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10 bed Commercial Property

£1,500,000

Margate

FOR SALE


Property FEATURES

  • Large Investment Plot
  • Refurbishment Project
  • Prime Location
  • Direct Sea Views
  • 6 Flats + 3 Commercial Units

Property DESCRIPTION

PROJECT IN PRIME LOCATION MARGATE!! Parkland Estates are thrilled to bring to the market this fantastic opportunity for an investor. Situated along the sea front of Marine Gardens, Margate - the plot contains three commercial units, two one-bedroom apartments that are in decent decorative order and four two-bedroom apartments in need of full refurbishment. All apartments within the blocks have stunning views across the Margate sands along with the Clocktower and Harbour Arm. The blocks sit moments away from the train station and thriving town centre making this an ideal place to invest! The property currently needs refurbishment throughout therefore will ideally need an experienced developer to take this project on. With the commercial leases soon to be coming to an end the potential of having the entire plot vacant gives utter freedom for a creative investor. This property has been passed down through the generations by its current owners and has not seen any previous public marketing over the years - expressing how unique this opportunity is! The plot really needs to be viewed to fully appreciate what's on offer. Viewing is strictly by appointment only, call Parkland Estates today to arrange your accompanied viewing today.

Communal Area One

This communal area gives access to the two one bedroom flats in good decorative order along with the additional storage. - The communal area is carpeted and in good decorative order, the metres are housed within this space, steps lead up to the half landing. - On the half landing there are two storage units that are allocated for the flats. - On the first floor landing there is then access to the two one bedroom flats.

Apartment One - One Bedroom

From the landing you step into the carpeted one bedroom flat - Approximate measurements & descriptions are as follows;Hallway - 7.02' x 10.07 Leading to each of the rooms within the flat, wall hung radiator within the hallway space. Kitchen - 9.08' x 10.06 - Modern kitchen units and integrated appliances with two sash windows looking out the rear of the property with the prestigious Dreamland theme park within view. Bedroom - 11.08' x 9.02' - Floor to ceiling sash window expressing the true character the building has, overlooking the main Margate sands, Clocktower and harbour arm. The sash window opens out onto the small balcony space. Living Room - 12.04' x 15.00' - Two large floor to ceiling sash windows again over looking the main Margate sands, Clocktower, Harbour Arm & old town in the distance. The window also open out onto the small balcony space. Bathroom - 6.10' x 10.05 - Single Shower cubicle, basin, WC, heated towel rail and extractor. The flat is in decent decorative order and with some small amendments would be ready to live within or rent out.

Apartment Two - One Bedroom

From the landing you step into a carpeted one bedroom flat again (Directly across the landing from flat one within this block) - Approximate measurements & descriptions are as follows;Hallway - 11.00' x 4.05' - The fuse board is housed within this space, a wall hung radiator and access to each of the rooms within the apartment. Living Room - 15.00' x 13.01' - Two floor to ceiling sash windows overlooking the main Margate sands, similar to flat one. In good condition with a wall hung radiator in place. - Kitchen - 9.01' x 9.01' - Similar style to flat one; modern kitchen units and appliances with a sash window facing out to the rear of the property with Dreamland in the distance. Bedroom - 15.02' x 9.00' - Large floor to ceiling sash window with immediate views of the Margate sands. - Bathroom - 13.11' x 4.02' - Bathroom suite comprising bath with shower unit, WC, basin and towel rail. There is a small window to the rear allowing natural light in along with additional internal storage space. The flat is again in decent decorative order and with some small amendments would be ready to live within or rent out.

Communal Area Two - Project

Via a separate entrance stepping into a porch area, another door then leads into the communal area that gives access to the four remaining two bedroom flats within the blocks. - This block and apartments within are in need of complete refurbishment. - The communal area houses the metres for the apartments, steps lead up to the half landing where the storage units have been adequately split for each flat. - Steps then lead up to the first floor giving access to the first apartments.

Split Level Apartment - One

As you enter the first Apartment on the first floor stairs immediately lead up to the half landing;Room - 9.11' x 7.08' - Sash window to the rear looks onto the back of Dreamland theme park. Visible pipework and new wiring - room in need of refurbishment. Hall - 9.05' x 5.08' - Additional under stairs storage space, access to the each of the rooms within the apartment. - Shower Room / Bathroom - 6.05' x 5.01' - Pipework is visible - Separate Toilet / Storage Room - 5.05' x 3.08' - Frosted sash window to the rear of the property - Bedroom One - 10.04' x 10.09' - Double bedroom with large sash window to the rear of the property and some built in storage space. - Second Bedroom - 14.08' x 8.01' - Sash window looking out over the Margate front, the harbour arm and the old town within direct view. - Living Room - 11.09' x 13.07' - Two large sash windows again looking out onto the main Margate front. - The flat is in need of complete refurbishment before being able to live within or rent out.

