|Floor Area||NIA Approx. 720sq ft|
|Description||Phased Rent commencing £11,000 p.a.x|
LOCATION / SITUATION
Royal Tunbridge Wells is an affluent and historic Spa town situated approximately 35 miles south east of Central London. The Borough has a resident population of around 100,000 people.
The town is situated on the A26 which links via the A21 dual carriageway with Junction 5 of the M25 motorway and has a frequent train service to Central London (approx. 60 minutes minimum).
The property is situated within a parade of 7 units on the northern side of Crescent Road opposite Lanthorne Mews and Hotel du Vin.
Mid terrace town centre unit.
Enquiries of the TWBC Planning portal indicate that the most recent permitted use was a D2 Fitness Studio (Personal Training Studio) Refer App: 131/01624/FUL/SF7. Our client believes the property may suit other uses within Use Class E (Commercial, Business & service). Any interested party must rely upon their own enquiries of the Local Planning Authority.
Retail area: NIA approx. 412t² [38.2m²]
Rear office NIA approx. 88ft² [ 8.2m²]
Lower Ground Floor:
Stores: NIA approx. 220ft² [20.4m²]
The premises are available by way of a new effective Full Repairing and Insuring Lease for a term to be agreed.
The provisions of Sections 24-28 inclusive of the Landlord and Tenant Act 1954 are to be excluded from the Lease.
0-6 months: £11,000 per annum exclusive
7-12 months: £11,500 per annum exclusive
Year 2-first review: £12,000 per annum exclusive
Rent payable quarterly in advance on the usual quarter days.
We are advised that the rent will not attract VAT.
The ingoing Tenant will be required to provide a rental deposit to be held throughout the Term.
Enquiries of the VOA website indicate that the property is described as “Shop and Premises” and has a Rateable Value of £11,000.
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.
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 incurred in connection with the transaction save that the ingoing Tenant will be required to provide an undertaking to pay any abortive legal costs incurred by the Landlord.
Bracketts Tunbridge Wells office
Phone (01892) 559507