The Red Lion, 1 Frindsbury Road, Rochester, Kent

www.sibleypares.co.uk 01622 673086 commercial@sibleypares.co.uk

Investment Opportunity with Residential Uppers

The Red Lion, 1 Frindsbury Road, Rochester, Kent

Description FOR SALE - Former Public House Investment with Residential Uppers

There is potential for further development subject to gaining the

necessary consents, the ground floor benefits from historic planning

permission for 2 further 2 bedroom flats.

Location The property is a former Public House that has been converted into a

convenience store. It is located on the junction of the A228 with Cliff

Road benefiting from return frontage. The property is in a

predominantly residential area, it benefits from good

communications, with junction 1 of the M2 within a 15 minute drive

and being within walking distance of Strood Train Station, which is a

high speed location servicing London St Pancras in approximately 35

minutes.

Return Frontage

Prominent Location

Mixed Use Investment

Self-Contained First

Floor 2-bedroom flat

Offers in excess of

£325,000 for the

freehold

The Red Lion, 1 Frindsbury Road, Rochester, Kent

Accommodation The property currently comprises a convenience store on the ground floor, and a spacious self contained 2

bedroom residential flat on the first floor.

Commercial

Retail Area: 894 sq ft 83.05 sq m

Ancillary Storage: 214 sq ft 19.91 sq m

Kitchen: 44 sq ft 4.11 sq m

WC

Lease Terms

Commercial: 20 year lease from 1/12/2011 (13 years unexpired), current passing rent £12,000 pa with 2 yearly

upwards only rent reviews with next review on 1/12/2019

Residential: Currently let on an AST at £9,300 pa

Total Annual Income: £21,300 pa

Asking price reflects a NIY of 6.2% taking purchasers cost @ 5.8%

1 Ashford Road, Maidstone, Kent, ME14 5BJ

Maidstone (01622) 673086 Ashford (01233) 629281 Partners: Sarah Raggett, BSc (Hons) MRICS Phillip Hubbard, BA (Hons) MRICS Mark Presland, BSc MA MRICS

Consultants: David Pares, MRICS Brian Matthews, MRICS CBuildE MCABE

Sibley Pares Chartered Surveyors is a trading name of Sibley Pares LLP Registered in England and Wales No: OC400776. Registered office as above. VAT Reg No: 218 5130 30.

NOTE: Rental, prices or any other charges are inclusive of VAT unless otherwise stated.

MISREPRESENTATION ACT 1967. These particulars are believed to correct, their accuracy cannot be guaranteed and are expressly excluded from any other contract. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in

these particulars. No fittings, appliances or services mentioned have been tested by Sibley Pares

Terms

In accordance with Money Laundering Regulations, we are

now required to obtain proof of identification for purchasers.

Rateable Value

RV £12,500 @ 48.0p in the £

Rates payable £6,000 for the year 2018/19

Offers in excess of £325,000

Services

Mains Water, Electricity, Gas

VAT

All figures are exclusive of VAT which will be charged at the

prevailing rate.

Legal Costs

Each side to bear its own legal and professional costs

EPC

Commerical: Awaited

Residential: E (45)

Viewing/Enquiries

Strictly by prior appointment through the Surveyors. Please

contact

Phil Hubbard e: phil.hubbard@sibleypares.co.uk or

Matt Sadler e: matt.sadler@sibleypares.co.uk

Residential

GIA: 957 sq ft 88.91 sq m

Planning Information

Historic consent for conversion of ground floor for

2 Two-Bedroom flats Reference no. MC/10/0681