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Terms and Conditions

By submitting a bid you confirm, you have read and understood the terms of sale and special conditions in the legal pack and have clarified all information with your solicitor.

If you’re the successful bidder, you agree to pay the deposit amount and fees and charges associated with this property immediately after the end of the auction.

By placing a bid, you are authorising the auctioneer to sign the contract of sale on your behalf. The exchange of contracts will take place immediately and which point you will become legally bound to purchase and the deposit will contribute towards the purchase price.

Online auction

6 Flats (5x 1 Bedroom & 1x 2 Bedroom), Archway, Ramsgate, CT11 9EN

Archway Road, Ramsgate, UK

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Current Bid

£600,000

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End: 04-03-2021 15:30:00

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(Fees Apply)
The sale of this lot is subject to an auction administration fee, the greater of £2,500 + VAT or 1.75% +VAT of the purchase price.
  • Leasehold
  • 7 Bedrooms
  • 6 Reception Room
  • 6 Bathrooms
  • Town Center
TMS Estate Agents
01843 866055

37 High Street, Broadstairs, Kent, UK, CT10 1JR

  • Leasehold
  • 7 Bedrooms
  • 6 Reception Room
  • 6 Bathrooms
  • Town Center
TMS Estate Agents
01843 866055

37 High Street, Broadstairs, Kent, UK, CT10 1JR

Flats 1, 2, 3, 5, 6 & 9 Archway Road, Ramsgate, CT11 9EN

Guide Price - £600,000 +

6 INDIVIDUAL LEASEHOLD VACANT RESIDENTIAL FLATS

 

Property Description

6 FLATS -  5X 1 BED FLATS AND 1X 2 BED FLAT.

• NEW BUILD ONE AND TWO BEDROOM APARTMENTS • TOWN CENTRE LOCATION • BUILT TO A VERY HIGH STANDARD • COMMUNAL ROOFTOP TERRACE • INTERCOM ENTRY SYSTEM • CLOSE TO HARBOUR • GREAT RETURN IF LET • LOW RUNNING COSTS • 

• HOLIDAY LET RENTALS ALLOWED 

A fabulous new development of five x one bedroom apartments and one x two bedroom apartment situated in the heart of Ramsgate. Located just a 'stones throw' from the Royal harbour with its eclectic mix of bars and restaurants giving Ramsgate a wonderful,cosmopolitan feel at any time of year. There are many independent shops as well as supermarket shopping on its doorstep alongside local transport links. The mainline train station with its high speed service to London is a mere 1km away 'as the crow flies'.

We estimate the rental income, dependent on whether its a 1 or 2 bedroom property, to achieve between £650 - £750pcm on an AST. There is short term let/holiday let available within the terms of the lease which could generate a much higher return. 

Accessed under the archway to communal front door with security intercom entry system. Main communal L-shaped reception hall to main stairway to the three floors. The apartments comprise a fully fitted kitchen with some integrated appliances, aluminium double glazed windows, fitted carpets, three piece bathroom suites, intercom entry system, communal rooftop terrace.

We have been advised of the following lease information (please confirm with your legal representative)

Flat Number Lease Term  Ground Rent  Service Charge (PM)
1 125 0 £100
2 125 0 £100
3 125 0 £100
5 125 0 £100
6 125 0 £100
9 125 0 £100

 

Energy Performance Rating

See Legal Pack

 

Auctioneers Note

The deposit for exchange of contracts on this property is 5% subject to a minimum of £5,000.

The completion period for this property is 21 days (3weeks)

 

Starting Bid and Reserve Price

*The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction which is generally no more than 10% in excess of the guide price. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price. Reserve prices are subject to change up to the date of the auction. Please note that Lots may be withdrawn prior to the end of auction

 

Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firm’s employment has the authority to make or give any representation or warranty in respect of the property. If the property is currently occupied during the term of the auction but is to be sold with vacant possession, the auctioneer and selling agent take no responsibility if the property is not vacated on or before completion.

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