1 HIGH STREET ESTATE
Central Tonbridge location close to Tonbridge Train Station
Site area of 0.4 acres
Planning consent granted for the conversion of the first floor offices of 1 High Street to 12 apartments with no
social / affordable units
New short term lease to Poundstretcher expiring 24th March 2021
Three further retail units, with two let to Co-Op Funeral Care
Two apartments situated above Co – Op Funeral Care, currently let on ASTs
Total passing income of £124,730 per annum exclusive
Instructed to guide £2,650,000 (Two Million Six Hundred and Fifty Thousand Pounds) plus VAT, subject to contract and the existing tenancies.
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.
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.
I HIGH STREET
Occupying a large substantial site fronting both the High Street and Vale Road. The entirety of the ground floor is let to Poundstretcher. The rear yard provides car parking and loading/unloading for the principal tenant Poundstretcher and around 15 car parking spaces. The yard is gated.
The first floor office accommodation is currently vacant in order to facilitate the residential development.
1A, 1B – 1C HIGH STREET
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 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.
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.
1-bedroom apartment with an open plan kitchen / living room and separate bathroom
The Co-Op Funeralcare has 4 car parking spaces allocated to the unit. Each flat has one space allocated.
Planning consent has been granted for the conversion of the upper parts to 12 new apartments (all private units with no affordable) under the following two applications:
Prior Notification: change of use from Offices (Class B1a) to 12 dwellinghouses (Class C3): Schedule 2, Part 3, Class O to the Town and Country Planning (General Permitted Development) (England) Order 2015 (as amended)
External alterations to existing facades and roof to accommodate permitted development application, reference no. TM/20/00296/PDVOR
Each flat could benefit from its own car parking space.
NEW PLANNING APPLICATION
A new planning application is to be submitted to create the following:
Two new High Street retail units of circa 1,000 sq. ft. each
Six smaller retail units along Vale Road of circa 500 sq.ft. each
Three additional one bedroom apartments.
If granted, the site would benefit from planning for a total of 15 residential units with no affordable.
Full planning information available on request
or can be viewed here: https://www.dropbox.com/sh/704j4s74nkmwtzy/AAD7ca5CLmC0hdHr7G-YggJSa?dl=0
Tonbridge & Malling Borough Council
Kent, ME19 4LZ
BUSINESS RATES & COUNCIL TAX
Rateable Values 1 (GF Retail) = £79,000 1 (FF Offices) = £77,000
1A = £19,750 1B & 1C = £39,000
Council Tax 1B = Band B 1C = Band C
ENERGY PERFORMANCE CERTIFICATES (EPCS)
Retail 1 (Retail) = D79 1 (Offices) = D93
1A = F130 1B = F134 1C = D100
Residential 1B = D68 IC = D66
We are instructed to offer the estate for £2,650,000 (Two Million Six Hundred and Fifty Thousand Pounds) plus VAT, subject to contract and the existing tenancies.
Consideration will also be given for the sale of 1 High Street and 1a, 1b – 1c High Street as two separate lots. Further information on request.
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