Vaughan Chambers 4 Tonbridge Road Maidstone Kent ME16 8RP

Vaughan Chambers
4 Tonbridge Road
Maidstone
Kent
ME16 8RP

Freehold Office Investment

Prominent four storey fully let office building
8,972 sq ft with 28 on-site car parking spaces
Tenants Perspective South East Limited on a new 10 year lease (2) and One, Two, Three Send Limited on a lease expiring 2027 (1)
Future development/residential potential (7)
Close to Maidstone West railway station

Lot
43
Auction
5th December 2018
Rent
£122,084 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Office Investment

Prominent four storey fully let office building
8,972 sq ft with 28 on-site car parking spaces
Tenants Perspective South East Limited on a new 10 year lease (2) and One, Two, Three Send Limited on a lease expiring 2027 (1)
Future development/residential potential (7)
Close to Maidstone West railway station

Lot 43
Auction 5th December 2018
Rent £122,084 per Annum Exclusive
Status Sold Post
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 25 miles west of Canterbury; 17 miles north-east of Tunbridge Wells; 35 miles south-east of London
Roads: A229, London Road (A20), A249,; M20 (Junction 6)
Rail: Maidstone East Railway Station; Maidstone West Railway Station
Air: London Heathrow Airport; London Gatwick Airport; London City Airport

Situation

Maidstone is the county town and administrative centre of Kent located 35 miles east of London, 35 miles north-west of Folkstone and 25 miles west of Canterbury. The town benefits from good transport links, with the M20 within 2 miles and the M25 19 miles to the east. There are regular rail services to London. The property is located on Tonbridge Road, close to its junction with London Road (A20), on the west side of Maidstone town centre near to Maidstone West railway station. Nearby occupiers include Crown Court, McDonald’s, Lidl, Premier Inn, Asda, Pure Gym and Odeon.

Tenure

Freehold.

Location

Miles: 25 miles west of Canterbury; 17 miles north-east of Tunbridge Wells; 35 miles south-east of London
Roads: A229, London Road (A20), A249,; M20 (Junction 6)
Rail: Maidstone East Railway Station; Maidstone West Railway Station
Air: London Heathrow Airport; London Gatwick Airport; London City Airport

Situation

Tenure

Freehold.

Description

The property comprises a four storey office building and benefits from comfort cooling/heating, raised floors, suspended ceilings, passenger lift, WCs, reception and 28 car parking spaces. The property has recently been refurbished with new lights on the ground floor, new carpets throughout and lighting upgrade in the WCs.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from conversion to residential use, subject to the current occupation and all the necessary consents/permissions. Interested parties are referred to Maidstone Borough Council (www.maidstone.gov.uk).

Completion Period

Six Week Completion

EPC

Band C. See legal pack at acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

Band C. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Office	200 sq m	(2,151 sq ft)	PERSPECTIVE (SOUTH EAST) LIMITED guaranteed by Perspective Financial Group Limited (3)	10 years from 10/05/2018 on a full repairing and insuring lease (2)	£30,000 (4)	2023
First Second Third	Office Office Office	233 sq m 241 sq m 159 sq m	(2,508 sq ft) (2,601 sq ft) (1,712 sq ft)	ONE TWO THREE SEND LIMITED guaranteed by CR7 services Limited (5)	10 years from 10/01/2017 on a full repairing and insuring lease (1)	£92,084 (6)	2022
Total		833 sq m	(8,972 sq ft)			£122,084

(1) Tenant’s option to determine in the 6th year upon 6 months’ notice.
(2) Tenant’s option to determine in the 5th year upon 6 months’ notice.
(3) Perspective Financial Group Limited is the parent company of 14 financial advisory firms and one discretionary fund management firm with over 150 staff (Source : www.pfgl.co.uk).
(4) Rent deposit of £18,000 held. ,
(5) For the year ended 31st December 2017 One Two Three Send Limited reported a turnover of £3,781,280, pre-tax profits of £418,430 and a net worth £3,083,647 (Source : Experian 5/11/208).
(6) Rent deposit of £55,250 held