01892 552 500 01892 552 500Location
Royal Tunbridge Wells is an affluent spa town situated in North West Kent, approximately 40 miles south east of central London.
Lonsdale Gardens is a private road on the Belvedere Estate, in a central position, directly off Mount Pleasant Road, with access to the town`s mainline station being within 250 metres.
Lonsdale Gardens comprises predominately period office buildings. Clanricarde Gardens to the north has a mix of residential and office uses. There is a current trend for conversion from office use to residential.
Description
A tenanted office building, arranged over ground and two upper floors, via a central staircase, along with a small basement archive room. Currently there are tarmac parking area, to the front and rear of the property. The principal tenant has a seperate license arrangement with no.8, the adjoining property, to cross their car park and access the rear parking area.
The property retains numerous period features.
The property has potential for conversion to residential, either for apartments or a single house – subject to the usual local authority consents.
Floor Areas
Ground –
Offices – 915 sq ft
Stores – 15 sq ft
(there is a basement store room below this are access via a hatch and steps – we have not measured this area).
Rear extension – Store – 150 sq ft – (leased to TSP)
First –
Offices – 841 sq ft
Stores & Kitchen – 152 sq ft
Second –
Offices – 864 sq ft
Stores – 220 sq ft
Total – 3022 sq ft (280.6 sq m) – net internal area
4302 sq ft (399.7 sq m) – gross internal area
Tenure
Freehold – subject to the occupational tenancies described below.
Occupational Leases
The large majority of the property is leased to a firm of accountants.
The ground floor rear extension archive store is to be leased to Thomson Snell & Passmore, a firm of solicitors, on coterminous terms to the principle lease. The rent is to be £750 per annum, exclusive of all other outgoings.
The salient lease terms of the principal lease are as follows:
Tenant – Wells Professional Partnership LLP
Term – 10 years from 28th November 2013
Rent – £36,000 per annum, exclusive of all other outgoings.
Rent Review – 28th November 2018 – on an “upward only” basis.
Repairs & Maintenance – Tenant responsible to keep the building in good and tenantable repair and condition. This obligation is subject to a Schedule of Condition.
Insurance – Landlord to insure, and recover premium from the tenant.
Break Clause – The tenant has the ability to determine the lease on 28th November 2018, on providing a minimum of 6 months’ notice.
Alienation – The tenant has the ability to assign or under let the whole of the premises, only, subject to landlord`s consent. With an assignment the tenant is to enter into an Authorized Guarantee Agreement.
Pre-Emption Right to Purchase – The tenant has the ability to purchase the property, within 3 months, at the agreed sale price.
Guide Price
£800,000
Terms
The sale is subject to the pre-emption clause within the occupational lease.
Viewings
The property is occupied so therefore all viewings are to be strictly by appointment, and accompanied through the sole agent`s offices –
Legal Costs
Each party to be ultimately responsible for their own legal costs.
An undertaking will be required for the vendor`s abortive legal costs should the proposed purchase withdraw from the transaction.
Important Notes:
