FOR SALE - Retail Investment with Upper Floor’s with Prior Approval for Residential Conversion

10 Middle Row, Maidstone, Kent, ME14 1TG

www.sibleypares.co.uk 01622 673086 [email protected]

10 Middle Row, Maidstone, Kent, ME14 1TG

Description FOR SALE - Ground floor retail investment with separately accessed first, second and third floor offices benefiting from permitted development rights for the conversion to 5 residential flats

Location The property is located on Middle Row in the town centre of Maidstone, the county town of Kent. It is located within a one minute walk of Fremlin Walk, the premier shopping destination within Maidstone, and is therefore close to local

amenities.

Maidstone has good communications with access to the motorway network via junctions 5, 6 & 7 of the M20, and also benefits from 2 mainline stations that provide regular services to both London Victoria, and high speed services to London St Pancras International via Strood. The property is close to the central bus stops with a variety of bus routes servicing it.

 Retail Investment

 Vacant upper floor offices with permitted development rights for the conversion to 5 residential flats

 Planning Ref: 19/502501/PNOCLA

 Planning Link: https://cloudstation.jjsystems.org:5001/sharing/zTpSEFNEC

 Rental Income of £24,000 per annum

 Town Centre Location

 Offers in the region of £725,000

10 Middle Row, Maidstone, Kent, ME14 1TG

Proposed First Floor Floorplan Proposed Second Floor Floorplan Proposed Third Floor Floorplan

10 Middle Row, Maidstone, Kent, ME14 1TG

Terms Accommodation Rateable Value The property comprises a ground floor retail To purchase the freehold of the property. Shop and Premises: RV £19,250 @ 49.1p in the £

shop with lower ground floor. The upper floors In accordance with Money Laundering Regulations, we Rates payable £9,451.75 for the year 2017/18 separately accessed are currently vacant offices are now required to obtain proof of identification for and are laid out to suit conversion. purchasers. Offices: RV £15,250 @ 49.1p in the £ Rates payable £7,487.75 for the year 2017/18 Ground Floor Tenancy Details Retail Area 659 sq ft (61.20 sq m) Offers in the region of £725,000 Ground Floor Retail Unit is let to Blow Garden Ltd on a 5

Lower Ground Floor: year full repairing & insuring lease, outside the L&T Act Services Office 163 sq ft (15.14 sq m) (1954) from 10/5/2018 at a passing rent of £24,000 per Mains water & drainage, electricity Stores 213 sq ft (19.77 sq m) annum. Kitchen 132 sq ft (12.25 sq m) Legal Costs First, second and third floor offices are currently vacant. Each side to bear its own legal and professional costs First, Second & Third Floor Offices Planning EPC Floor 1 1,069 sq ft (99.31 sq m) The first, second and third floor offices have prior Awaited Floor 2 1,088 sq ft (101.08 sq m) approval for the conversion to 5 residential flats, as Floor 3 1,094 sq ft (101.64 sq m) Viewing/Enquiries shown in below schedule. Strictly by prior appointment through the Surveyors. Total GIA 3,251 sq ft (302.03 sq m) *NB Measurements taken from to scale plans Floor Type Sq m Sq ft Please contact Flat A 1 1 Bed 51.77 557 Flat B 2 1 bed 51.89 559 Phil Hubbard e: [email protected] Matt Sadler e: [email protected] Flat C 2 Studio 37.16 400 Flat D 3 1 bed 52.26 563

Flat B 3 Studio 38.01 409 Total 231.09 2,487

VAT All figures are exclusive of VAT which will be charged at the prevailing rate

NOTE: Rental, prices or any other charges are inclusive of VAT unless otherwise stated. MISREPRESENTATION ACT 1967. These particulars are believed to correct, their accuracy cannot be guaranteed and are expressly excluded from any other contract. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. No fittings, appliances or services mentioned have been tested by Sibley Pares 1 Ashford Road, Maidstone, Kent, ME14 5BJ Maidstone (01622) 673086 Ashford (01233) 629281 Partners: Sarah Raggett, BSc (Hons) MRICS Phillip Hubbard, BA (Hons) MRICS Mark Presland, BSc MA MRICS Consultants: David Pares, MRICS Brian Matthews, MRICS CBuildE MCABE Sibley Pares Chartered Surveyors is a trading name of Sibley Pares LLP Registered in England and Wales No: OC400776. Registered office as above. VAT Reg No: 218 5130 30.