icons_size_white icons_size
menu

Agent's details

1A, 1B & 1C High Street Tonbridge TN9 1SG

For sale: £1,000,000.00|4,039 Sq Ft|Retail, Residential, Flat, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALE£1,000,000.00
SIZE4,039 Sq Ft
ADDRESSCo-Operative Funeral Service, 1B-1C High Street, Tonbridge, Kent, TN9 1SG
TYPERetail, Residential, Flat, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, Under Offer
POSTED ON16th September 2020

Description

1A, 1B & 1C High Street
Tonbridge TN9 1SG

COMPRISING THREE RETAIL UNITS
&
TWO APARTMENTS

PASSING INCOME OF £72,980 PA EX
45.90% OF INCOME (£33,500 PA)

PROVIDED BY CO-OP FUNERALCARE ANCHOR TENANT

LOCATION
Tonbridge is a thriving market town with a resident population of approximately
40,000. The town offers an excellent range of retail and leisure facilities with many
High Street stores, banks and building societies, together with a selection of coffee
shops, restaurants and local pubs. It boasts a fine example of a 'Motte and Bailey'
castle built in the 13th century, set on the banks of the river Medway.

Tonbridge mainline station provides fast commuter links into London (Cannon
Street/London Bridge/Charing Cross in approximately 35 – 50 minutes) with road
links to the M20 & M25 motorways via the nearby A26 and A21 dual carriageways.
Tonbridge also offers first-rate primary and secondary schools (including Grammars
and Public Schools) many of which consistently do well in the league tables.

SITUATION
The property is situated on the eastern side of the High Street, within a two-minute walk
of Tonbridge Station. Nearby commercial occupiers include Poundstretcher, Robert
Dyas, Boots, Greggs and Dominos, together with a variety of other independent shops
and eateries. There are two large public car parks in the immediate vicinity of the property
on nearby Angel Lane.

DESCRIPTION

The building comprises three retail units and two residential apartments that are
situated above 1B – 1C High Street (above the Co–Op Funeralcare who are in
occupation of 1B – 1C). 1a High Street has recently been let to a barber and comprises
ground and first floor accommodation. The premises are currently undergoing tenant
fitout works. The two residential flats were converted from retail storage areas in
2015/ 2016. There is a self contained entrance to the flats at the rear of the building,
accessed via Angel Lane.

1B

The unit benefits from a large living area and fitted kitchen as well as two double
bedrooms, one with an en-suite and a further shower room.

1C

1-bedroom apartment with an open plan kitchen / living room and separate bathroom
Parking

The Co-Op Funeralcare has 4 car parking spaces. A further 2 spaces (total of 6) will
be included in the sale.

TENURE

Freehold – the land and buildings known as 1a, 1b – 1c High Street, Tonbridge form part
of title no. K262782. A new title will be created for the sale.

BUSINESS RATES & COUNCIL TAX

Rateable Values 1A = £19,750 1B & 1C = £39,000

Council Tax 1B = Band B 1C = Band C

ENERGY PERFORMANCE CERTIFICATES (EPCS)

Retail 1A = F130 1B = F134 1C = D100

Residential 1B = D68 IC = D66

FOR SALE
We are instructed to invite offers in excess £1,000,000 (One Million
Pounds) subject to contract and subject to the existing tenancies outlined.
The price reflects an attractive gross initial yield of 7.30% and a net initial yield
of 6.90% based on purchasers’ costs of 5.70%.

VAT
The buildings are elected for VAT and VAT will be payable on the purchase
price. We understand it is possible for the sale to be treated as a Transfer of a
Going Concern (TOGC).

VIEWING AND FURTHER INFORMATION

Bracketts – 01732 350503

Jeffrey Moys
Email: jeff@bracketts.co.uk

John Giblin
Email: john.giblin@bracketts.co.uk

Location

marker
Location: Co-Operative Funeral Service, 1B-1C High Street, Tonbridge, Kent, TN9 1SG

Tonbridge (0.1 miles)

Hildenborough (2.4 miles)

Leigh (Kent) (2.7 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here