150-152 High Street Tonbridge Kent TN9 1BB

150-152 High Street
Tonbridge
Kent
TN9 1BB

Freehold Restaurant Investment with Residential Planning Permission

Ground Floor let to Ask Restaurants Ltd (guaranteed by Ask Central plc) until August 2022
Planning permission for 4 x one bedroom and 1 x two bedroom residential flats on upper floors
Prominent High Street location
On-site car parking
Six Week Completion Available

Lot
44
Auction
18th October 2012
Rent
£65,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Restaurant Investment with Residential Planning Permission

Ground Floor let to Ask Restaurants Ltd (guaranteed by Ask Central plc) until August 2022
Planning permission for 4 x one bedroom and 1 x two bedroom residential flats on upper floors
Prominent High Street location
On-site car parking
Six Week Completion Available

Lot 44
Auction 18th October 2012
Rent £65,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Restaurant
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 5 miles north of Royal Tunbridge Wells, 15 miles south-west of Maidstone,31 miles south-east of Central London
Roads: A26, A227, B2260
Rail: Tonbridge Rail Station
Air: London Gatwick, London City

Situation

The property is situated in a prominent town centre location on the western side of the High Street, approximately 100 metres from Tonbridge Castle. Nearby occupiers include Natwest, The Slug & Lettuce, Threshers, Wetherspoons and Pizza Express.

Tenure

Freehold.

Location

Miles: 5 miles north of Royal Tunbridge Wells, 15 miles south-west of Maidstone,31 miles south-east of Central London
Roads: A26, A227, B2260
Rail: Tonbridge Rail Station
Air: London Gatwick, London City

Situation

Tenure

Freehold.

Description

The property comprises a modern ground floor restaurant with frontage to both High Street and Bank Street. The first floor is self-contained and accessed via Jeffrey’s Passage. It is currently arranged as office accommodation but is to be offered with the full vacant possession. The property benefits from a service area and on-site car parking to the rear.

Residential Planning Permission
Planning permission has been granted for the conversion of the first floor office space and a roof extension to create 4 x one bedroom flats and 1 x two bedroom flat. For further information please refer to the legal documents or the planning service at Tonbridge and Malling Borough Council http://www.tmbc.gov.uk (Ref: 12/00798/FL).

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground	Restaurant	413.23 sq m	(4,448 sq ft)	ASK RESTAURANTS LTD(1) (guaranteed by AskCentral plc) (2)	25 years from 19/08/1997 until 18/08/2022 on a full repairing and insuring lease	£65,000	19/08/2012 and 19/08/2017
First	Office	283.30 sq m	(2,565 sq ft)	VACANT POSSESSION(Residential planningpermission granted)
Totals		651.53 sq m	(7,013 sq ft)			£65,000

(1) For the year ending 26th June 2011, Ask Restaurants Limited reported a turnover of £193,348,000, pre-tax profits of £16,997,000 and a total net worth of £130,453,000 (Source: www.riskdisk.com 10/09/2012).
(2) For the year ending 26th June 2011, Ask Central plc reported pre-tax profits of £537,609,000 and a total net worth of £524,627,000 (Source: www.riskdisk.com 10/09/2012).