Sale and Leaseback/Nomination Rights Investment Opportunity On behalf of
Staff Accommodation, 32 High Street, Pembury, Tunbridge Wells, Kent, TN2 4NT
Location Pembury is a large village located next to Royal Tunbridge Wells, an affluent town situated in western Kent, which benefits from excellent transport links to both London and the continent.
High Brooms is the nearest mainline rail station, just under 3 miles to the West, providing a number of regular services into the central London stations of Charing Cross, and Cannon Street, and to Hastings at the South Coast. Connections are available at Tonbridge providing journeys across Kent. Other nearby stations include Tunbridge Wells, Paddock Wood and Tonbridge. Tunbridge Wells station provides direct mainline rail services to London Charing Cross (via Waterloo East and London Bridge) with an approximate journey time of 55 minutes.
Pembury has access to excellent bus services operated by Arriva Kent & Sussex, providing local town and rural services to Tonbridge, Paddock Wood and Sevenoaks, as well as express services to locations such as Bromley and Maidstone. Places on the South Coast, such as Brighton and Eastbourne are also accessible services run by Stagecoach while a Metrobus offers hourly services to Crawley.
The A21 can be accessed from Tunbridge Wells, linking to the M25 and thereby the national motorway network, Gatwick and Heathrow airports and the Channel Tunnel terminus.
There are many highly-regarded schools in the area including Rose Hill, The Mead, and Holmewood House preparatory, Beechwood Sacred Heart for ages 3 to 18; girls' and boys' grammar schools Tunbridge Wells and Tonbridge; independent secondary schools in Pembury, Tonbridge, Sevenoaks, Eastbourne, Brighton and Mayfield. The site is also located within very close proximity (0.7 miles) to Pembury Hospital.
Fig 1. Site Location Plans
Description The building sits on a site of approximately 0.8 acres (3181sqm) accessed through a private entrance from The Paddock. The site is bounded to the North by existing properties on The Paddock, and to the West by properties on Pembury High Street. The building itself occupies a High Street frontage, and is surrounded by an area of private amenity space with sporadic landscaping and parking provision for several cars.
Although the building footprint remained largely the same, the site was refurbished in 2011, and saw a change of use from 24 flats (C3) to accommodation for junior doctors and nurses (Sui Generis). Details of this can be found on the Tunbridge Wells Borough Council website under the reference 11/01853/FUL. The current building now comprises of a forty bed facility which provides housing specifically for junior/trainee medical staff and student nurses undertaking post graduate training at Pembury Hospital or Maidstone Hospitals.
The building is owned by Maidstone and Tunbridge Wells Hospital Trust and is used for staff accommodation. The Trust want to remain in the building for the continuation of the Pembury Hospital PFI which has 25 years to run.
Existing Accommodation
Tenure The site is being offered as a freehold sale and leaseback or nomination rights opportunity. Offers are sought on the basis of the following lease terms being entered into:
Planning Details of the existing planning permission can be found on the Tunbridge Wells Borough Council website under the reference 11/01853/FUL. This comprises a forty bed facility which provides housing specifically for junior/trainee medical staff and student nurses undertaking post graduate training at Tunbridge Wells or Maidstone Hospitals.
Method of Disposal Freehold sale based on the sale and leaseback or nomination rights of the complete building comprising 40 staff accommodation units.
Terms A deadline for offers has been set as 8th October 2018 and therefore interested parties are advised to contact Jack Anderson ([email protected]) on 020 8309 7777 for further infor- mation in this regard.
Services We understand that the property benefits from connections to all mains services, although prospective purchasers should satisfy themselves in this regard.
VAT VAT will not be payable on the purchase.
Legal Costs Each party is to bear their own legal costs incurred in the transaction.
Viewings The site can be inspected from the road side. Any on site inspections are by appointment only with Frankham Projects on 020 8309 7777.