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Crowborough
£850,000

LOCATION
Beechview is situated in a largely residential area some 1.5 miles from the main town centre where retailers such as Morrisons, Waitrose, Lidl are situated are about 1.5 miles from the town centre, close to Crowborough & Jarvis Brook railway station with services to Uckfield and London Bridge/Victoria via East Croydon & Clapham Junction. Tunbridge Wells is about 7 miles, East Grinstead about 13 miles and Uckfield about 9 miles.

DESCRIPTION
Beechview consists of a parade of four shops with 2 flats above together with rear yard/parking area with 3 blockwork garages and timber outbuildings and storage units.

The residential upper parts are leased seperately on annual licences. 1a Beechview consists of 4 bed flat 3 Beechview is a 3 bed flat. Car parking in front of the retail parade is included as well as the yard to the rear.

ASSET MANAGEMENT
This could increase short term income from circa £61,920 to in excess of £68,000 per annum. Due to the plot size and subject to all necessary planning consents there is the possibility for redevelopment at the rear of the site.

BUSINESS RATEABLE VALUES: 1 April 2023 to present
1 Beechview Parade - £10,250
1d Beechview Parade - £2,850
2 Beechview Parade - £4,600
3 Beechview Parade - £4,500

Small Business rate relief is applicable for these properties with rateable values below £15,000.

TENURE
The freeholds are held under the following title numbers: ESX252137, ESX270829 and ESX247338.

COUNCIL TAX
The residential properties:-
1a Beechview Parade, Walshes Road, Crowborough - Band C
3 Beechview Parade, Walshes Road, Crowborough - Band A

Business and Council tax rates payable are generated via Wealden District Council. www.wealden.gov.uk.

TERMS
Offers are invited in the region of £850,000 for the freehold assets, subject to the existing income, subject to contract and exclusive of VAT. The quoting price shows a gross initial yield of circa 7.3% with potential for an uplift to in excess of 8.0% post asset management initiatives.

The rents are not subject to VAT

All tenancies are held on short term annual licences

VIEWING
For viewing and further information please contact the joint selling agents RH & RW Clutton Philip Baker/Benedict Hall

RH & RW Clutton East Grinstead Office - 01342 410122

BenedictH@rhrwclutton.co.uk
PhilipB@rhrwclutton.co.uk
 

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