Offers over
£385,000
(£137.21/sq. ft)
Property for sale31 Stone Street, Cranbrook, Kent TN17
2,806 sq. ft
About this property
Mixed Use Investment Opportunity
Ground Floor Occupied by bupa Dental Services paying £20,750 per annum (exc)
Modern and Well Presented Apartment to the Rear
Rear Flat on the Market for £1,250 per month (£15,000 per annum)
Initial Gross Yield of 5.43% | Potential Reversionary Yield of 9.32% Once Fully Let
The property is located in Cranbrook, a picturesque and affluent market town in in the Weald of Kent.
The property is situated on the southern side of Stone Street, an established trading position popular with boutiques, cafés and restaurants, being a short distance from the High Street.
Description
The property comprises a period Grade II listed mixed use property arranged over basement, ground and two upper floors.
We understand it to have a timber frame, with a mix of brick and mathematical tile elevations beneath a pitched tiled roof, arranged as follows:
31 Stone Street:
Accessed from a dedicated entrance off of Stone Street, it comprises a commercial premises over ground and basement levels.
Currently trading as a Dental Clinic, it is arranged as a mix of open plan and cellular consultation rooms, offices and staff areas with basement stores.
It is finished to a high specification having a large glazed frontage, air conditioning (with comfort cooling) modern LED lighting and mix of laminate and vinyl flooring.
Flat 2,31 Stone Street:
Accessed from a private entrance to the rear, it comprises a modern two bedroom first floor apartment.
It is configured as an open kitchen/ living room off of which are two double bedrooms and a 'Jack and Jill' style family bathroom.
It is finished to a good modern specification having painted and plastered finish, a mix of modern LED spot and pendant lighting and vinyl flooring.
Listed building
The property is Grade II Listed (Entry No. 1336931).
Terms
The freehold interest (Title K254997) in the property is offered for sale on an unconditional basis subject to the existing tenancies.
Rent/Price
Our client is seeking offers from £385,000 reflecting a Gross Initial Yield of 5.43%, with a potential reversionary yield of 9.32%.
Please see the Marketing Particulars for a full breakdown of the occupational tenants and other lease terms.
In addition, a link to a Data Room containing pertinent property information can be provided. Please ask the agent for further information.
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£1,925 per month
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