16-18 North Street, Ashford, Kent, TN24
For Sale - £340,000
Location
This property is situated on the eastern side of North Street and is located at the northern end of the street within the pedestrianed area of the town, only a short walk from the High Street.
Ashford, one of Kent's designated growth centres, currently has a population of approximately 75,000 inhabitants and is set to grow substantially in the next 20 years. The town is centrally located within the county, benefitting from a fine communications network via the A20/M20 and five mainline railways. Ashford International Passenger station gives direct access to northern continental Europe via Eurostar and London is some 38 minutes distant via HS-1.
Description
This is an attractive mid-terraced, three-storey Grade II listed building with a basement, providing a total of 1,914 sq.ft. of accommodation over the four floors. It provides a good investment opportunity or potential for residential redevelopment with the possibility of creating two self-contained flats (one on each of the upper floors), which could generate an income in the region of £20,000 per annum, subject to gaining all necessary consents. The offices are currently let as per the below schedule.
Ground Floor and Basement - Beauty Salon - £12,000 p.a. exclusive - 6 year lease to 2029.
1st Floor Office - £9,000 per annum exclusive. 3 year lease expiring in February 2025
2nd Floor Office - £2,820 per annum inclusive.
2nd Floor Office - £5,040 per annum inclusive.
2nd Floor Office - £2,820 per annum inclusive.
2nd Floor Office - £3,780 per annum inclusive
*2nd Floor offices all let on monthly inclusive licences.
At A Glance
- Accommodation totalling 1,914 sq ft
- Town centre location neighbouring Pizza Express
- Income of £35,460 (gross) p.a. showing an initial yield of 9%
- Redevelopment potential, subject to planning
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