Lot
033
Auction Ends: 22/03/2023 12:34 - Bidding opens Tuesday 21st March 10:00 AM

413 Luton Road, Chatham, Kent, ME4 5BH

Property Details
Location
Auction Details
Description
A mixed commercial and residential investment opportunity comprising an end terrace property converted to provide ground floor retail accommodation and four flats arranged over upper floors. Additionally there is a separate two bedroom dwelling to the rear. All aspects of the property (except one flat) are currently let producing an equivalent annual rent of approximately £49,800. There is potential to increase the current rental return on occupation of the vacant flat. The retail accommodation extends to approximately 88 Sq M (950 Sq Ft) (including basement).
Location
The property fronts onto Luton Road close to its junction with Upper Luton Road approximately 1 mile from Chatham Town Centre. The immediate surrounding area is mainly residential with a number of local amenities such as shops and schools found along Luton Road. The larger Town of Maidstone lies 9.5 miles to the south.
Accommodation

Pugh & Co have not inspected the property internally and the accommodation details have been provided by the vendor;


Ground Floor (approx 614 Sq Ft)Sales, Store, Kitchen, Office
Basement (approx 334 Sq Ft)Storage
First Floor2 x flats
Second Floor2 x flats
Detached House (approx 603 Sq Ft)2 bedrooms

Outside
Undercroft parking and rear yard.
Approx Site Area
Approximately 305 Sq M (365 Sq Yds).
Tenure
Unknown
Tenancy
We understand the tenancy information comprises the below. Pugh & Co have not been provided with any tenancy agreements at this stage and the below information has been provided by the vendor. Interested parties are advised to rely solely upon their own investigations in this regard.

Ground floor and Basement are let to Plum Bro's Ltd at £1200pcm

Flat 1 - Vacant
Flat 2 - Let at £675pcm
Flat 3 - Let at £750pcm
Flat 4 - Let at 675pcm

Mews house - Let at £850pcm


Ground Floor & BasementLet to Plum Bro's from 01/04/20 to 31/032030 at £14,400 per annum
Flat 1Vacant
Flat 2Let on a 12 month AST dated 28th March 20222 at £675pcm
Flat 3Let on a 6 month AST dated 3rd October 2022 at £750pcm
Flat 4 Let on a 12 month AST dated 1st December 2021 at £650pcm
House to rearLet on a 6 month AST dated 21st October 2022 at £850pcm

Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 21ST MARCH AND CLOSES ON WEDNESDAY 22ND MARCH.

3. By instruction of receivers

4.. Pugh & Co have not inspected the property internally.

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