Tonbridge - 76-78 High Street, TN9 1EE
Tonbridge is an attractive historic commuter and market town within the county of Kent, located approximately 33 miles (53 km) south east of London and surrounded by other major commuter towns such as Sevenoaks 7 miles (11 km) north, Maidstone 15 miles (24 km) north east and Tunbridge Wells 5 miles (8 km) south.
Tonbridge benefits from excellent road connections with the A21 providing direct access to Junction 5 of the M25 and M26, 10 miles (16 km) north which closely intersects with the M20. The A26 connects the town centre to Tunbridge Wells and the south coast.
Tonbridge Railway Station lies at the southern end of High Street and provides frequent services to London Bridge, Waterloo, Charing Cross and Cannon Street with fastest journey times of between 30-35 minutes and also Ashford International in 35 minutes.
Gatwick Airport is located 24 miles (38 km) west. Additionally, numerous bus routes run along High Street. The town centre benefits from plentiful car parking facilities supporting the retail centre and commuter population. There are 5 public car parks directly accessed via the High Street and 19 car parks centrally providing a total of 1,691 spaces.
The property occupies a 100% prime retail pitch on the most desirable northern end of the High Street. Nearby occupiers include Waitrose, Sainsbury’s, Starbucks, HSBC, NatWest, Lloyds Bank, Barclays, Subway, Cook, WH Smith, Boots, Greggs and Caffe Nero.
The subject property comprises a substantial retail unit fronting onto High Street arranged over ground and first floor. To the rear of the property, within the ownership, there is a large surface car park comprising 45 spaces accessed via Bradford Street and River Walk. The site is level and the building is not listed.
Immediately to the east and south west of the site are two recently developed, four storey retirement home and residential buildings.
The property is entirely let to Poundland Ltd on an assignment from the previous occupier Somerfield Stores Ltd expiring 25th June 2021 (2.8 years unexpired) at a passing rent of £167,600 pax. The June 2016 rent review is outstanding.
There is a sub-station lease to Seaboard PLC from 20/09/1971 expiring 28/09/2034 at £0 pax.
Current Rent PAX
The property has been elected for VAT.
£2,100,000 (Subject to Contract and exclusive of VAT )
7.50% - net initial yield
MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office.