Tonbridge is a principal town in Northwest Kent, 35 miles southeast of London and located just to the east of the A21(T), approximately 3 miles to the northeast of Tunbridge Wells, 7 miles southeast of Sevenoaks and around 10 miles south of junction 5 of the M25. There is easy access to Gatwick Airport being 28 miles to the west, and Folkestone Eurotunnel 50 miles to the east.
Bridge House is situated towards the northern end of the High Street, just beyond the bridge over the River Medway, and opposite Tonbridge Castle. The building is in a prominent position on the corner of Lyons Crescent, which is now predominately residential with several recent new developments. There is a wide retail and leisure offering close by. At the southern end of the High Street, less than ½ mile distant, is the mainline train station providing a direct service to London stations, with a typical journey time of 40 minutes.
A purpose-built office building providing a single retail unit on the ground floor and undercroft parking to the rear. the 1st, 2nd and 3rd floors are currently arranged as 5 separate offices, with the first floor having access to an internal courtyard terrace. There is a flat roof area to the rear of the third-floor offices, offering potential for additional space.
We are of the opinion that the vacant offices could be updated and subdivided to create smaller office suites and thus improve their marketability.
The currently office availability and stock in Tonbidge is limited. Other offices that are currently being advertised (excluding serviced offices)are as follows (Source : EG Property Link – 02/22):
Otherwise, the upper floors have potential for a change of use to residential, and conversion to apartments, subject to all the necessary local authority consents.
Average new build price range in Tonbridge and Malling was between £410 – £525 (Q1 2021)
House price change in Tonbridge and Malling to end of June 2021 was 6.2%, with the average house price being £389,600
Source – Kent Property Market Report 2021
|Unit||Tenant||Lease (yrs.)||Sq. ft (Sq. m)||Rent (£)||Review||Break Clause||Rent Deposit||Service Charge||L&T Act 1954|
|Ground – Retail|
|Prayosha Enterprises Ltd – t/a Bites & Melts||15 – 15/12/2021||1750 (162.58)|
|20,000||15/12/2026 & 15/12/2031||15/12/2026 & 15/12/2031||Yes||Full||Outside|
|First – Front – Office||Vacant||–||1640 (152.36)||–||–||–||–||–|
|First – Rear – Office||Vacant||–||2650 (246.19)||–||–||–||–||–||–|
|Second – Front – Office||Argonaut Partnership LLP||4 – 08.03.2018||1566 (145.48)||25,000||–||–||Yes||Full|
(Schedule of Condition)
|Second – Rear – Office||Vacant||–||2667 (247.77)||–||–|
|Third – Office||Norman Bromley Partnership||6 – 21.06.2017||1684 (156.45)||27,000||21/06/2020||21/06/2020||No||Full||Outside|
ERV – (184,000)
Further information including lease documents; land registry plan and register; service charge budget; asbestos report; energy performance certificates; gas & electrical reports; and floor plans are available on request.
Freehold, subject to the occupational leases.
Our client is seeking offers in excess of £2.5 million. The purchase price will not be subject to VAT.
Durlings have the expertise and local knowledge to carry out commercial valuations. Durlings are also able to offer both landlords and tenants representation in rent review or lease renewal negotiations. Find out more
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Kent. TN1 1ED
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