More on KentOnline
More on KentOnline
A pub along with six flats, a yard and an outbuilding will go under the hammer at an online auction later this month.
The Bull's Head in Market Place in Margate is currently let at just under £35,000, but prospective buyers will have the chance to snap up the whole building, including the accommodation.
The pub and flats are let on separate leases and the freehold guide price for the lot is £650-700,000.
Jon Rimmer, auction appraiser, says it is an incredible opportunity to buy a substantial freehold block.
"It is close to the Turner Gallery, seafront and railway station and previously had permission for six town houses," he said.
"The well-known block is in the heart of Margate’s Old Town and there will be interest from investors."
The pub is among 137 lots listed by Clive Emson ahead of its next sale on September 23.
Another large Margate lot is 67-73 Northdown Road, a plot with permission to build two commercial units and 21 homes.
The site is on the corner of Athelstan Road and Northdown Road with a freehold guide price of £700-720,000.
James Emson, managing director at Clive Emson, said: "We look forward to September’s auction on our online platform, with a diverse range of land and property to suit different pockets.
"Residential and commercial property, along with land, continues to attract strong investor interest, with each one of our online auctions since lockdown attracting increasing lot numbers and digital audiences.
"Bidders are searching for far better returns than can be had with cash deposits in banks and building societies during this era of ultra-low interest rates.”
He added: "July’s auction saw a record number of online lots on offer, at 135, with three-quarters sold, and 30,000-plus people watching at various times."
