Crowborough, East Sussex

Single let Income producing investment

Privately held Freehold

Opportunity to secure occupancy on longer term lease

Subject to planning - redevelopment opportunity due to plot size

A SINGLE LET FREEHOLD COMMERCIAL INVESTMENT PROPERTY WITH RESIDENTIAL UPPER PARTS AND A REAR STORE / WORKSHOP

LOCATION
The property is situated circa 1.5 miles from the town centre in a diverse commercial/residential area, close to Crowborough & Jarvis Brook railway station with services to Uckfield and London Bridge/Victoria via East Croydon & Clapham Junction. Tunbridge Wells is about 7 miles, East Grinstead about 13 miles and Uckfield about 9 miles. The town centre includes such retailers as Morrisons, Waitrose and Lidl

DESCRIPTION
Redwood comprises a single let commercial premises on the gound floor with a separately accessed rear yard and secure store/workshop. Included in the tenancy is a first floor 2 bedroom flat accessed internally but with the posiibility to create a seperate entrance. The current tenant occupies both the commercial and residential elements and has been in occupation for the past circa 10 years.

Redwood is of traditional brick construction with modern tiled pitched roof. The property also benefits from its own dedicated side access.

ASSET MANAGEMENT
Opportunity to increase the rents to ERV and to secure rent on longer term leases. This could increase short term income from £21,600 per annum to in excess of £25,000 per annum.

BUSINESS RATEABLE VALUES: 1 April 2023 to present

Current rateable value at £8,100

Small Business rate relief is applicable for these properties with rateable values below £15,000.

COUNCIL TAX
The residential flat is currently in Council Tax Band ‘B’.

Business and Council tax rates payable are generated via Wealden District Council.

The rents are not subject to VAT

The property is currently let on two short term annual licences to TLC Furniture and TLC Events at £900 per month.

TENURE
The freehold is held under the following number:-
ESX241880

TERMS
Offers are invited in the region of £425,000 for the freehold asset, subject to the existing income, subject to contract and exclusive of VAT.

VIEWING
For viewing and further information please contact the joint selling agents RH & RW Clutton
RH & RW Clutton East Grinstead Office -