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1887 The Pantiles 1,516 sq ft Retail Unit Offered at £400,000 in Tunbridge Wells TN2 5TN
Investment Highlights
- 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 town is very popular with commuters and families with its range of schools, regular train services to London and easy access to the south coast.
- The 1887 development houses 127 luxury apartments including eight penthouse apartments, with four commercial units on the ground floor
- It has a thriving cultural scene and offers an eclectic combination of events and activities rarely found outside major cities.
Executive Summary
Taking inspiration from the Pantiles’ unique history and heritage, this stunning new landmark development combines classical elegance with contemporary convenience. The 1887 development houses 127 luxury apartments including eight penthouse apartments, with four commercial units on the ground floor, which are currently all occupied. 1887 is prominently positioned at the edge of the Pantiles. Known for hosting jazz evenings, farmers markets and various festivals, the Pantiles also boasts a number of boutique shops, restaurants and cafés. 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. Tunbridge Wells train station is only a five minute walk from the subject property, providing a direct service to London Bridge in approximately 50 minutes. The town is very popular with commuters and families with its range of schools, regular train services to London and easy access to the south coast. It has a thriving cultural scene and offers an eclectic combination of events and activities rarely found outside major cities.
1 Unit Available
Unit Unit C
| Unit Size | 1,516 sq ft | Sale Type | Investment |
| Price | £400,000 | Tenure | Freehold |
| Price Per sq ft | £263.85 | Net Initial Yield | 8.30% |
| Unit Use | Retail | NOI | £33,200 |
| Unit Size | 1,516 sq ft |
| Price | £400,000 |
| Price Per sq ft | £263.85 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 8.30% |
| NOI | £33,200 |
Description
Taking inspiration from the Pantiles’ unique history and heritage, this
stunning new landmark development combines classical elegance with
contemporary convenience. The 1887 development houses 127 luxury
apartments including eight penthouse apartments, with four commercial
units on the ground floor, which are currently all occupied.
1887 is prominently positioned at the edge of the Pantiles. Known for hosting
jazz evenings, farmers markets and various festivals, the Pantiles also boasts
a number of boutique shops, restaurants and cafés.
Sale Notes
The premises is occupied by Gold Optical on an effectively full repairing and
insuring lease for 15 years from 30th November 2022 at a commencing rent
of £35,000 per annum exclusive. The lease is subject to 5 yearly upward only
rent reviews to open market value, and a tenant break option at the 10th
year. There is also a three month rent deposit held.
999 year lease commencing 1 January 2020 Currently occupied by Gold Optical on a 15 year lease Price – offers in the region of £400,000
Property Facts
| Total Property Size | 95,739 sq ft | Floors | 7 |
| Property Type | Build-to-Rent (Unit) | Typical Floor Size | 13,677 sq ft |
| Property Subtype | Apartment | Year Built | 2022 |
| Costar Property Class | B | Total Plot Size | 0.78 ac |
| Total Property Size | 95,739 sq ft |
| Property Type | Build-to-Rent (Unit) |
| Property Subtype | Apartment |
| Costar Property Class | B |
| Floors | 7 |
| Typical Floor Size | 13,677 sq ft |
| Year Built | 2022 |
| Total Plot Size | 0.78 ac |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent pcm | sq ft |
|---|---|---|---|
| 1+1 | 475 | - | - |
Presented by
1887 The Pantiles
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