Landmark Building For Sale in Royal Tunbridge Wells
Kingsbury have been appointed to manage the sale of Calverley House, an island site extending to over 70,000ft² within the heart of Royal Tunbridge Wells, which offers a real mixed bag of investment and development angles.
The main building comprises 10 shops let to tenants including Argos and Coral, producing £430,000p.a. along with a business centre which produces £750,000p.a. across the upper floors which benefit from Prior Approval consent for conversion to 112 flats.
Also included in the sale is a further self-contained office building and a multi-storey car park situated across the road, which offer potential for further development of circa 20 apartments.
The opportunity will be of interest to a range of investors and developers seeking to implement the PD consent and looking to improve the income of the retail element.
Offers are invited in excess of £18,000,000 for the freehold interest, which reflects a gross initial yield of 6.7% and a low capital value of £250 per ft² on total net areas (excluding the car park).
Please contact Paul Heale (email@example.com) on 020 7183 2529 for further information.
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