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First Floor, 105 High St 880 SF Office Condo Unit Offered at $418,978 in Sevenoaks TN13 1UP
Investment Highlights
- Town Centre Investment
- Current Income £23,500 pax
- Affluent west-Kent market town
- Let to BNP Paribas R.A.P.M. UK Ltd.
- GIY - 7.5% approx.
Executive Summary
Sevenoaks is a highly affluent west-Kent market town. It is located approx. 21 miles south east of Central London, 12 miles north of Tunbridge Wells and 17 miles west of the County town of Maidstone. Road and rail connections are excellent with junction 5 of the M25 being approx 2.5 miles to the west and M20/M26 interchange is approx 9 miles east. Sevenoaks mainline station, which provides fast and frequent services to London Bridge, Waterloo East, Charing Cross & Cannon Street stations is approx 0.6 miles distant. The property itself sits in the very heart of the town centre and consequently all town centre services, including the main public car parks are nearby. Comprises the first floor of a traditionally built two-storey, mixed-use property, with brick facades under a crown roof. The ground floor is in retail use and the first floor is used as an office. The loft space has been converted to provide a two bedroom self-contained residential flat
Property Facts
| Total Building Size | 2,659 SF | Floors | 3 |
| Property Type | Retail (Condo) | Typical Floor Size | 908 SF |
| Property Subtype | Storefront Retail/Office | Year Built | 1987 |
| Building Class | B | Lot Size | 0.15 AC |
| Total Building Size | 2,659 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 908 SF |
| Year Built | 1987 |
| Lot Size | 0.15 AC |
Amenities
- Corner Lot
- Signage
- Storage Space
- Smoke Detector
1 Unit Available
Unit Office
| Unit Size | 880 SF | Sale Type | Investment |
| Price | $418,978 | Tenure | Long Leasehold |
| Price Per SF | $476.11 | Cap Rate | 7.46% |
| Condo Use | Office | NOI | $31,257.07 |
| Unit Size | 880 SF |
| Price | $418,978 |
| Price Per SF | $476.11 |
| Condo Use | Office |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 7.46% |
| NOI | $31,257.07 |
Description
The self-contained first floor office is generally open-plan but has been partitioned to create a reception area, an open-plan office area, a glazed
partitioned meeting room, a kitchen and male & female WCs. The office benefits from good levels of natural light, having windows to three elevations, comfort cooling, electric wall mounted heaters, 3 compartment perimeter trunking, carpeting and a video entryphone.
Sale Notes
Tenancy
The premises are let in their entirety to BNP Paribas Real Estate Advisory & Property Management UK Limited t/a Strutt & Parker, on an effective full repairing and insuring lease for a term of 5 years from 23rd January 2023, at a rent of £23,500 pax.
Tenure
The premises are held on a 125-year lease from 5th April 2006 at a ground rent of £125 per annum, doubling every 25 years.
Terms
Offers in excess of £315,000 are invited for the long leasehold interest, subject to the occupational lease to BNP Paribas, as detailed above. A purchase at £315,000 would show a gross initial yield of approx. 7.5%.
Legal Costs
Each party to pay their own costs.
Nearby Major Retailers
Presented by
First Floor, 105 High St
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