There have been some really beautiful properties recently sold at auctions in Margate, such as the Charlotte Centre on St John's Road going for £135k and The Cottage restaurant on the lower High Street for £90k. Which goes to show how under valued quality architecture is here when compared to the price of new build and especially when it is flats. There are a surplus of flats in Margate and Cliftonville. If these flats are not lived in by people who want to live in that location they're not seen as different to any of the other one or two bed flats in the area.
There is a mood in the air at the moment that something is happening. Obviously, the Turner Contemporary now standing in place and awaiting it's cladding has done a lot to change perception. Opportunities are here for a short space of time to buy something beautiful I think.
I was so surprised to hear that 6 flats and the freehold are going in Royal York Mansions on The Parade, slap bang over looking the harbour and now the Turner gallery and a couple of years after a major refurb and brand new roof. We looked at Royal York Mansions when we first thought of moving to Margate, but the owner appeared to not really be selling. These are now up through repossession. It's one of my absolute favourite buildings and has what I consider to be the finest original flats in the area. Many are split level with original period features or vaulted ceilings, staircases, fireplaces. And of course a view to die for. They're on at Allsops on May 27th with a guide price of £40k-£50k. Unbelievable.
It has a 199 year lease from 2005. Has stain glass windows in the communal areas complete with original sliding iron gated lift. Building has a brand new lead clad roof. The view of Margate harbour and main sands from this building is just stunning.