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19 March 2024 19 March 2024 - 9:00am >
Lot 95
19 March 2024: Tuesday 19 March 2024 - 9:00am
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Key features
- Current rental income £44,138 p.a. (part vacant)
- A freehold Mixed-Use investment opportunity comprising of 2 x retail units, 3 x Offices and 1 x flat
- Instant asset management potential in letting out the vacant space and negotiating/ renewing the existing leases
- Planning permission approved for 3 additional dwellings above the shop (total 4 dwellings , 1 flat already existing above the shop)
- Planning application submitted for an additional 6 dwellings in part of the retail and office space on Castle Street which will deliver a total to 10 dwellings to the site (subject to the requisite consents)
- Situated on a popular high street and conveniently located for Tonbridge station
- 6 week completion
- VAT free investment
Description
Comprises a range of buildings at the northern end of the High Street, with both High Street and Castle Street frontages. The buildings are over ground, first and second floors with cellar.
The building comprises of 2 retail units at ground floor level, One of these retail units can also be accessed at the rear of the property via castle Street which also has shop frontage. There is vacant office/storage space at first floor level at 146 High Street and a flat located at 2nd floor level. An office situated over ground and first floor is accessed at Castle Street.
Planning has been achieved for an additional 3 residential dwellings on site, planning has been submitted for an additional 6 dwellings in the retail and office space on Castle Street.
Once planning is achieved this would give a total of 9 dwellings that can be built on site + the existing residential unit would allow for a total of 10 residential dwellings in the property and 2 retail units that would front onto the High Street (subject to the requisite consents)
Please refer to the plans for further details on the proposed development.
Nearby occupiers include a wide range of local boutique and independent retailers
Additional information
Tenure
Freehold.
Accommodation
146 High Street:
Ground Floor (Retail) - 564 sq. ft
Ground Floor (Ancillary) - 80 sq. ft
First Floor (Ancillary) - 178 sq. ft
148 High Street & part 8-10 Bank Street & 7 Castle Street:
Ground Floor (Retail / Storage) - 3,277 sq. ft
Cellars - 1,216 sq. ft
146A High Street:
First Floor (Offices) - 626 sq. ft
146B High Street:
First Floor (Storage) - 272 sq. ft
146C High Street:
Second Floor (Flat) - 780 sq. ft
Part 8-10 Bank Street & part 7 Castle Street:
Ground Floor - 109 sq. ft
First Floor - 1,490 sq. ft
Tenancy
Please refer to Accommodation/Tenancy schedule
Planning
Ton Bridge & Malling Borough Council
Ref: TM/22/01146/PDVGR
Description: Prior Notification: Change of use from a use within Class E (commercial, business and service) of Schedule 2 to the Use Classes Order, to a mixed use for any purpose within that Class and the conversion of the first floor to create to 2no. self-contained residential units
Proposed:
- Unit 1 = 1 bed 51.8 sqm
- Unit 2 = 1 bed 53.82 sqm
Status: Planning Approved
Ref: TM/22/00741/FL & TM/22/00847/LB
Description: Change of use of ground and first floor space from Ancillary Commercial (Use Class E)to Residential (Use Class C3) to form one self-contained residential unit
Proposed:
- Unit 1 = Duplex Flat 1 bed 58.35 sqm
Status: Planning Approved
2 Sperate planning applications submitted and validated for 6 x flats (not yet approved)
Ref: 23/03474
Description: Change of use and conversion of first floor from Class E (Office) to Class C (Residential) with internal alterations to form 3 residential units
Proposed:
- Unit 1 = 1 bed 53 sqm
- Unit 2 = 1 bed 51 sqm
- Unit 3 = 1 bed 50 sqm
Status: Application submitted
Ref:24/00142/PA
Description: Change of use and conversion of ground floor from class E (retail) to Class C (Residential) with internal alterations to form 3 residential units
Proposed:
- Unit 1 = 1 bed 64.57 sqm
- Unit 2 = 2 bed 85.57 sqm
- Unit 3 = 1 bed 61.84 sqm
Status: Application submitted
146 + 148 High Street are Grade II Listed. The buildings are all in a Conservation Area.
Rent
£44,138 p.a.
Notes
Please note the site areas provided are approximate and have been provided by a third party. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.
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