For Sale: Amazing corner freehold opposite the Turner

Guide price £50k - £75k!
What an amazing location. Right on the corner, directly opposite Turner. Please someone with vision do something lovely for a change. I really cannot believe some of these crazy prices! It make an amazing cafe and has views over the main sands and the Turner.

A Freehold Building internally arranged to provide Basement and Ground Floor Shop and Two Self-Contained Flats. Shop Vacant, One Flat Vacant and One Flat subject to a Long Lease.

http://www.auction.co.uk/residential/LotDetails.asp?A=710&MP=24&ID=710000091&S=L&O=A

This is the building we complained eons ago had removed the discarded the ornamental snake above the door when they renovated it into a shortlived estate agents for only a few months. Such a shame.

For Sale: Gate Quays, Marine Gardens, Margate CT9 1RU

Found on London auctioneers Allsop's website:

http://www.auction.co.uk/residential/LotDetails.asp?A=709&MP=24&ID=709000125&S=L&O=A

The awful development on Marine Drive, that ended up loads taller in height than it was supposed to be, and has always stood empty since it was built. Really what is the point of this kind of regeneration development?

Update:

I don't know the planning status on 5-6 Marine Drive. But from this lengthy Leasehold Valuation Tribunal decision (PDF) from February 2010 between a Flat 17 and the freeholder Comehomes Cororation Limited it is supposed to have been built 15 years ago. 12 flats were sold on long leases and the remainder vacant. Sounds like a miserable affair with the leaseholder suffering from unfinished communal areas, no letterbox and no provision of service charge accounts. They were hounded with £25 a pop letters from the freeholder! Nice.

Talking of moving to Margate - Kallis Restaurant for sale

I admit to having a little chuckle at this estate agent description of Margate for selling the Kallis greasy spoon cafe just up from the clock tower. A snip at £450k!

"Kalli's Restaurant is ideally located in the coastal resort of Margate in Kent. The business is situated on Marine Gardens, close to the promenade and is surrounded by complementary shops and businesses. Margate is an affluent coastal town with wide sandy beaches and a strong tourist industry. The town boasts easy access by rail and road with the A28 to Canterbury, which lies approximately 17 miles away."

Is there such a thing as mis-selling?

For Sale: Old Town Gallery

Old Town Gallery, originally uploaded by margatearchitecture.

We were really sad to see that Margate's Old Town Gallery closed down a few months ago. Stephen Roper was one of the first traders to stick it out and open a business in the Old Town. It's such a shame that things didn't work out, so close to things seemingly starting to really work in The Old Town.

The building is now for sale.

Georgian Grade II Listed House for Sale

26 Hawley Square is the one on the left of the picture

As usual, the Thanet estate agents have excelled in advertising a Grade II Listed Georgian house by failing to mention that it is Georgian or Grade II Listed. Really there is much work to be done here in Thanet.

How crazy is it that the only sales pitch they have for selling a grade II listed building is to describe that it has plug points, stairs up and down and a dado rail!? They really have no clue. Does anyone put into Google dado rail or stairs up and down?

But I digress. Here are the details of the house which forms part of a pair, situated on the historic Hawley Square with over 30 listed properties surrounding a central green tree lined square.

http://www.oakwoodhomes.biz/details.php?id=MAR0000014

Details of the listing of 26 Hawley Square:
http://www.imagesofengland.org.uk/details/default.aspx?id=356562

For sale: Flat 15, 8-10 Ethelbert Terrace, Kent CT9 1RX

A Leasehold Self-Contained Third Floor Flat.

http://www.auction.co.uk/residential/LotDetails.asp?

A=640&MP=24&ID=640000365&S=L&O=A

Guide Price: TBC

Auction date: 15th July

Venue: The Cumberland Hotel, Great Cumberland Place, London, W1H 7DL

For sale: 6A Lombard Street, Kent CT9 1EJ

Situated in Margate's Old Town and cultural quarter. A Leasehold Self-Contained First Floor Flat subject to an Assured Shorthold Tenancy in a Grade II Listed Georgian building.

