investment opportunity with residential uppers · 4/9/2020 · for sale - former public house...
TRANSCRIPT
The Red Lion, 1 Frindsbury Road, Rochester, Kent
www.sibleypares.co.uk 01622 673086 [email protected]
Investment Opportunity with Residential Uppers
The Red Lion, 1 Frindsbury Road, Rochester, Kent
Description FOR SALE - Former Public House Investment with Residential Uppers
There is potential for further development subject to gaining the
necessary consents, the ground floor benefits from historic planning
permission for 2 further 2 bedroom flats.
Location The property is a former Public House that has been converted into a
convenience store. It is located on the junction of the A228 with Cliff
Road benefiting from return frontage. The property is in a
predominantly residential area, it benefits from good
communications, with junction 1 of the M2 within a 15 minute drive
and being within walking distance of Strood Train Station, which is a
high speed location servicing London St Pancras in approximately 35
minutes.
Return Frontage
Prominent Location
Mixed Use Investment
Self-Contained First
Floor 2-bedroom flat
Offers in excess of
£325,000 for the
freehold
The Red Lion, 1 Frindsbury Road, Rochester, Kent
Accommodation The property currently comprises a convenience store on the ground floor, and a spacious self contained 2
bedroom residential flat on the first floor.
Commercial
Retail Area: 894 sq ft 83.05 sq m
Ancillary Storage: 214 sq ft 19.91 sq m
Kitchen: 44 sq ft 4.11 sq m
WC
Lease Terms
Commercial: 20 year lease from 1/12/2011 (13 years unexpired), current passing rent £12,000 pa with 2 yearly
upwards only rent reviews with next review on 1/12/2019
Residential: Currently let on an AST at £9,300 pa
Total Annual Income: £21,300 pa
Asking price reflects a NIY of 6.2% taking purchasers cost @ 5.8%
1 Ashford Road, Maidstone, Kent, ME14 5BJ
Maidstone (01622) 673086 Ashford (01233) 629281 Partners: Sarah Raggett, BSc (Hons) MRICS Phillip Hubbard, BA (Hons) MRICS Mark Presland, BSc MA MRICS
Consultants: David Pares, MRICS Brian Matthews, MRICS CBuildE MCABE
Sibley Pares Chartered Surveyors is a trading name of Sibley Pares LLP Registered in England and Wales No: OC400776. Registered office as above. VAT Reg No: 218 5130 30.
NOTE: Rental, prices or any other charges are inclusive of VAT unless otherwise stated.
MISREPRESENTATION ACT 1967. These particulars are believed to correct, their accuracy cannot be guaranteed and are expressly excluded from any other contract. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in
these particulars. No fittings, appliances or services mentioned have been tested by Sibley Pares
Terms
In accordance with Money Laundering Regulations, we are
now required to obtain proof of identification for purchasers.
Rateable Value
RV £12,500 @ 48.0p in the £
Rates payable £6,000 for the year 2018/19
Offers in excess of £325,000
Services
Mains Water, Electricity, Gas
VAT
All figures are exclusive of VAT which will be charged at the
prevailing rate.
Legal Costs
Each side to bear its own legal and professional costs
EPC
Commerical: Awaited
Residential: E (45)
Viewing/Enquiries
Strictly by prior appointment through the Surveyors. Please
contact
Phil Hubbard e: [email protected] or
Matt Sadler e: [email protected]
Residential
GIA: 957 sq ft 88.91 sq m
Planning Information
Historic consent for conversion of ground floor for
2 Two-Bedroom flats Reference no. MC/10/0681