0 BR in Kent Maidstone ME14 One BA
15a King St, Maidstone, Kent
Retail Investment in Maidstone Town Centre- Location:The property is located on King Street, Maidstone, the County Town of Kent adjacent to the Gateway and The Mall. King Street has a mixture of established retail and office occupiers and benefits from excellent prominence being adjacent to the Bus Station and The Mall rooftop car park.Maidstone is the County Town of Kent and the administrative headquarters of KCC. Maidstone offers excellent shopping facilities at Fremlin Walk and The Mall and a wide range of restaurants and entertainment venues. Its location to the motorway networks is 2nd to none with junctions 6 to 8 of the M20 easily accessible leading to the M25 and the Continent. Maidstone East offers rail services to London Victoria in under 1 hour.- Accommodation:Comprises retail area and 1st floor office space, ladies & gents WC's, kitchenette and car parking for up to 6 cars at the rear of the premises.Frontage 7.31 mDepth 16.05 mRetail Area 1,244 sq. feet 115.59 sq m1st Floor 1,126 sq. feet 104.48 sq mTotal 2,370 square feet 220.07 sq m- £585,000 for the freehold subject to the occupational tenancy showing a reversionary yield of 7.12%- Freehold Investment for Sale- Rateable value / Council Tax:RV £34,000 @ 48.0p in the £Rates payable £16,320 for the year 2018/19- Town Centre Location- Car Parking for up to 6 Cars- Rent:£585,000 for the freehold- Air-Conditioning- Terms:The property is currently let to Heart of Kent Hospice as summarised below:10yr lease from 21st October 2016 (8yrs unexpired) on a stepped rent basis as below:Initial 3yrs of term: £35,000 paYears 4,5,6: £37,100 paYears 7,8,9,10 : £41,685 paTenant Break 21st October 2021 with 6 mons notice.In addition four of the car parking spaces are currently let seperately for £2,400 pa.Reversionary Yield of 7.12% taking purchasers costs at 5.8%Heart of Kent Hospice, established in 1991, provides exceptional care for people facing the challenge of living with a terminal illness in Maidstone, Aylesford, Tonbridge, Malling and surrounding areas.- EPC:Rating D (86)- Price:- Legal Costs:Each side to bear its own legal and professional costs- VAT:We understand from our client that the property is not elected for VAT- Viewing:Strictly by prior appointment through the Surveyors. Please contact Phil Hubbard e: XXXX@sibleypares.co.uk or Matt Sadler e: XXXX@sibleypares.co.ukMains ElectricityAir-conditioning
104 sq. ft.
February 11 on Listanza