MAIDSTONE 16 High Street Inv
PRIME FREEHOLD RETAIL & RESIDENTIAL INVESTMENT FOR SALE GROUND & BASEMENT LET TO TSB BANK PLC *REVISED TERMS*
16 High Street
Maidstone Kent ME14 1HT
Location The county town of Maidstone is approximately 40 miles south east of London and 20 miles north west of Ashford.
Investment Highlights
The town provides
excellent connections to the M20 and in turn, the M25.
Attractive 1920's building in busy and popular High Street.
The property is situated in a busy trading location close to The Royal Star
• Ground floor and basement let to the undoubted covenant of
Arcade, NatWest and Barclay's Bank. Pedestrianised Week Street and The
TSB Bank plc until 2019. • Upper parts comprise 4 residential units sold off on long leases.
Fremlin Centre, together with the main public car parks, are all a short walk away.
• Total rents receivable £53,500 per annum. • Offers in the region of £650,000 are invited. •
Initial net yield of 7.78%
•
VAT is not applicable.
Following the separation from Lloyds Bank, TSB is rapidly promoting and developing the new brand and have stated they will be opening up to 30 new branches to add to the existing 631 in the near future.
Description & Accommodation This attractive mock Tudor style building is believed to date from the 1920's and is arranged over basement and ground floors as retail with four self-contained residential units at first, second and third floors.
The approximate measurements of the bank accommodation is as follows:Ground Floor Sales/Storage BBasement
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.
2086 sq
193.79 sq m
723 sq
67.17 sq m
Tenure
Energy Performance Cer ficate
Freehold
Copies of the EPCs are attached.
Tenancies
Legal Costs
Ground & Basement
Each party is to be responsible for their own costs involved in the
The ground floor and basement is let to TSB Bank plc on fully repairing and insuring terms for 15 years with effect from 22 December 2004. The rent payable is £52,500 per annum exclusive, subject to 5 year rent reviews.
transac on
Contact For further informa on or to arrange an inspec on of the property please contact the vendor’s agent:‐
Flats 1-4 The total ground rent payable is £1,000 per annum exclusive and each of the residential units are let on leases expiring 29 March 2130, at a ground rent of £250 per annum. The total rent receivable is therefore £53,500 per annum exclusive.
Emma Clarke T 01892 707512 M 07799 604406 E [email protected]
Stephen Cradick 01892 707507 07798 825932 [email protected]
Terms Our client is invi ng offers in the region of £650,000 for the freehold interest, subject to the tenancies detailed above. VAT will not be applicable. A purchase at this level will reflect a net return of 7.78%, after allowing for purchaser's costs at 5.8%.
SUBJECT TO CONTRACT
Maidstone
Created By: Cradick Retail 50 metres
For more information on our products and services: www.experian.co.uk/goad | [email protected] | 0845 601 6011 Copyright and confidentiality Experian, 2014. © Crown copyright and database rights 2014. Ordnance Survey 100019885 PoweredbyTCPDF(wwwct.pdo .frg)
Energy Performance Certificates
16 High Street
Maidstone Kent ME14 1HT
Location The county town of Maidstone is approximately 40 miles south east of London and 20 miles north west of Ashford.
Investment Highlights
The town provides
excellent connections to the M20 and in turn, the M25.
Attractive 1920's building in busy and popular High Street.
The property is situated in a busy trading location close to The Royal Star
• Ground floor and basement let to the undoubted covenant of
Arcade, NatWest and Barclay's Bank. Pedestrianised Week Street and The
TSB Bank plc until 2019. • Upper parts comprise 4 residential units sold off on long leases.
Fremlin Centre, together with the main public car parks, are all a short walk away.
• Total rents receivable £53,500 per annum. • Offers in the region of £650,000 are invited. •
Initial net yield of 7.78%
•
VAT is not applicable.
Following the separation from Lloyds Bank, TSB is rapidly promoting and developing the new brand and have stated they will be opening up to 30 new branches to add to the existing 631 in the near future.
Description & Accommodation This attractive mock Tudor style building is believed to date from the 1920's and is arranged over basement and ground floors as retail with four self-contained residential units at first, second and third floors.
The approximate measurements of the bank accommodation is as follows:Ground Floor Sales/Storage BBasement
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.
2086 sq
193.79 sq m
723 sq
67.17 sq m
Tenure
Energy Performance Cer ficate
Freehold
Copies of the EPCs are attached.
Tenancies
Legal Costs
Ground & Basement
Each party is to be responsible for their own costs involved in the
The ground floor and basement is let to TSB Bank plc on fully repairing and insuring terms for 15 years with effect from 22 December 2004. The rent payable is £52,500 per annum exclusive, subject to 5 year rent reviews.
transac on
Contact For further informa on or to arrange an inspec on of the property please contact the vendor’s agent:‐
Flats 1-4 The total ground rent payable is £1,000 per annum exclusive and each of the residential units are let on leases expiring 29 March 2130, at a ground rent of £250 per annum. The total rent receivable is therefore £53,500 per annum exclusive.
Emma Clarke T 01892 707512 M 07799 604406 E [email protected]
Stephen Cradick 01892 707507 07798 825932 [email protected]
Terms Our client is invi ng offers in the region of £650,000 for the freehold interest, subject to the tenancies detailed above. VAT will not be applicable. A purchase at this level will reflect a net return of 7.78%, after allowing for purchaser's costs at 5.8%.
SUBJECT TO CONTRACT
Maidstone
Created By: Cradick Retail 50 metres
For more information on our products and services: www.experian.co.uk/goad | [email protected] | 0845 601 6011 Copyright and confidentiality Experian, 2014. © Crown copyright and database rights 2014. Ordnance Survey 100019885 PoweredbyTCPDF(wwwct.pdo .frg)
Energy Performance Certificates
