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Freehold Restaurant with Ancillary Accommodation
Comprises Ground Floor Restaurant with Ancillary Accommodation at first floor
Rent Reviews 2023 and every fifth year thereafter
VAT is applicable to this property
Occupiers close by Boots, Santander, NatWest, Barclays, wh Smith, amongst others
Investment Consideration: Gross Initial Yield: 5.82% Rental Income: £16,000 p.a. VAT is applicable to this property. Rent Reviews 2023 and every fifth year thereafter. The property is arranged as a Ground Floor Restaurant with internal access to Ancillary Accommodation at first floor level. Entire property let to Sefa Karatay t/a Hattusa as a Turkish Restaurant on a lease expiring in 2038 (No Breaks). Occupiers close by Boots, Santander, NatWest, Barclays, wh Smith, amongst others.
Property Description: A mid terraced building comprising a Ground Floor Restaurant with internal access to Ancillary Accommodation at first floor level. There may be potential to convert the first floor to Residential Use under Permitted Development similar to other units in the parade, subject to obtaining possession and the necessary consents. There is already an external fire escape staircase at the rear which leads out on to the High Street.
Tenancy: The entire property is let on a full repairing and insuring lease to Sefa Karatay t/a Hattusa as a Turkish Restaurant for a term of 20 years from 4th September 2018 at a current rent of £16,000 per annum exclusive. Rent Reviews 2023 and every fifth year thereafter. There is a £4,000 Rent Deposit held. Hattusa has 5 branches including two in Sevenoaks, one in Tunbridge Wells and one in Tonbridge: Visit www.hattusa.co.uk
Location: Located in Crowborough town centre adjacent to Morrisons and The Original Factory Shop, close to WHSmith, Santander, Boots Pharmacy, Costa Coffee and a host of local traders. Crowborough lies approx. 21 miles north east of Brighton, 24 miles south of Croydon and benefits from good road links via the A26.
For more information about this property, please contact Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)
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