Split Level Apartment - Two

Via the landing stairs lead up to the second floor giving access to Apartment Two. Stepping into the apartment straight into theHallway - 5.10' x 17.02' - Split level hall leads to each end of the apartment - Bedroom - 11.10' x 8.06' - Sash window facing out to the front of the property with views of the main Margate sands - Living Room - 12.11' x 15.00' - Two large sash windows over looking the Margate front. - Bedroom Two - 13.11' x 15.02' - One sash window facing out to the rear of the property over looking the Dreamland theme park. - Steps down leading to; Bathroom/Shower Room - 3.00' x 13.00' - This would likely be the used as the bathroom/shower room as the back room has been split - Kitchen - 10.01' x 6.03' - Window facing out to the rear of the property looking over Dreamland theme park. The flat is in need of complete refurbishment before being able to live within or rent out.

Apartment Three - Top Floor

Steps lead up to apartment three, this apartment like the others needs work but has the additional benefit of having a vast amount of loft space. Hallway - 5.11' x 11.05' - Access to built in storage along with access to the loft space - Bedroom One - 10.09' x 11.07' - The room has a sash window facing out to the rear of the property over Dreamland theme park but in need of full refurbishment like the rest of the flat. - Kitchen - 9.09' x 10.03' Sash window to the rear over looking Dreamland againBathroom - 7.03' x 4.04' - Visible Pipework - Living Room - 13.06' x 14.11' - Two large sash windows over looking the Margate front - Bedroom Two - 12.01' x 8.09' - Sash window to the front of the property with great views over Margate front. - This apartment is NOT split level, it again needs entire refurbishment before being able to live within or rent out.

Apartment Four - Top Floor

From the landing on the second floor steps lead up to apartment four, this apartment like the others needs refurbishing. Bedroom One - 11.06' x 14.06' - Window facing out to the rear overlooking Dreamland theme park. - Bedroom Two - 11.11' x 7.04' - Large sash window facing out to the front of the property overlooking the main Margate sands. - Kitchen - 10.07' x 10.03' - Window facing out to the rear overlooking Dreamland Theme Park. In need of complete refurbishment. Shower Room - 3.08' x 8.04' - Visible Piping - Living Room - 11.10' x 14.05' - Two large sash windows overlooking the Margate front, fantastic views.

Commercial Unit One

Currently under a commercial lease, the company operating out of this space are 'Clock Tower Kebab House' - A5 Shop unit let on standard commercial lease for a 25 year term from April 1996 at a rent of £7,800 per annum. Lock-up A5 Retail shop unit - estimated ITZA area of 586 Square feet. Ground Floor - Front Cooking/Takeaway area - 16.6' x 23.5' - Stockroom - 11.8' x 10.10' - Inner Lobby - 3.4' x 4.2' - Utility Area (Two Sections) - 3.3' x 9 + 6.9' x 6.2' - Rear Storeroom - 7.1' x 22.3' - BasementDisused WC with Fire Exit - Plant Room - 10.4' x 10.4' - Storeroom - 5.10' x 13.9' - Storeroom 2 - 10' x 8' - Stairwell - 5.1' x 30' - Storeroom Three - 7.5' x 14.6'

Commercial Unit Two - Vacant

Vacant A1 Retail shop unit - Previously occupying the space were a company called 'Clocktower News' Lock-up ground floor A1 shop unit - estimated ITZA area of 421 square feet. Ground Floor - Front retail sales area - 18.4' x 15.6' - Lobby - 3' x 6.8' - Upper Storage/Display Area - 13.4' x 13.1' - Rear Washroom with WC - 6.7' x 4'

Commercial Unit Three

Currently under a commercial lease, the company operating out of this space are 'Papps Fish & Chips' - Belgrave Road - A3/A5 shop unit let on a standard commercial lease for a term of 15 years with effect from November 2003 at a current passing rent of £9,000 per annum. - Lock-Up A3/A5 retail shop unit - estimated ITZA area of 710 square feet. Ground FloorTakeaway Cooking/Serving Area with adjoining seating area - 25.9' x 10.3' - Preparation Room with adjoining seating area - 12.6' x 20' - Upper seating area - 20.3' x 16.9' - Separate ladies' and gentleman's WC's with inner lobby and store cupboardBasement - Service Area with staircase - Preparation/Storeroom - 13.5' x 20.9' - Store/Freezer room - 14.10' x 13.5' - Storeroom - 14.6' x 8.8'

Agent Notes

None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. No appliances have been tested.



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