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The Regent, The Broadway, Crowborough, East Sussex TN6 1DA

Location

Located in the centre of Crowborough close to the junction of the High Street with Croft Road.

There are a wide range of retail facilities on hand, and the property is a short walk to Waitrose Supermarket.

The closest main line train station is located at Jarvis Brook being 1.5 miles distant via Crowborough Hill.

Description

The building comprises, ground, basement, and 3 upper floors, together with a separate parking area for at least 20 cars. The upper floors comprise self-contained office / leisure space, totaling a gross internal area of approximately 10,398 sq ft (966 sq m).

The ground and basement level have the following areas:

Ground –               2,607 sq ft (242.2 sq m)

Basement –            1,508 sq ft (140.1 sq m)

*These areas have been taken for the VOA website and subject to verification.

The property has planning consent to convert the upper floors into 10 apartments under planning reference WD/2017/0323/MAJ.

Proposed Accommodation

Floor                       Unit no.                  Accommodation                  sq m       sq ft       

1^st                           1                            Studio                                   49.3         531

1^st                           2                            1 bedroom                           72.8         784

1^st                           3                            1 bedroom                           90.6         975

1^st                           4                            2 bedroom                           87.7         944

2^nd                          5                            Studio                                   49.3         531

2^nd                          6                            1 bedroom                           72.8         784

2^nd                          7                            1 bedroom                           90.6         975

2^nd                          8                            2 bedroom                           87.7         944

3^rd                          9                            2 bedroom                           76.2         820 (above 1.5m height)

3^rd                          10                           3 bedroom                           113.0       1216 (above 1.5m height)

790          8504 (GIA)

Full plans available on request.

Planning Contributions

There is a Community Infrastructure Levy (CIL) obligation with a SANGS and/or SAMMS payment, in relation to the protection of the Ashdown Forest, which requires a combined payment of £152,861.54 as a condition of the planning consent.

Further details available on request.

Occupational Lease

The ground and basement are occupied by Lloyds Bank Plc on a full repairing and insuring basis, for a term of 10 years from 24^th June 2015. The current rent is £37,000 per annum, exclusive of all other outgoings. There is a rent review due on the 24^th June 2020.

There was a Deed of Variation entered into on the 31^st May 2018, removing a break clause in lieu of a rent free period till 24^th December 2018.

The lease and Deed of Variation are available on request.

 Price

Offers are being sought in excess of £1,550,000 for the freehold interest, subject to the occupational lease.

Alternatively consideration will be given to a sale of the upper parts & car park, only, with offers in excess of £975,000 being sought.

The purchase price will not attract VAT.

Tenure

Our clients own the freehold interest.

Further Details

Contact Rupert Cochrane – 01892 552500 / rupert.cochrane@durlings.co.uk

22 Mount Ephraim Road, Tunbridge Wells, Kent TN1 1ED   www.durlings.co.uk

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