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
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.
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
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
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.
