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    Key features

    • Investment let at £46,500 (8.30% on Guide Price)
    • Comprises a substantial double fronted two/three storey building fully let
    • Retail let at £26,500 pa on a 15 year lease
    • 2x three bedroom flats above let on AST's (rents have not been increased recently)
    • Prime position in the High Street
    • Rear office newly let
    • Attractive South Coast seaside town
    • First time on the market in 72 years

    Description

    The property, which is Grade II Listed comprises two buildings arranged as a ground floor double fronted shop with 2x three bedroom flats above with separate access. There is an office at the rear of the property which has been newly let.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Ground (Retail) - 191.10 sq m (2,057 sq ft)

    Part First (Ancillary) - 26.68 sq m (287 sq ft)

    Part First/Second (87 High Street) - 3 bed flat - not measured

    Part First/Second/Third (89 High Street) - 3 bed flat - not measured

    Rear Office - not measured

    Rear Garage - not measured


    Tenancy

    Ground/Part First - let to tenant trading as Eldridges on a 15 year lease from 01/02/2016 until 31/01/2031 at a current rent of £26,500pa

    Part First/Second (87 High Street) - Let to an individual on a 12 month AST at a rent of £8,000 pa (£670 pcm)

    Part First/Second/Third (89 High Street) - Let to an individual on a 12 month AST at a rent of £7,800 pa (£650 pcm)

    Rear Office - Let to an individual at a rent of £2,700 pa (the terms have been agreed and the lease will be signed imminently).

    Garage - Let to an individual on an informal agreement at £1,500 pa.


    Total Rent - £46,500 pa


    Rent

    £46,500 pa
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      Local information

      Hythe is an attractive and affluent town on the south east coast of England, in Kent. The property is located in a prominent position on the north side of High Street, Hythe's main retailing thoroughfare. The property is located in a strong pitch in the middle of High Street. Nearby occupiers include Boots the Chemist, Costa Coffee, WHSmith and a number of independent shops, cafe's and restaurants.

      Transport

      Rail: Sandling

      Roads: A259, M20

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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