Comprising Ground and First Floor Retail Accommodation
Located in The Pantiles, A Historic and Popular Tourist Destination
Affluent Commuter Town
Tenant in Occupation for over 20 years
Change of Use Potential of Upper Floors (subject to consents)
Lot 2
Auction 30th March 2023
Rent £27,500 per Annum Exclusive
Status Sold
Price £355,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
11 miles south of Sevenoaks, 17 miles south-west of Maidstone, 40 miles south of London
Roads
A21, A26, M25 (Junction 5)
Rail
Tunbridge Wells Railway Station (approx 40 mins to London Bridge)
Air
London Gatwick Airport, London Heathrow Airport
Situation
Royal Tunbridge Wells is an affluent and popular commuter town in the heart of Kent. The property is prominently situated in The Pantiles, a Georgian colonnade and the historic centre of Tunbridge Wells featuring an eclectic mix of prestigious independent boutique retailers and a busy market.
Tenure
Freehold.
Location
Miles
11 miles south of Sevenoaks, 17 miles south-west of Maidstone, 40 miles south of London
Roads
A21, A26, M25 (Junction 5)
Rail
Tunbridge Wells Railway Station (approx 40 mins to London Bridge)
Air
London Gatwick Airport, London Heathrow Airport
Situation
Royal Tunbridge Wells is an affluent and popular commuter town in the heart of Kent. The property is prominently situated in The Pantiles, a Georgian colonnade and the historic centre of Tunbridge Wells featuring an eclectic mix of prestigious independent boutique retailers and a busy market.
Tenure
Freehold.
Description
The property comprises an attractive Grade II listed end of terrace building providing retail and ancillary accommodation on the ground and first floors. The upper floor may be suitable for change of use subject to the necessary consents.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive Grade II listed end of terrace building providing retail and ancillary accommodation on the ground and first floors. The upper floor may be suitable for change of use subject to the necessary consents.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reversion
Ground First
Retail Retail/Ancillary
72.40 59.40
(779) (639)
BEDTIME KENT LIMITED t/a And So To Bed (1)
A term of years expiring 23/06/2019 (2)
£27,500
Holding Over
Total Approximate Floor Area
131.80
(1,418) (3)
£27,500
(1) And So To Bed is a luxury designer of bed frames and bedroom furniture with 22 showrooms across the UK and Ireland (www.andsotobed.co.uk). The tenant has been in occupation of the property since at least 2002. (2) The tenant has shown recent intent to renew their lease, please see legal pack for further information. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
