Property Summary

160-162 London Road comprises of a two storey Victorian property, situated on a prominent corner position in Southborough. London Road is currently arranged as a commercial retail unit on the ground floor, with residential on the first floor and garaging/storage area to the rear and side of the property. The property has planning permission for 7 x 1 bedroom and 2 x 2 bedroom apartments, with a commercial unit and retail unit on the ground floor with storage and staff rooms.

Situation The property is situated on the corner of London Road and Speldhurst Road. London Road offers an array of independent traders. There is also larger commercial users close by including Tesco Express. Southborough lies immediately North of Tunbridge Wells on the A26.

Planning The planning consent provides for 7 x 1 bedroom apartments and 2 x 2 bedroom apartments with a total area of approximately 505 sq m. On the ground floor is a commercial unit measuring at approximately 23 sq m and a second retail unit at approximately 112 sq m, with storage and staff rooms at a total of 250 sqm. Planning was approved on the 9th November 2021 under planning application number 2103127/FULL.

Rents The commercial unit is let to on a commercial lease from the 14th September 2007, until the 13th September 2020, the tenant is holding over. We understand the current rent is £20,000 per annum.

lot type

Redevelopment

private treaty - sale status

Under offer

offers invited

Offers Invited

type

On the instructions of the Law of Property Act Receivers
Mixed commercial/residential investment with planning permission for re-development

description

160-162 London Road comprises of a two storey Victorian property, situated on a prominent corner position in Southborough. London Road is currently arranged as a commercial retail unit on the ground floor, with residential on the first floor and garaging/storage area to the rear and side of the property. The property has planning permission for 7 x 1 bedroom and 2 x 2 bedroom apartments, with a commercial unit and retail unit on the ground floor with storage and staff rooms.

Situation The property is situated on the corner of London Road and Speldhurst Road. London Road offers an array of independent traders. There is also larger commercial users close by including Tesco Express. Southborough lies immediately North of Tunbridge Wells on the A26.

Planning The planning consent provides for 7 x 1 bedroom apartments and 2 x 2 bedroom apartments with a total area of approximately 505 sq m. On the ground floor is a commercial unit measuring at approximately 23 sq m and a second retail unit at approximately 112 sq m, with storage and staff rooms at a total of 250 sqm. Planning was approved on the 9th November 2021 under planning application number 2103127/FULL.

Rents The commercial unit is let to on a commercial lease from the 14th September 2007, until the 13th September 2020, the tenant is holding over. We understand the current rent is £20,000 per annum.