or sold prior) - Auction fees apply . The auction closes at 12noon on Wednesday 8th May. Full details of the auction bidding process and how to register are available at the Terence Painter website .
The legal pack contains documents for all four flats.
Viewing is strictly by appointment with the selling Agents Terence Painter Estate Agents on[use Contact Agent Button]
The Flats
4D - Located on the fourth floor with an easterly aspect. Comprising open plan kitchen-living room (6.46m x 3.85m), 2 bedrooms (3.81m x 2.73m), (3.29m x 2.10m) and bathroom/W.C. Currently set at £40 per annum, rising to £80 per annum. EPC Band D. Currently let on an AST at £475 per calendar month (£5,700 per annum).
4F - Located on the fourth floor with an easterly aspect. Comprising living room (5.52m x 4.54m), kitchen (4.55m x 2.24m), 2 bedrooms (3.65m x 2.79m), (2.87m x 2.38m) and bathroom/W.C. Ground Rent: Currently set at £40 per annum, rising to £80 per annum. EPC Band E. Currently let on an AST at £450 per calendar month (£5,400 per annum).
11H - Located on the eleventh floor with an easterly aspect. Comprising kitchen (2.89m x 2.03m), living room (4.34m x 3.40m), 3 bedrooms (3.62m x 2.71m), (2.91m x 2.71m), (2.92m x 2.23m) and bathroom/W.C. Ground Rent: Currently set at £40 per annum, rising to £80 per annum. EPC Band D. Currently let on an AST at £400 per calendar month (£4,800 per annum).
12E - Located on the twelfth floor with an easterly aspect. Comprising Open plan kitchen-living room (6.31m x 3.73m), 2 bedrooms (3.98m x 2.95m) & (3.52m x 2.05m) and bathroom/W.C. Ground Rent: Currently set at £90 per annum, rising to £120 per annum. EPC Band D. Currently let on an AST at £480 per calendar month (£5,760 per annum).
Council Tax
All Flats are Council Tax Band A
Important Information
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 (if applicable), which will be available on Auction Day.
Auction Pack & Finance
Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. It is the purchaser’s responsibility to make all necessary legal, planning and finance enquiries prior to the auction.
Registering For The Auction & On-line Bidding Process
Please visit the Terence Painter website at terencepainter.co.uk and click 'Online Auctions' . In order to bid you will need to first register and verify your email. Then, via the dashboard:
* pass an ID check
* enter your card details (for your deposit payment should your bid be successful)
* enter your solicitor details
* Join the watchlist
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