The property is a three storey end of terrace premises of frame construction with brick elevations beneath a flat roof. The premises comprise a single ground floor lock-up shop of 1,598 sq. ft. with return frontage occupied by A-Plan Holdings t/a A-Plan Insurance at a passing rent of £XXX pax. The upper 2 floors consists of 6 residential flats accessed via a communal staircase to the rear, all of which are let on long leaseholds currently generating ground rents of £XXX per annum per flat.
( Agency Pilot Software Ref: 201805 )
Location
The property is located in a prominent retailing position on the West side of Sevenoaks High Street at its junction with Pembroke Road. Sevenoaks is an affluent market town in Kent which is highly attractive to commuters. Nearby occupiers include Wagamama, Pizza Express, M&S, Tesco and Costa. The town is located just outside the M25, 40 miles south-east of Central London, 18 miles west of Maidstone and 14 miles north of Royal Tunbridge Wells. Road communications are excellent with the A25 3 miles to the north-west providing direct access to the M25. Rail services to London Charing Cross, Blackfriars and London Bridge provide frequent services to Central London with a journey time of 22 minutes.
Accommodation
1,598 sq. ft.
Terms
We are instructed to seek offers in excess of £XXX (five hundred thousand pounds) subject to contract and exclusive of VAT for the freehold. A purchase at this price would equate to a gross initial yield of 7.37%.
VAT
This property is elected for VAT and anticipate that the sale would be handled as a TOGC.
Legal Costs
Each side to bear its own legal and professional costs.
Service Charge
Service charge payable quarterly by all the tenants. Full details available on request.
EPC - Full EPC information available of request.
Planning - The property lies within the Sevenoaks High Street Conservation Area.
To view the tenancy schedule, please view the attached brochure.