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Marine Gardens, Margate Offers in the Region Of £100,000

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    Marine Gardens
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    Marine Gardens
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    Marine Gardens
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    Marine Gardens

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The property is found in the heart of the town on Marine Gardens, the road linking the seafront (and clocktower) to the High Street and Cecil Square. Margate railway station is a few hundred meters from the property which overlooks a park and the beach beyond.

Nearby occupiers include Costa Coffee, Carphone Warehouse, Betfred, Boots the Chemist to name a few. There is a short-term car park on the opposite site of the road in Albert Terrace.

The property comprises a five storey building arranged as a ground floor betting shop, basement (former) bar, and three residential flats on the upper levels. The three flats are sold off on long leases and only produce a ground rent.

The ground floor is let to Megabet for a term of 15 years from April 2006 with a current rent passing of £9,500 per annum exclusive. The basement is currently vacant but we understand a rental in the region of £4,500/£5,000 should be achievable for this space.

The residential flats are sold off on leases for 125 years from 2016.



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Marine Gardens
Margate CT9 1UH
County: Kent
Sale Type: For Sale
Ref #: 00000146
Rics Zoopla Primelocation OnTheMarket Realla