|Floor Area||473 sq ft [43.9 sq m]|
|Description||£10,250 per annum exclusive|
LOCATION / SITUATION
Cranbrook is an historical Wealden market town located approximately 12 miles east of Royal Tunbridge Wells and approximately 12 miles south of Maidstone.
The property is situated at the heart of the town centre close to the intersection of High Street, Stone Street and Carriers Road. The premises are situated within a traditional retail parade opposite the George Hotel.
Ground floor premises within an historic Grade II Listed building. The premises are currently used as an Estate Agency office but may suit other uses (subject to planning etc.)
Retail Sales Approx. 181ft² [16.8m²]
Rear Sales / Office Approx. 199ft² [18.5m²]
Rear Staff Approx. 93ft² [ 8.6m²]
TOTAL NIA Approx. 473ft² [43.9m²]
Our client is looking to dispose of the residue 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 from 5 October 2018 at a passing rent of £10,250 per annum exclusive. The lease incorporates a mutual break option exercisable by the Tenant or Landlord on 4 October 2023 subject to conditions.
The provisions of sections 24 – 28 inclusive of the Landlord & Tenant Act 1954 are excluded from the lease.
We are advised that the landlord has not waived its exemption from VAT – as such VAT is not applicable.
Enquiries of the VOA website indicate that the property has a Rateable Value of £7,900. The Small Business Rates multiplier for 2020/2021 is 49.9 pence in the £.
Subject to satisfying certain criteria the ingoing Tenant may qualify for small business rates relief.
Any interested parties are strongly advised to verify this information with the local rating authority.
The ingoing party will be required to provide a rental deposit to be held throughout the term of the lease.
Each party to pay own legal costs..
Bracketts Tunbridge Wells office
Phone (01892) 559507