FREEHOLD FOR SALE - Amazon S3€¦ · Lonsdale Gate is well situated in the aﬄuent town of Tunbridge wells just a few minutes drive from the A26 Mount Pleasant Road. The premises

FREEHOLD FOR SALE

Tunbridge WellsFREEHOLD OFFICE BUILDING AND

POTENTIAL DEVELOPMENT SITE

9,600 Sq FT (891.87 Sq M) NIA

wITH SUBSTANTIAL CAR PARk

TOTAL SITE AREA 0.42 ACRES

Lonsdale Gate, Lonsdale GardensTunbridge Wells TN1 1NX

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Leatherhead 01372 360190 - Farnborough 01252 816061 - Woking 01483 723344 - Guildford 01483 388800 - Redhill 01737 852222

AGENCy • INVESTMENT • DEVELOPMENT • ASSET MANAGEMENT • LANDLORD & TENANT

Lonsdale Gate, Lonsdale Gardens, Tunbridge wells TN1 1NX

Opportunity Highlights• Self-contained office building totalling 9,600 sq ft approx. NIA

• Permitted Development change of use to residential granted

• Site area approximately 0.42 acres (0.169 hectares)

• 38 on-site parking spaces

• Income on the site at until a maximum of Dec 2019 at £140,220 pax (£14.60 psf) rising to £216,000 pax (£22.50 psf) from March 2019

• Rear of the car park potentially suitable for residential development(subject to securing the necessary planning consents)

• Positive pre-application meeting held with Tunbridge Wells BoroughCouncil for 9 flats on rear car park

• Excellent access to town centre amenities and adjacent to station

• Seeking offers in excess of £4.20m subject to contract and excluding VAT

Location

Lonsdale Gate is well situated in the affluent town of Tunbridge wells just a few minutes drivefrom the A26 Mount Pleasant Road. The premises are adjacent to Tunbridge wells mainlinerailway station which provide a regular service into central London (London Bridge – 46 mins,London waterloo – 51 mins). Lonsdale Gardens is a private road which contains a mixture ofoffices and residential properties. On street parking is available for the use of the occupiersand is regulated via a private security company.

Just a few minutes walk are numerous town centre amenities including shops, leisure facilitiesand restaurants, with the main town centre and Pantiles www.thepantiles.com being only 10minutes walk away.

Description

The property comprises an office building arranged over ground and three upper floors with38 car parking spaces to the rear of the property. we understand that the building wasconstructed in the late 1980’s and is of concrete frame construction with brick elevationsunder a pitched tiled roof. Amenities include:

• Suspended ceilings with category 2 lighting

• Raised access floors

• Gas fired central heating

• 6 person passenger lift

Tenure and Tenancy

The building and site are held freehold under title k672423.

The occupational lease has recently been surrendered and a new lease granted on thefollowing terms:

• New lease dated 10 September 2018 expiring 31st December 2019

• Tenant = Thompson Snell & Passmore LLP www.ts-p.co.uk

• There is a tenant only option to determine the lease from the 25th June 2019 on 1 monthprior written notice (further information from the agent)

• The current passing rent is £140,220 per annum, exclusive (£14.60 per sq ft) rising to£216,000 per annum, exclusive (£22.50 per sq ft) from 25th March 2019. There isexcellent scope for further significant reversion in the office rent. Indeed, rents in thetown have now reached the late £20’s with very limited new or refurbished stockcoming to the market for the foreseeable future.

• Fully repairing subject to a Schedule of Condition (the tenant will not be expected tohand back the premises in any better repair and condition than documented within theschedule)

• The new lease is held outside of the security of tenure and compensation provisions ofthe 1954 Landlord & Tenant Act.





Potential Residential Development

The existing office building has been granted Notification for Prior Approval for a ProposedChange of use from Office Use (Class B1(a)) to Dwellinghouse (Class C3) to create 15 flats.Reference 17/03739/PNOCLA. Full information can be found on the Tunbridge wellsBorough Council website.

Furthermore, the vendor has had a successful pre-application meeting with the planningauthority for the creation of 9 x high quality residential units over 5 floors in a contemporarystyle. Please see design principles and artist’s impressions provided by Re-Format Architects.(Rex Milton / Dan Brunt 01730 778778). Positive feedback was received from the councilwhich is set out in a pre-application statement dated 18th July 2018 ref 18/01970/PAMETT(available on request).

Accommodation

The office building provides the following approximate floor areas:

Floor Sq ft Sq m

Reception 160 14.86

Ground floor office 2,277 211.54

First floor office 3,046 282.98

Second Floor office 3,046 282.98

Third floor office 1,071 99.50

TOTAL 9,600 891.86

The above floor areas have been measured on an NIA basis.

Note: Gross measurements and CAD plans are available on request.

Site area: Approximately 0.42 acres (0.169 hectares).





