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Cafe, Wadhurst

Piccolo Café, High Street, Wadhurst, East Sussex TN5 6AJ

Basic Facts

Property ID: 14208 Post Updated: 2021-10-18 12:37:22
Status: Type:
Tenure: Freehold Gross Rent: £ 17,157
Lease Term: 15 years from Jun '14 Lease Term Expiry Date: 16/05/29
Years left on Lease: 5 VAT applicable: Yes

Property Description

  • Freehold, restaurant and residential investment.
  • An attractive period corner building comprising a ground floor double café with separate side access to a self-contained flat at first and second floor levels.
  • There is a rear parking space for 1 car.

Location Description

  • West Sussex is a county in the south of England, bordering East Sussex (with Brighton and Hove) to the east, Hampshire to the west and Surrey to the north, and to the south the English Channel. Chichester in the southwest is the county town and only city in West Sussex, with the largest towns being Crawley, Worthing and Horsham.
  • Wadhurst lies on the B2099 midway between the A21 and A26 some 7 miles south-east of Tunbridge Wells.
  • Occupying a prominent trading position adjacent to a new Jempsons Convenience Store, in the heart of this picturesque Village surrounded by a host of established traders.

Tenancy and Additional Notes

  • The property is let Jempsons Limited who are sub-letting to N & J Howard t/a Piccolo Café on a 15 year FRI lease from 16th June 2014, on a current rent of £16,907.
  • Rent review 2024 in line with RPI (min  1% and max 5% compound).
  • The flats have been sold off on 120 years from 7th May 2021 (ground rent £250 p.a).

Features

£500k - £1m
Attractive property
Blue-chip tenant
Customer car parking
Finance available
Freehold
Ground Rent investment
Minimum Rental Uplifts
New Development

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