Kent - High Street Retail Investment (net Yield 7.3%)
Guide Price
£295,000
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
- USE CLASSUse class orders: A1 Shops
A1
Key features
- Prominent position on Dartford High Street
- Well-presented Grade II listed property
- Ground floor retail unit (164 m² GIA)
- Let on a 10 year FRI lease with 5 years remaining
- Rental income of £23,000 per annum
- Includes car park and two flats let on 999 year leases
Description
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).
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
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.
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 £23,000 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.
All mains services are connected.
Local Authority: Dartford Council
Rateable value: £20,500
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).
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
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.
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 £23,000 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.
All mains services are connected.
Local Authority: Dartford Council
Rateable value: £20,500
Kent - High Street Retail Investment (net Yield 7.3%)
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Dartford Station0.2 miles
- Crayford Station1.8 miles
- Stone Crossing Station2.0 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference 95622. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Sidney Phillips Limited, South East. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.