84-96 Mount Pleasant Rd 5,118 SF Retail Condo Unit Offered at $1,263,880 in Tunbridge Wells TN1 1RT
INVESTMENT HIGHLIGHTS
- The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation
- The property forms part of the Opera Colonnade which was constructed in 1902 in a symmetrical Neo-Georgian style with a Baroque centrepiece.
- Royal Tunbridge Wells is an attractive and affluent Kent spa town, situated c. 35 miles south east of London and 30 miles north east of Brighton
- The property is built of red brick with ashlar dressings, timber sash windows and topped with a feature copper dome
EXECUTIVE SUMMARY
The property forms part of the Opera Colonnade which was constructed in 1902 in a symmetrical Neo-Georgian style with a Baroque centrepiece. The property is built of red brick with ashlar dressings, timber sash windows and topped with a feature copper dome. It is Grade II listed and is situated in the Tunbridge Wells Conservation Area. The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation with self-contained access from Newton Road
PROPERTY FACTS
| Price | $1,263,880 |
| Unit Size | 5,118 SF |
| No. Units | 1 |
| Total Building Size | 28,795 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| Sale Type | Investment |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 5,759 SF |
| Year Built | 1878 |
| Lot Size | 0.85 AC |
AMENITIES
- Security System
- Signage
1 UNIT AVAILABLE
Unit 96
| Unit Size | 5,118 SF |
| Price | $1,263,880 |
| Price Per SF | $246.95 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 8.57% |
| NOI | $108,261.30 |
DESCRIPTION
The property comprises a ground floor restaurant/retail unit with basement storage/staff and vacant first and second floor ancillary accommodation with self-contained access from Newton Road
SALE NOTES
Freehold.
Offers are sought in the region of £950,000 (Nine Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 7.5% on the rental income after allowing for purchaser’s costs of 5.22% plus £160 psf on the self-contained first and second floors.
TUNBRIDGE WELLS - 96 Mount Pleasant Road FHrgg
NEARBY MAJOR RETAILERS