TUNBRIDGEWELLS

ROYAL VICTORIASHOPPING CENTRE

THE PANTILES(SHOPPING & RESTAURANTS)

10 mins walk

PARKLAND

SH

OP

PIN

G

PARKLAND

A26

A264A264

B20

23

Lond

on R

d

Lond

on R

d

Grove Hill Rd

Monson Rd

Vale R

dH

igh

St

Lonsdale GdnsM

ou

nt

Ple

asa

nt

Rd

Crescent Rd

TUNBRIDGEWELLS

STATION

HOOPERSDEPT. STORE

CALVERLEYGROUNDS

LonsdaleGate

REAR ELEVATION

REAR ELEVATION





SECOND FLOOR

THE PANTILES

ROYAL VICTORIA PLACE SHOPPING CENTRE

FIRST FLOOR





Flat Floor Type GIA*

01 Lower Gnd 3-bed 80.6m²02 Ground 2-bed 61.9m²03 Ground 3-bed 67.5m²04 First 2-bed 61.9m²05 First 3-bed 67.5m²06 Second 2-bed 61.9m²07 Second 3-bed 67.5m²08 Third 2-bed 64.8m²09 Third 3-bed 68.7m²

Circulation 121m²

*GIA excludes balconies and winter gardens

Key

Circulation

Flat 01

Flat 02 Flat 04

Flat 06 Flat 08

Flat 03 Flat 05

Flat 07Flat 09

Roof garden

Possible PV panels and air

source heat pumps installed

to roof area

IndIcaTIve flaT layouT of flaTs In rear proposed block

Total = 22.8 sq m (7,780 sq ft) Proposed Development





Bed1

Bed1

Bath

E/S

Bed 2

Bed 2

Bed 3

Liv / Kit / Din

Liv / Kit / Din

Bath

C C

CC

Hall

Hall

Stairwell / Lobby

Corridor

2-BED FLAT 3-BED FLAT

Lift

Winter Garden

Winter Garden

TypIcal flaT layouTs

IndIcaTIve flaT layouT and sTreeTscape vIsual of rear proposed block





IndIcaTIve cGI of rear proposed block


SUBJECT TO CONTRACT Prices & rentals are subject to VAT where applicableMisrepresentation Act: Hurst Warne and their joint Agents, where applicable, for themselves and for the vendors or lessors of this property for whom they act, give notice that (i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole part of an offer or contract; (ii) the agents cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; (iii) no employee of the agents has any authority to make any representation or warranty to enter into any contract whatever in relation to the property; (iv) prices/rents quoted in these particulars may be subject to VAT in addition; and (v) the agents will not be liable in negligence or otherwise, for any loss arising from the use of these particulars. Code of Practice for Commercial Leases - The Code of Practice on Commercial Leases in England and Wales recommends you seek professional advice before agreeing a business tenancy. The Code is available through the website www.commercialleasecode.co.uk

Our Leatherhead , Farnborough, Woking, Guildford, and Redhill regional offices cover Kent, Surrey, Hampshire, Berkshire & the South West M25 4045-Hw/LONSDALE/09.18

Leatherhead 01372 360190 - Farnborough 01252 816061 - Woking 01483 723344

Guildford 01483 388800 - Redhill 01737 852222


Nic Pocknall01372 36019007770 [email protected]

Will Gelder01737 85222207917 [email protected]

offers sought in excess of £4.20 million for the freehold interest subject to income of£140,220 pax rising to £216,000 pax from March 2019. A purchase at this level representsa capital value of £313 per sq ft net for the building and £5.71m per acre for the reardevelopment site.

Terms

The property is elected for VAT and will be applicable to the purchase.

VAT

Available on request.

Energy Performance Certificate (EPC)

Further documentation can be downloaded from a data-room as follows:

• Measured survey (CAD & PDF plans)• Site plan• Topographical survey• Title information & plan• Additional photos• Notification for Prior Approval for a Proposed Change of use from Office Use (Class B1(a))

to Dwellinghouse (Class C3) to create 15 flats. Reference 17/03739/PNOCLA• Re-Format Architects pre-application submission (Design Principles)• Planning & Design Group pre-application submission (Planning)• Pre-application advice from Tunbridge wells Council (dated 18th July 2018, ref

18/01970/PAMEET)• New reversionary lease dated 10 September 2018• Schedule of condition• Energy Performance Certificate• Bid proforma

Please email [email protected] or call: 01372 360190 for access to the dataroom.

Further Documentation

The site lies within the Tunbridge wells Conservation area and also falls within the RoyalTunbridge wells & Southborough local character area which is described as urban.

Conservation Area

Contacts

Documents

FREEHOLD FOR SALE - Amazon S3€¦ · Lonsdale Gate is well situated in the aﬄuent town of Tunbridge wells just a few minutes drive from the A26 Mount Pleasant Road. The premises