|Floor Area||NIA approx. 1,404 sq ft [130.3 sq m]|
|Tenure||Leasehold (by Assignment)|
|Description||Passing rent £15,000 per annum exclusive.
(Rising to £16,000 p.a.x. with effect from 1st September 2019).
LOCATION / SITUATION
The property is located in the affluent and historic market town of Tenterden approximately 12 miles south west of Ashford and approximately 20 miles east of Royal Tunbridge Wells.
The town has an excellent range of high quality shops anchored by Waitrose and with multiple retailers including Laura Ashley, Phase Eight, Mint Velvet, White Stuff, Monsoon, Crew, M & Co, and Waterstones.
The property is situated on the northern side of the High Street in a pitch favoured by independent retailers.
An attractive Grade II Listed town centre retail unit arranged over ground and lower ground floors with parking to the rear.
Retail Sales Approx. 854ft2 [79.3m2]
2 Car parking spaces to the rear
Lower Ground Floor:
Ancillary Office / Stores Approx. 550ft2 [51.0m2]
Our client is looking to dispose of its leasehold interest by way of an assignment.
The premises are held by way of an effective full repairing and insuring lease for a term of 10 years with 5 yearly rent reviews from 1st September 2016 at a passing rent of £15,000 per annum exclusive (rising to £16,000 pax with effect from 1st September 2019). The lease contains a Tenant break option exercisable on 31st August 2021 (subject to conditions). The provisions of sections 24 - 28 inclusive of the Landlord & Tenant Act 1954 are excluded.
Note - the annual service charge is subject to a cap and the Tenants repairing liability is limited by reference to a photographic schedule of condition.
VAT payable if applicable.
A copy of the lease is available upon request.
Enquiries of the VOA website indicate that the property is described as “Shop and Premises” and has a Rateable Value of £12,750. The Standard UBR for 2018 / 2019 is 49.3 pence in the £.
Interested parties are strongly advised to make their own enquiries of the local Rating Authority to verify this information.
Each party to be responsible for their own legal costs save that the acquiring party will be required to provide an undertaking for any abortive legal costs incurred by the Landlord.
Bracketts Tunbridge Wells office
Phone (01892) 559507