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Tunbridge Wells - Freehold Shop and Residential Investment

For sale: £495,000.00|1671 Sq Ft|Retail, Residential, General Retail, Mixed Use, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£495,000.00
SIZE1671 Sq Ft
ADDRESS119 Camden Road, Tunbridge Wells, Kent, TN1 2QY
TYPERetail, Residential, General Retail, Mixed Use, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON6th July 2020

DESCRIPTION

Investment Consideration:
Comprises retail unit on the ground floor, one-bedroom flat on the lower ground floor and a two-bedroom maisonette on first and second floor. Lower ground floor flat benefits from having a garden.
Located next to Beach Street Car Park.
VAT is applicable to this property.
Occupiers nearby include number of independent restaurants, takeaways and café, while Royal Victoria Place Mall is within walking distance, which hosts retailers such as Boots, PureGym, O2, Ted Baker, Three, JD Sports, WHSmith and many more.

Property Description:
The property comprises Ground Floor Shop , One-Bedroom Flat on the Lower Ground Floor and a Two-Bedroom Maisonette on the First and Second Floor. The residential parts have separate access. The lower ground floor flat benefits from having a garden.

The property provides the following accommodation and dimensions:
No 119 (Ground Floor): Shop 28.30 sq m (305 sq ft)

No 119A (First/Second Floor): Two bedrooms, kitchen, living room, bathroom
85.00 sq m (914 sq ft)

No 119 (Lower Ground Floor): One bedroom, kitchen, living room, bathroom
42.00 sq m (452 sq ft)

Tenancy:
The ground floor shop is at present let to ANITA CARR for a term of 10 Years from 10th October 2019 at a current rent of £6,000 per annum. The lease provides for rent reviews every third year of the term and contains full repairing and insuring covenants. Next rent review in 2022. The tenant has option to determine in 2024 with no less than six months’ notice. The lower ground floor residential flat is at present let on an AST to an individual for a term of 12 month from 1st August 2019 at a current rent of £8,700 per annum. The first and second floor Maisonette is at present let on an AST to an individual for a term of 5 years from 1st August 2019 at a current rent of £10,200 per annum.

Location:
Royal Tunbridge Wells, previously just Tunbridge Wells, is a town in western Kent, England, 30 miles south-east of central London. Tunbridge Wells is at the hub of a series of roads, the primary ones being A26, A264 and A267. The A21 passes to the east of the town. The property is located on a prominent retail street amongst many independent traders including takeaway restaurants, café shops, tattoo studio and bicycle shop. Royal Victoria Palace Mall is within walking distance which hosts occupiers such as Boots, PureGym, O2, Ted Baker, Three, JD Sports, WHSmith and many more.

LOCATION

Location: 119 Camden Road, Tunbridge Wells, Kent, TN1 2QY

Tunbridge Wells (0.5 miles)

High Brooms (0.9 miles)

Frant (2.5 miles)

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