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Agent's details

London House

For sale: £750,000.00|3,587 Sq Ft|Other, General Retail, Other Property Types & Opportunities, Retail

Property details

FOR SALE£750,000.00
SIZE3,587 Sq Ft
ADDRESSLondon House, 4 Market Square, Westerham, TN16 1AW
TYPEOther, General Retail, Other Property Types & Opportunities, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON7th December 2021

Description

Key Points

  • Town centre mixed use investment
  • Development potential of upper parts (STP)
  • ERV circa £45,000
  • Grade II Listed Property
  • Existing business unaffected
  • Summary

    A Grade II Listed mixed use commercial property with extensive self contained living accommodation.

    Description

    4 Market Square is a landmark period building, providing retail/café space behind an attractive and extensive shop frontage to Market Square. The café provides a bright and welcoming space with additional seating to the rear and has an extremely useable basement storage area. The self contained apartment is arranged over 1st & 2nd floors and comprises well proportioned accommodation with many period features and views towards the North Downs. The apartment is approached by a separate side gate with a ground floor entrance and stairs leading to the 1st floor. Features of the apartment include: • A bright and spacious sitting room featuring period cornice mouldings, fireplace and multipane sash windows overlooking Market Square. • Attractive dining room with recessed glazed display cupboards, cornice mouldings, ceiling rose and multipane window. • Master bedroom suite with generously sized and luxuriously fitted en-suite bathroom with multipane windows providing views towards the North Downs. • Kitchen fitted with a range of units & drawers under granite effect work surfaces, 1 1/2 bowl enamel sink with mixer tap, corner shelving units and halogen spot lights. • Shower room with glazed shower unit, white pedestal basin and low level wc. • First floor rear roof top terrace & secluded second floor roof top terrace with views towards the North Downs. • Three further bedrooms. The upper parts could be split to provide two separate apartments, subject to the appropriate consents being obtained. Indicative drawings are available on request.

    Location

    4 Market Square occupies one of the most prominent positions in the heart of Westerham town centre at Market Square's (A25) junction with London Road (A355). Nearby retailers include Costa Coffee, The Italian Shop, and a number of highly acclaimed local restaurants. Westerham is a popular and historic small town located on the A25 approximately 5 miles west of Sevenoaks and 4 miles east of Oxted. The town is roughly equidistant from junctions 5 and 6 of the M25 (approx 5 miles) by the A25.

    Terms

    The property is available freehold, subject to the tenancies outlined below and subject to a ground lease to No 2 Market Square producing a nominal ground rent.

    Promo

    MIXED USE INVESTMENT

    Tenancies

    The ground floor is let on assignment in 2012 to a private individual trading as Deli di Luca for a term expiring 23 June 2024 at a current rent of £22,000 pa. The tenant has continued trading throughout the pandemic. The upper parts are now vacant and could be let at a rent of £1,700 - £1,850 pm. The ERV is therefore in the region of £45,000 pa. The shop rent was agreed in 2019.

    Location

    marker
    Location: London House, 4 Market Square, Westerham, TN16 1AW

    Hurst Green (3.3 miles)

    Oxted (3.4 miles)

    Edenbridge (4.1 miles)

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