16-18 North Street, Ashford, Kent, TN24

For Sale - £340,000

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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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