FREEHOLD INVESTMENT - A character detached freehold property offering commercial investment opportunity with 2 ground floor retail outlets set in a prominent position on Cinque Ports Street within Ancient Cinque Port town of Rye.
• Entrance hall
• Downstairs Cloakroom WC
• Garage
• Open Plan Living / Dining Room
• Kitchen
• 2 Double Bedrooms
• Family Bathroom
• Gas Central Heating
• Double Glazing
• Paved and Gravel West Facing Garden
• Off Street Parking Space
• Quiet Location
• Easy Access to Town Centre
Description: 27 Cinque Ports Street is a detached converted former warehouse building that was originally used for storing fishing nets, and then became an outlet for Gassons, who traded marquees, tents, tarpaulins, ropes and garden and sports nets. The property was converted in the mid 1980’s now comprises of 2 ground floor retail units, and 3 self-contained leasehold flats arranged over the first and second floors of the building.
The building we understand dates back to the late Victorian era and is of brick construction, with timber casement style windows beneath a pitched slate tiled roof. The property is situated on Cinque Ports Street within the Rye Conservation Area with the rear of the premises backing onto the old town wall.
The property is accessed at the front of the building via 2 central recessed glazed entrance doors providing access into 2 commercial units (27a and 27b Cinque Ports Street) that both have large glazed front windows. The current tenant of both units(McCully and Crane - art and interior design retailers) have taken down part of the dividing wall at the rear of the two units to open the two units into a single unit as an art and interior decoration shop.
Unit 27a measures 33.7 sq. m retail space with a rear kitchenette / store room 4.6 sq. m and two staff toilets providing a further 3 sq. m
Unit 27b measures 28.50 sq. m retail space with access to a rear kitchenette / storeroom 3.7m sq. m and a staff toilet 1.3 sq. m.
Each commercial unit currently pays £6,390 pa and are held on a 2 year lease that expire on 30th September 2027. Each commercial unit pays a 1/5 costs for property maintenance and building insurance.
There are three flats on the first and second floors which are accessed from a side paved path leading to external metal staircase accessing a communal entrance into a first floor small communal hallway off which is access to the respective flats all of which are held on leasehold titles as follows:
Flat 1 – held on lease ending on 13th July 2175
Flat 2 – held on lease ending on 13th July 2174
Flat 3 - held on lease ending on 25th June 2086
Each Flat pays a peppercorn ground rent and contributes 1/5 costs for property maintenance and building insurance.
Externally the property benefits from a paved side access area which provides access to the first floor flats as well as access to a rear ally path that runs along the rear of the property to an external WC.
Situation: 27 Cinque Ports Street is within walking distance of all the amenities of the Ancient Cinque Port town of Rye with its pretty cobbled streets and period buildings that offer shops, recreational and cultural facilities. The town has become a major arts centre with a range of galleries and craft shops as well as local festivals including Rye Arts Festival and Rye International Jazz and Blues Festival which are held annually along with a number of food festivals including Rye Bay Scallop Festival.
The spa town of Tunbridge Wells is approximately 25 miles distant offering further shopping and recreational facilities while closer are the market towns of Tenterden with its tree lined high street and Ashford with its large McArthur Glen designer outlet retail park. Leisure activities in the area include a local thriving tennis, sailing, and links golf clubs as well as opportunities for riding, kite surfing on the nearby Camber Sands Beach and walking in the surrounding countryside.
Schools: A number of highly regarded schools in the area include; Marlborough House Vinehall, Claremont, St Ronan’s, Buckswood, Benenden and Cranbrook. Rye offers state primary and secondary schools.
Travel and Transport: Rye train station, approximately 200m distant, offers direct links to the high-speed service from Ashford to London St.Pancras (37 minutes), and links to Eurostar trains. The M20 can be joined at Ashford via the A259 and A2070 with connections to the M25 and Dover Ferry Port.
General Information:
Services: Mains Water, Mains Drainage, Mains Gas, Mains Electricity.
Broadband Speeds: Up to 900 Mbps (source Uswitch)
Mobile Coverage: 4G on EE, Vodafone, Three and O2
Business Rateable Values – 27A Cinque Ports Street - £6,300
27B Cinque Ports Street - £5,600
EPC: 27a Cinque Ports Street - Band C
27b Cinque Ports Street – Band C
Local Authority: Rother District Council
Tenure: Freehold
Viewing: Strictly by appointment with agents – Anderson Hacking
