Home   \\   Price
£725,000

10, Middle Row, Maidstone, Kent, ME14 1TG

Full description

FOR SALE - Ground floor retail investment with first and second floor offices benefiting from permitted development rights for the conversion to 5 residential flats

Frontage
20 ft 9"

Retail Area


Office
Lower Ground Floor

Stores
Lower Ground Floor

Kitchen
Lower Ground Floor

Ladies and Gents WCs


Frontage
20 ft 9"

Retail Area


Retail Area ITZA


Ladies and Gents WCs


Frontage
20 ft 9"

Retail Area


Office
Lower Ground Floor

Stores
Lower Ground Floor

Kitchen
Lower Ground Floor

Ladies and Gents WCs


Retail Area ITZA

  • Retail Investment
  • Vacant upper floor offices with permitted development rights for the conversion to 5 residential flats
  • Rental Income of £24,000 per annum
  • Town Centre Location
  • Offers in the region of £725,000
  • Planning Ref: 19/502501/PNOCLA
  • Planning Link: https://cloudstation.jjsystems.org:5001/sharing/zTpSEFNEC

  • Location: The property is located on Middle Row in the town centre of Maidstone, the county town of Kent. It is located within a one minute walk of Fremlin Walk, the premier shopping destination within Maidstone, and is therefore close to local amenities. Maidstone has good communications with access to the motorway network via junctions 5, 6 & 7 of the M20, and also benefits from 2 mainline stations that provide regular services to both London Victoria, and high speed services to London St Pancras International via Strood. The property is close to the central bus stops with a variety of bus routes servicing it.
  • Accommodation: The property comprises a ground floor retail shop with lower ground floor. The upper floors separately accessed are currently vacant offices and are laid out to suit conversion. Ground Floor Retail Area 659 sq ft (61.20 sq m) Lower Ground Floor: Office 163 sq ft (15.14 sq m) Stores 213 sq ft (19.77 sq m) Kitchen 132 sq ft (12.25 sq m) First, Second & Third Floor Offices Floor 1 1,069 sq ft (99.31 sq m) Floor 2 1,088 sq ft (101.08 sq m) Floor 3 1,094 sq ft (101.64 sq m) Total GIA 3,251 sq ft (302.03 sq m) *NB Measurements taken from to scale plans
  • Terms: To purchase the freehold of the property. Tenancy Details Ground Floor Retail Unit is let to Blow Garden Ltd on a 5 year full repairing & insuring lease, outside the L&T Act (1954) from 10/5/2018 at a passing rent of £24,000 per annum. First, second and third floor offices are currently vacant. Planning The first, second and third floor offices have prior approval for the conversion to 5 residential flats, as shown in below schedule.
  • Rent: Offers in the region of £725,000
  • Viewing: Strictly by prior appointment through the Surveyors. Please contact Phil Hubbard e: phil.hubbard@sibleypares.co.uk or Matt Sadler e: matt.sadler@sibleypares.co.uk
  • Legal Costs: Each side to bear its own legal and professional costs
  • Rateable value / Council Tax: Shop and Premises: RV £19,250 @ 49.1p in the £ Rates payable £9,451.75 for the year 2017/18 Offices: RV £15,250 @ 49.1p in the £ Rates payable £7,487.75 for the year 2017/18
  • VAT: All figures are exclusive of VAT which will be charged at the prevailing rate
  • EPC: Awaited
  • Price: Mains water & drainage, electricity

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