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Status Withdrawn Post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
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.
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
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.
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
(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).
Contacts
Seller's Solicitors
Warners Solicitors 180 High Street Tonbridge Kent TN9 1BD 01732 362452
