TYPEGeneral Retail, Hotels, Other, Land, Retail, Licensed & Leisure, Other Property Types & Opportunities, Commercial Land
TENUREBusiness for sale, Development Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON20th September 2022
Description
Description
Prime Retail Unit currently let on flexible terms with Planning Consent to Redevelop the site into a 132-room hotel. Positive Pre-Application for alternative development of 45 residential units.
The property is a large, double fronted retail unit over ground and first floors totalling 9,796 sq ft, currently comprised as follows;
Ground Floor Sales: 516.00 sq m = 5,551 sq ft Ground Floor Ancillary: 155.58 sq m = 1,675 sq ft First Floor Ancillary: 206.26 sq m = 2,220 sq ft External Store: 32.51 sq m = 350 sq ft
Planning Planning permission was granted under Maidstone Borough Council Reference 19/505518 for the demolition of 12-14 Week Street and the redevelopment of the site into a 132-room Hotel which will total circa 66,000 sq ft over eight floors including roof top bar with restaurant and terrace.
Positive pre-app has also taken place with Maidstone Borough Council for an alternative scheme of 45 Residential units being a mix of 1, 2 and 3 bed apartments.
Further information is available in the data room upon request.
Prime Retail Unit
Planning Approval for 132-room Hotel (MBC ref: 19/505518)
Positive Pre-App For Residential Scheme of 45 Apartments
Currently Let On Flexible Terms at £30,000 per annum
Offers In Excess of £3,000,000
Tenure Comments
Freehold held under Title numbers K694839 and K698920 ( Agency Pilot Software ref: 202220 )