KENT - HIGH STREET RETAIL INVESTMENT (NET YIELD 7.3%)
Dartford, Kent
Ref: 40172
£295,000
Freehold
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Key Features
Location
The property is located in the large, urban town of Dartford, Kent. It is located approximately 18 miles south-east of central London and is adjacent to the London Borough of Bexley. Dartford became a market town in the medieval times and although today is principally a commuter town for Greater London, it has a long history of religious, industrial and cultural importance.
The property is situated in the heart of the town centre, along the pedestrianised high street, a busy retail district housing a number of multi-national retailers as well as The Priory Shopping Centre, theatre and park.
The town is easily accessed from the nearby M2/A2 and M25 motorways and benefits from rail connections from Dartford town centre, making this area a highly commutable, residential location.
The property is an early 15th century timber-framed building. Although the property is Grade II listed, it has been tastefully modernised. The ground floor of property falls within Class E usage and measures in the region of 164 m2 (GIA).
The property is situated in the heart of the town centre, along the pedestrianised high street, a busy retail district housing a number of multi-national retailers as well as The Priory Shopping Centre, theatre and park.
The town is easily accessed from the nearby M2/A2 and M25 motorways and benefits from rail connections from Dartford town centre, making this area a highly commutable, residential location.
The property is an early 15th century timber-framed building. Although the property is Grade II listed, it has been tastefully modernised. The ground floor of property falls within Class E usage and measures in the region of 164 m2 (GIA).
Property
GROUND FLOOR:
- RETAIL AREA: With bay window shop frontage to high street. Measuring in the region of 70m²
- OFFICE: Approximately 8.1m²
- STORAGE: Approximately 18.8m2²
- REAR STORAGE: With access corridor and kitchenette. Measuring 44.4m²
- TOILET: Approximately 3.3m²
BASEMENT
- CELLAR: Measuring 20.1m²
UPPER FLOORS
- Flat One: Two bedroom flat.
- Flat Two: Two bedroom flat.
EXTERNAL
- CAR PARK
- RETAIL AREA: With bay window shop frontage to high street. Measuring in the region of 70m²
- OFFICE: Approximately 8.1m²
- STORAGE: Approximately 18.8m2²
- REAR STORAGE: With access corridor and kitchenette. Measuring 44.4m²
- TOILET: Approximately 3.3m²
BASEMENT
- CELLAR: Measuring 20.1m²
UPPER FLOORS
- Flat One: Two bedroom flat.
- Flat Two: Two bedroom flat.
EXTERNAL
- CAR PARK
The Business
The retail area is let to and operated by the tenants in occupation as a charity shop.
** THE BUSINESS IS UNAFFECTED BY THE SALE **
No trade is sold or warranted. Trade accounts are under the ownership of the tenant and are not available for examination.
** THE BUSINESS IS UNAFFECTED BY THE SALE **
No trade is sold or warranted. Trade accounts are under the ownership of the tenant and are not available for examination.
Tenure
FREEHOLD £295,000 (Net Yield 7.3%).
The property is sold subject to the following leases:
Retail unit: Let on a 999 lease beginning on and including 10th January 2020 and ending on and including 9th January 3019, on a peppercorn rent, to a subsidiary of the freeholder. Then sublet on a part repairing and insuring lease agreement for a term of 10 years commencing 9th January 2020. The lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent is £21,400 per annum paid quarterly in advance.
Flat One: Let on a 999 lease beginning on and including 1 January 2019 and ending on and including 9th January 3019, on a peppercorn rent. Includes use of one parking space.
Flat Two: Let on a 999 lease beginning on and including 1 January 2019 and ending on and including 9th January 3019, on a peppercorn rent. Includes use of one parking space.
The seller charges a service charge, proportioned as follows.
Retail Unit: 25.01%
Flat One: 24.45%
Flat Two: 16.88%
House Three: 7.65% (Sold freehold. Not included in the sale)
House Four: 9.45% (Sold freehold. Not included in the sale)
House Five: 16.56% (Sold freehold. Not included in the sale)
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
The property is sold subject to the following leases:
Retail unit: Let on a 999 lease beginning on and including 10th January 2020 and ending on and including 9th January 3019, on a peppercorn rent, to a subsidiary of the freeholder. Then sublet on a part repairing and insuring lease agreement for a term of 10 years commencing 9th January 2020. The lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent is £21,400 per annum paid quarterly in advance.
Flat One: Let on a 999 lease beginning on and including 1 January 2019 and ending on and including 9th January 3019, on a peppercorn rent. Includes use of one parking space.
Flat Two: Let on a 999 lease beginning on and including 1 January 2019 and ending on and including 9th January 3019, on a peppercorn rent. Includes use of one parking space.
The seller charges a service charge, proportioned as follows.
Retail Unit: 25.01%
Flat One: 24.45%
Flat Two: 16.88%
House Three: 7.65% (Sold freehold. Not included in the sale)
House Four: 9.45% (Sold freehold. Not included in the sale)
House Five: 16.56% (Sold freehold. Not included in the sale)
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Services
All mains services are connected.
Local Authority: Dartford Council
Rateable value: £20,500
Local Authority: Dartford Council
Rateable value: £20,500
Enquire about this listing
Robert Cockayne
South East & London
