55-57 Grosvenor Road, Tunbridge Wells, Kent TN1 2AY

Location

Grosvenor Road is a secondary retail location close to the Royal Victoria Place Shopping Mall, with large multi storey car parks nearby and close proximity to the centre of town.

Grosvenor Road is one of the main arterial routes into the town centre.

This location is made up of a wide variety of local traders.

Description

This property is at the end of a terrace of similar style retail and residential buildings. The property comprises a ground floor retail premises, with basement area currently trading as a barber, having done so for around 20 years. The upper parts comprise 2 no. self-contained one-bedroom flats, which have been sold off.

Tenure

Freehold, subject to the tenancies as described below.

Tenancies

Retail

Lease Terms: Let to Storm 1st Ltd. for a period of 15 years from 20th July 2011.

Rent: Current passing rent of £12,000 per annum, exclusive of all other outgoings.

Repairing & Insuring Liabilities: The commercial tenant is responsible for a contribution of 50% to the landlord for repairs and maintenance to the building.

Residential

1st & 2nd floors – Each held on separate 99-year leases from 25/03/2001. The ground rents are £100 pa for each, with fixed uplifts of £50 per annum, at every 25th year interval, the next being 25/03/2026.

Each tenant has a 25% contribution to the freeholder for repairs and maintenance.

Guide Price

£190,000 – VAT is not applicable



Location


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Property Status

FOR SALE

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Property Details

Location: Tunbridge Wells
Description: Retail and ground rent investment for sale. Shop leased as a barbers, two flats above with a little over 75 years remaining on each lease.
Tenure: Freehold - subject to occupational tenancies
Price: Guide Price - £190,000
Terms: For Sale - SUBJECT TO THE OCCUPATIONAL LEASES.

Professional Services

Durlings have the expertise and local knowledge to carry out commercial valuations. Durlings are also able to offer both landlords and tenants representation in rent review or lease renewal negotiations. Find out more

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Contact us

22 Mount Ephraim Road,
Tunbridge Wells,
Kent. TN1 1ED

t: 01892 552 500 | f: 01892 535 526
e: office@durlings.co.uk

01892 552 500