Acquired
Tonbridge – Post Office
13 Quarry Hill Road, Tonbridge, Kent TN9 2SPVirtual Freehold Retail Investment
Tenure
Leasehold
Lease Term
20 Years
Years Left on Lease
18y 8m
Area
1,550 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises double fronted ground floor shop with ancillary at basement
- Let to a Post Office operator on a new lease until 2043. Rent reviews every 5 years.
- Located within 100 meters of Tonbridge Station with occupiers nearby including Lidl and more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises double fronted ground floor shop with ancillary accommodation at basement, providing the following accommodation and dimensions:
No. 13 Quarry Hill Road
Ground Floor: Open plan retail, Kitchenette
Basement: Ancillary, Storage
Total area: 144 sq m (1,550 sq ft)
No. 13 Quarry Hill Road
Ground Floor: Open plan retail, Kitchenette
Basement: Ancillary, Storage
Total area: 144 sq m (1,550 sq ft)
Tenancy Description
The property is let to SWASAM Ltd with two personal guarantors t/a Post Office for a term of 20 Years from 14th November 2023 at a current rent of £22,250 p.a. and the lease contains full repairing and insuring covenants. Rent reviews every fifth year. Tenant option to determine on 14.11.38 with min 6 months notice. Deposit held of £5,562.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Tonbridge is a thriving market town with a resident population of approximately 40,000. The town offers an excellent range of retail and leisure facilities with many High Street stores, banks and building societies, together with a selection of coffee shops, restaurants and local pubs. It boasts a fine example of a 'Motte and Bailey' castle built in the 13th century, set on the banks of the river Medway. The property is situated on the Western side of Quarry Hill Road at the southern end of the town within 100m of Tonbridge Station. Nearby commercial occupiers Lidl, McColls and a range of local occupiers and retailers.
