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84-96 Mount Pleasant Rd 5,118 sq ft Retail Unit Offered at £950,000 in Tunbridge Wells TN1 1RT
INVESTMENT HIGHLIGHTS
- The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation
- The property forms part of the Opera Colonnade which was constructed in 1902 in a symmetrical Neo-Georgian style with a Baroque centrepiece.
- Royal Tunbridge Wells is an attractive and affluent Kent spa town, situated c. 35 miles south east of London and 30 miles north east of Brighton
- The property is built of red brick with ashlar dressings, timber sash windows and topped with a feature copper dome
EXECUTIVE SUMMARY
The property forms part of the Opera Colonnade which was constructed in 1902 in a symmetrical Neo-Georgian style with a Baroque centrepiece. The property is built of red brick with ashlar dressings, timber sash windows and topped with a feature copper dome. It is Grade II listed and is situated in the Tunbridge Wells Conservation Area. The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation with self-contained access from Newton Road
PROPERTY FACTS Sale Pending
| Total Property Size | 28,795 sq ft | Typical Floor Size | 5,759 sq ft |
| Property Type | Retail (Unit) | Year Built | 1878 |
| Costar Property Class | B | Total Plot Size | 0.85 ac |
| Floors | 4 |
| Total Property Size | 28,795 sq ft |
| Property Type | Retail (Unit) |
| Costar Property Class | B |
| Floors | 4 |
| Typical Floor Size | 5,759 sq ft |
| Year Built | 1878 |
| Total Plot Size | 0.85 ac |
AMENITIES
- Security System
- Signage
1 UNIT AVAILABLE
Unit 96
| Unit Size | 5,118 sq ft | Sale Type | Investment |
| Price | £950,000 | Tenure | Freehold |
| Price Per sq ft | £185.62 | Net Initial Yield | 8.57% |
| Unit Use | Retail | NOI | £81,375 |
| Unit Size | 5,118 sq ft |
| Price | £950,000 |
| Price Per sq ft | £185.62 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 8.57% |
| NOI | £81,375 |
DESCRIPTION
The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation with self-contained access from Newton Road
SALE NOTES
Freehold.
Offers are sought in the region of £950,000 (Nine Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 7.5% on the rental income after allowing for purchaser’s costs of 5.22% plus £160 psf on the self-contained first and second floors.
TUNBRIDGE WELLS - 96 Mount Pleasant Road FHrgg
NEARBY MAJOR RETAILERS
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84-96 Mount Pleasant Rd
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