MAIDSTONE 7, 9, 11 Pudding Lane Inv
VIRTUAL FREEHOLD FOR SALE FULLY LET
7, 9 & 11 Pudding Lane
Maidstone Kent ME14 1PA
Description & Accommodation
Investment Highlights • Ground floor arranged as two retail units.
The retail units are arranged on ground floor only, with the following
• 7 Pudding Lane let to Games Workshop Ltd until 2022.
approximate areas and dimensions:-
• Total rents receivable £36,000 per annum.
7 Pudding Lane
• Offers in the region of £392,000 are invited.
Gross Frontage
19 ft 7 ins
5.96 m
• Initial net yield of 8.75%
Shop Depth
36 ft 4 ins
11.07 m
Ground Floor Sales
577 sq
53.60 sq m
Ground Floor Storage
146 sq
13.56 sq m
Location The county town of Maidstone is approximately 40 miles south east of London and 20 miles north west of Ashford.
The town provides
excellent connections to the M20 and in turn, the M25. The subject property is situated in a secondary, yet popular, position in the town with the entrance to Fremlin Walk at one end, and the High Street at the other.
9 & 11 Pudding Lane Net Frontage Return Frontage Shop Depth Ground Floor Sales
Cradick Retail for themselves and the vendors of this property whose agents they are give notice that: 1) The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract. 2) All statements contained in these particulars as to this property are made without responsibility on the part of Cradick Retail or the vendor or lessor. 3) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely upon them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them. 4) No person in the employment of Cradick Retail has any authority to make or give any representation or warranty whatever in relation to this property. We are fully registered under the Data Protection Act 1998 and personal data is collected, held and processed by us in accordance with the Act. For a full copy of our privacy policy, please refer to our website www.cradick.co.uk.
28 ft
8.53 m
9 ft
2.74 m
30 ft 7 ins
9.32 m
1,100 sq
102.19 sq m
Tenure
Energy Performance Cer ficate
999 year lease from 2010 at a peppercorn rent.
Copies of the EPCs are attached.
Tenancies
Legal Costs
7 Pudding Lane
Each party is to be responsible for their own costs involved in the
This unit is let to Games Workshop Ltd (Company Registration No.1467092) for a 10 year term expiring 20 October 2022 at a rental of £15,000 per annum exclusive. There is an upward only rent review and tenant option to break effective 21 October 2017. Games Workshop currently trade from some 120 stores in the UK. For the year ended 1 June 2014, the company reported sales of £87.2m with an operating profit of £12.6m.
transac on
9 & 11 Pudding Lane The shop is let to JB Ward & Company for a term of 10 years from 25 December 2006 at a rental of £21,000 per annum exclusive. The lease was assigned to Pages Schoolwear Ltd (Company Registration No.7038635) with effect from 19 October 2009 at the same rent. There are no further reviews within the term.
Contact For further informa on or to arrange an inspec on of the property please contact the vendor’s agent:‐ Emma Clarke 01892 707512 07799 604406 [email protected]
Stephen Cradick 01892 707507 07798 825932 [email protected]
Terms Our client is invi ng offers in the region of £392,000 for the long leasehold interest, subject to the tenancies detailed above. VAT will be applicable. A purchase at this level will reflect a net return of 8.75%, after allowing for purchaser's costs at 4.8%.
SUBJECT TO CONTRACT
Maidstone
Experian Goad Plan Created: 15/04/2015 Created By: Cradick Retail
50 metres
Copyright and confidentiality Experian, 2015. © Crown copyright and database rights 2015 Ordnance Survey 100017316 PoweredbyTCPDF(wwwct.pdo .frg)
For more information on our products and services: www.experian.co.uk/goad | [email protected] | 0845 601 6011
Energy Performance Certificates
7, 9 & 11 Pudding Lane
Maidstone Kent ME14 1PA
Description & Accommodation
Investment Highlights • Ground floor arranged as two retail units.
The retail units are arranged on ground floor only, with the following
• 7 Pudding Lane let to Games Workshop Ltd until 2022.
approximate areas and dimensions:-
• Total rents receivable £36,000 per annum.
7 Pudding Lane
• Offers in the region of £392,000 are invited.
Gross Frontage
19 ft 7 ins
5.96 m
• Initial net yield of 8.75%
Shop Depth
36 ft 4 ins
11.07 m
Ground Floor Sales
577 sq
53.60 sq m
Ground Floor Storage
146 sq
13.56 sq m
Location The county town of Maidstone is approximately 40 miles south east of London and 20 miles north west of Ashford.
The town provides
excellent connections to the M20 and in turn, the M25. The subject property is situated in a secondary, yet popular, position in the town with the entrance to Fremlin Walk at one end, and the High Street at the other.
9 & 11 Pudding Lane Net Frontage Return Frontage Shop Depth Ground Floor Sales
Cradick Retail for themselves and the vendors of this property whose agents they are give notice that: 1) The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract. 2) All statements contained in these particulars as to this property are made without responsibility on the part of Cradick Retail or the vendor or lessor. 3) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely upon them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them. 4) No person in the employment of Cradick Retail has any authority to make or give any representation or warranty whatever in relation to this property. We are fully registered under the Data Protection Act 1998 and personal data is collected, held and processed by us in accordance with the Act. For a full copy of our privacy policy, please refer to our website www.cradick.co.uk.
28 ft
8.53 m
9 ft
2.74 m
30 ft 7 ins
9.32 m
1,100 sq
102.19 sq m
Tenure
Energy Performance Cer ficate
999 year lease from 2010 at a peppercorn rent.
Copies of the EPCs are attached.
Tenancies
Legal Costs
7 Pudding Lane
Each party is to be responsible for their own costs involved in the
This unit is let to Games Workshop Ltd (Company Registration No.1467092) for a 10 year term expiring 20 October 2022 at a rental of £15,000 per annum exclusive. There is an upward only rent review and tenant option to break effective 21 October 2017. Games Workshop currently trade from some 120 stores in the UK. For the year ended 1 June 2014, the company reported sales of £87.2m with an operating profit of £12.6m.
transac on
9 & 11 Pudding Lane The shop is let to JB Ward & Company for a term of 10 years from 25 December 2006 at a rental of £21,000 per annum exclusive. The lease was assigned to Pages Schoolwear Ltd (Company Registration No.7038635) with effect from 19 October 2009 at the same rent. There are no further reviews within the term.
Contact For further informa on or to arrange an inspec on of the property please contact the vendor’s agent:‐ Emma Clarke 01892 707512 07799 604406 [email protected]
Stephen Cradick 01892 707507 07798 825932 [email protected]
Terms Our client is invi ng offers in the region of £392,000 for the long leasehold interest, subject to the tenancies detailed above. VAT will be applicable. A purchase at this level will reflect a net return of 8.75%, after allowing for purchaser's costs at 4.8%.
SUBJECT TO CONTRACT
Maidstone
Experian Goad Plan Created: 15/04/2015 Created By: Cradick Retail
50 metres
Copyright and confidentiality Experian, 2015. © Crown copyright and database rights 2015 Ordnance Survey 100017316 PoweredbyTCPDF(wwwct.pdo .frg)
For more information on our products and services: www.experian.co.uk/goad | [email protected] | 0845 601 6011
Energy Performance Certificates