Lot details:

http://www.auction.co.uk/residential/LotDetails.asp?A=640&MP=24&ID=640000370&S=L&O=A

Details of Grade II listing:

http://www.imagesofengland.org.uk/Details/Default.aspx?id=356610&mode=adv

Guide Price: TBC

Auction date: 15th July

Venue: The Cumberland Hotel, Great Cumberland Place, London, W1H 7DL

For sale: 31 & 32 Fort Crescent

Up round the corner from the Turner Contemporary gallery, this imposing Grade II Listed Georgian seafront property is up for a crazy £170,000 - £190,000.

A Freehold Double Fronted End of Terrace arranged to provide Seven Self-Contained Residential Units. Three Units subject to Leases, Four Units subject to Assured Shorthold Tenancies (Lot 342). Together with a House to the Rear which is subject to an Assured Shorthold Tenancy (Lot 343). To be offered either Individually or Collectively.

Guide Price: £170,000 - £190,000

Sold: £307,000

Auction date: 15th July

Venue: The Cumberland Hotel, Great Cumberland Place, London, W1H 7DL

http://www.auction.co.uk/residential/LotDetails.asp?A=640&MP=24&ID=640000356&S=L&O=A

Details of listing on English Heritage's Images of England website:

http://www.imagesofengland.org.uk/Details/Default.aspx?id=356532&mode=adv

For sale: 2-3 Market Place

Offered as two lots. Shops on the ground floor with space above.Was previously supposed to be live work. These are lovely Georgian buildings sitting at the heart of Margate's Old Town on the pedestrian section of the street.

Details of the sale 1st lot

Details of sale 2nd lot

Guide price £60,000 - £90,000

Result: £80,000

For sale: 7 & 9 King Street

Back to the auctions in London. This is the sale of a Georgian building in Margate's Old Town. It's a great shop.

Details of the sale which takes place on the 6th of July.

Guide price £40,000 - £60,000

Result: £70,000

Auction Results

Going, going...gone.

6a Duke Street £45,000

6B Duke Street £49,000

Flat 1, 5 Union Crescent £23,000

1, 2 & 3 Lynton Parade and 97 Northdown Road £81,000

101 & 101a Northdown Road £57,000

Flat 2, Royal York Mansions £66,000

Flat 3, Royal York Mansions £54,000

Flat 5, Royal York Mansions £70,000

Flat 7, Royal York Mansions £62,000

Flat 8, Royal York Mansions £60,000

Flat 9, Royal York Mansions £64,000

Flat 14, Hollywood Court £89,000

2 Fort Crescent, Margate £101,000

Bargains still to be had in Margate it seems. Houses on Fort Crescent were up for over £300,000 a couple of years ago.

For sale: 6-8 Duke Street

Image from the listing on Images of England.

At the same auction as Royal York Mansions on the 27th of May at Allsops, there is also a couple of flats at 6-8 Duke Street in Margate's Old Town. The building is Georgian and Grade II Listed. Again what seems like a crazy guide price of £30k-£40k.

http://www.auction.co.uk/residential/LotDetails.asp?A=639&MP=24&ID=639000356&S=L&O=A

http://www.auction.co.uk/residential/LotDetails.asp?A=639&MP=24&ID=639000357&S=L&O=A

For sale: 6 flats in Royal York Mansions

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.

We apologise for the interuption in service...

Sorry folks, well, the small amount of readers of this little blog. I've neglected this blog over the last few weeks. But on one of my last trips out to survey the progress on Cliff Terrace, I noticed the bargain price of £139,000 has been literally scribbled out on the hoarding.



Is this indicative of a price hike or a price drop?

Hopefully, with the credit crunch biting someone will buy the job lot of them and reconvert to shops. Hopeful? No, but you can but dream.