10 - 11 High Street Maidstone Kent ME14 1HT

10 - 11 High Street
Maidstone
Kent
ME14 1HT

Freehold High Street Retail Investment

Let to The British Heart Foundation
Busy Town Centre Location
Residential potential on Upper parts, Subject to Consents.
Approximately 8,742 sq ft (812.22 sq m)
Close to Fremlin Walk Shopping Centre with Parking for 760 Cars
Nearby occupiers include JD Wetherspoon, KFC, Starbucks, Wagamama, Nando's and Mountain Warehouse
VAT-Free Investment

Lot
3
Auction
9th May 2024
Rent
£45,000 per Annum Exclusive
Status
Sold
Price
£595,000
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

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Freehold High Street Retail Investment

Let to The British Heart Foundation
Busy Town Centre Location
Residential potential on Upper parts, Subject to Consents.
Approximately 8,742 sq ft (812.22 sq m)
Close to Fremlin Walk Shopping Centre with Parking for 760 Cars
Nearby occupiers include JD Wetherspoon, KFC, Starbucks, Wagamama, Nando's and Mountain Warehouse
VAT-Free Investment

Lot 3
Auction 9th May 2024
Rent £45,000 per Annum Exclusive
Status Sold
Price £595,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

Property Information

Location

Miles: 17 miles north-east of Tunbridge Wells, 37 miles south-east of Central London
Roads: A20, A229, A249, M20 (J6)
Rail: Maidstone East Railway Station
Air: London Gatwick Airport, London City Airport

Situation

Maidstone is the county town and administrative centre of Kent located 37 miles south-east of London. The property is situated in the heart of Maidstone town centre on High Street. Fremlin Walk Shopping Centre is located approximately 300m away with the Fremlin Walk car park providing 760 spaces. Other nearby occupiers include JD Wetherspoon, KFC, Starbucks, Wagamama, Nando's and Mountain Warehouse.

Tenure

Freehold.

Location

Miles: 17 miles north-east of Tunbridge Wells, 37 miles south-east of Central London
Roads: A20, A229, A249, M20 (J6)
Rail: Maidstone East Railway Station
Air: London Gatwick Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial retail unit with retail accommodation on the ground and first floors and ancillary accommodation on the first and second floors.
The property may be suitable for residential conversion to the upper parts subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Reversion
Ground First Second	Retail Retail/Ancillary Ancillary	343.92 332.54 135.76	(3,702) (3,579) (1,461)	BRITISH HEART FOUNDATION (CRN: 00699547) (2)	5 years from 06/05/2021 (3)	£45,000	05/05/2026
Total Approximate Floor Area		812.22	(8,742)			£45,000

(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates).
(2) The British Heart Foundation is a cardiovascular research charity that funds medical research related to heart and circulatory diseases and their risk factors, and runs influencing work aimed at shaping public policy and raising awareness. They have been established since 1961 and trade from over 600 stores across the UK (www.bhf.org.uk).
(3) The lease is subject to a 6 monthly rolling mutual option to determine the lease.

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.