Investment Consideration:
Gross Initial Yield: 7.25%
Rental Income: £50,400 p.a.
VAT is NOT applicable to this property
Comprises ground floor restaurant and 3-bed self-contained flat at first and second floor
Flat newly refurbished to a high standard. Restaurant benefits from 3-phase electric supply
Situated in the town centre within a short walk from Tonbridge Train Station and Sainsbury`s Superstore, with occupiers nearby including Londis, Domino`s Pizza, Pharmacy, Tonbridge Library, Restaurants, Beauty Salon and more.
Property Description:
Three-storey mixed use property comprising ground floor restaurant and self-contained 3-bed flat at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 79 sq m (850 sq ft)
Open plan restaurant, storage, kitchen, wc
First Floor: 41 sq m (441 sq ft)
Kitchen, living room, wc
Second Floor: 41 sq m (441 sq ft)
3 bedrooms
Total GIA: 161 sq m (1,732 sq ft)
Tenancy:
The entire property is at present let to an Individual for a term of 15 Years from 16th July 2025 at a current rent of £50,400 p.a. and the lease contains full repairing and insuring covenants. Rent review every 5 years linked to RPI. No breaks. Deposit held of £12,600.
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. The property is situated in the town centre within a short walk from Tonbridge Train Station and Sainsbury`s Superstore, with occupiers nearby including Londis, Domino`s Pizza, Pharmacy, Tonbridge Library, Restaurants and more.
