Description

This property comprises a mixed-use development across ground, first and second floors. The ground floor comprises 2 separate self-contained retail/commercial units, with the first and second floors providing modern residential accommodation in the form of two separate one-bedroom flats. To the rear there is a detached self contained 1-bed house, accessed via the right-hand side of the building which includes a courtyard garden.

Directions

This property is prominently positioned on the High Street of Cranbrook, which consists of a wide range of local shops and amenities, including a Nationwide Building Society, Kingsfords and Buss Murton Solicitors, and a Co-op. Cranbrook is a picturesque historic market town in the Weald of Kent, which lies just 5 miles south of Staplehurst and can be accessed via the A229. Staplehurst railway station can provide direct trainline routes to London Bridge Station in under one hour, as well as Ashford International Station in about 20 minutes.

All Wrapped Up (NIA), Sq ft 774 / Sq m 71.95

Food for Thought (NIA), Sq ft 305 / Sq m 28.31

Flat 1 (GIA), Sq ft 339 / Sq m 31.50

Flat 2 (GIA) Sq ft 334 / Sq m 30.99

Detached 1 Bedroomed House (GIA) Sq ft 649 / Sq m 60.27

Total Sq ft 2,401 / Sq m 223.06

Rateable Value

All Wrapped Up, High Street, Cranbrook
RV £16,750 @ 49.9p in the £
Rates payable £8,358.25 for the year 2023/24

Food For Thought, High Street, Cranbrook
RV £8,300 @ 49.9p in the £
Rates payable £4,141.70 for the year 2023/24

Terms

£700,000 for the freehold.
Current rental income of £61,100.00 per annum, the quoting price reflects an ARY of about 8.72%.

In accordance with Money Laundering Regulations, we are now required to obtain proof of identification, and proof and source of funds for purchasers.

VAT

Unless otherwise stated, all rents/prices are quoted exclusive of Value Added Tax (VAT). Prospective occupiers should satisfy themselves as to any VAT payable in respect of any transaction.

EPC

All Wrapped Up - (C) 56

Food For Thought - (C) 68

Flat 1 - (D) 64

Flat 2 - (D) 56

Little Imber (cottage) - (D) 58

Legal Costs

Each side to bear its own legal and professional costs

Ground Floor, Tenant: All Wrapped Up, Rent (pa): £22,000.00 rent increase from September 2024. Lease start: 15/03/2019, Lease expiry: 15/07/2028, Break Clause: None, Rent Reviews: 3 yearly upward only, next review 16th July 2027.

Ground Floor, Tenant: Food for Thought, Rent (pa): £8,500.00 rent increase as of March 2025. Lease start: 27/03/2017, Lease expiry: 26/03/2027, Break Clause: Tenant 3-year break, Rent Reviews: 3 yearly upward only next review 1st April 2024.

First Floor, Tenant: Flat 1, Rent (pa): £7,800.00, AST start: 14/04/2022, Now periodic.

First Floor, Tenant: Flat 2, Rent (pa): £9,600.00, new AST predicted to start January 2025.

Ground Floor: Little Imber, Tenant: Rent (pa): £13,200, AST start: 11/12/2025.

First & Second Floor Flat (Ground Rent p.a £100.00). Lease start: 99 years from 1986, Lease expiry: 2085, Break Clause: None, Rent Review: None

Agents Note:- Tunbridge Wells Borough Council. In line with money laundering regulations (5th directive) all purchasers will be required to allow us to verify their identity and their financial situation in order to proceed.
 




Tenure: Freehold