Mill Court Oast, 81 Mill Street, East Malling, West Malling, Kent, ME19 6BU

Description

FREEHOLD OFFICE INVESTMENT -- FOR SALE -- Attractive converted Oast building within semi-rural location with generous car parking, but benefitting from excellent connectivity with junction 4 of the M20 within easy reach and East Malling Station within 5 minutes walk which has services to London Victoria in less than 1 hour.

The offices offer two separate self-contained suites which are let out to two separate tenants, currently producing £77,235 per annum reflecting an ARY of 8.58%.

The Ground Floor Offices (Unit 1) are currently let on a 6 year lease expiring August 2026 producing income of £32,235 per annum.

The First Floor Offices (Unit 2) have been converted to a Yoga Studio and have been refurbished to a high standard to create open plan studio accommodation with newly installed wcs and kitchen. In addition there is reception area and meeting rooms / offices within the roundels. The first floor is let on a 6 year lease, expiring 11th April 2029 at a rent of £45,000 per annum.

The entire property benefits from 19 car parking spaces.

Office Investment For Sale

Producing £77,235 per annum

Semi-rural but accessible location

£900,000 reflecting a 8.58% ARY

Attractive Oast conversion

Picturesque setting on the Mill Pond

5 Minutes walk from East Malling station

Location

The property is located in the village of East Malling just 1.2 miles East of the popular town of West Malling which offers a variety of local and national retail shops, restaurants and bars. Situated opposite the Grade II Listed former Wier Mill it is a quaint setting within the village, the office building is surrounded by residential dwellings within close proximity to the King and Queen pub by East Malling Church. It is well located for transportation connectivity with J4 of the M20 motorway being 2.8 miles away. East Malling train station is 0.4 miles (5 minute walk) from the property offering hourly services to London and West Malling station is only 1.1 miles from the property offering more regular services to London in less than 1 hour.

What3Words Location -

Drive Time
Maidstone 7.2 Miles 15 Mins
West Malling 1.3 Miles 4 Mins
Dartford Crossing - M25 J1a 22.0 Miles 27 Mins

Accommodation

The property comprises an attached former Oast House configured as offices over two floors. The property has been split and provides two self-contained suites.

The ground floor has the main reception in one of the roundels leading through to the main office area which is primarily open plan plus separate meeting room, toilets and kitchenette.

The first floor is accessed via a ground floor reception providing access to the stairwell leading upstairs which has been converted to a Yoga Studio and have been refurbished to a high standard to create open plan studio accommodation with newly installed wcs and kitchen. In addition there is reception area and meeting rooms / offices within the roundels.

The existing accommodation is comprised as follows, measured on a Net Internal Area Basis:

Ground Floor
Offices - 138.88 sq m = 1,495 sq ft
Kitchen - 3.71 sq m = 40 sq ft
Including 8 Car Parking Spaces

First Floor
GF Reception - 20.35 sq m = 219 sq ft
Offices - 176.24 sq m = 1,897 sq ft
Kitchen - 4.55 sq m = 49 sq ft
Including 11 Car Parking Spaces

Externally there are allocated car parking areas immediately adjacent to the office building.

Terms

To purchase the Freehold subject to the occupational tenancies.

Investment Summary

The Ground Floor Offices (Unit 1) are let to HML PM Ltd who currently occupy the ground floor on a 6 year lease expiring 13th August 2026 at a passing rent of £32,235 per annum.

The First Floor Offices (Unit 2) is let to Athlin Limited on a 6 year lease, expiring 11th April 2029 at a rent of £45,000 per annum.

Further details are available upon request.

Rent/Price

Offers in the Region of £900,000.


Viewing

Strictly by prior appointment through the Surveyors. Please contact Phil Hubbard e: phil. or Dominic Barber e: dominic.

Rateable Value / Council Tax

The Business Rates are assessed separately as follows:

Ground Floor RV £21,250 @ 49.9p in the £
Rates payable £10,603.75 for the year 2024/25

First Floor RV £26,000 @ 49.9p in the £
Rates payable £12,974.00for the year 2024/25

Car Park RV £1,800 @ 49.9p in the £
Rates payable £898.20.00for the year 2024/25

VAT

We understand from our client that the property is not elected for Value Added Tax (VAT). Prospective occupiers should satisfy themselves independently as to any VAT payable in respect of any transaction.

EPC

Rating (D) 97