High street retail and residential investment for sale in Sevenoaks

This property is marketed by:
Colliers

Key features

• Sevenoaks is an affluent market town in Kent, desirable with commuters due to the regular train services to central London in just 23 minutes.
• The property occupies a strategic position on Sevenoaks’ prime High Street , within a 2 minute walk of Waitrose and the main town car parks.
• Mixed use property comprising 1,775 sq ft (165 sq m) of retail accommodation on the ground floor and 1,788 sq ft (166.1 sq m) of residential accommodation over the first and second floors.
• The retail unit is let to De Montfort Fine Art Limited (trading as Clarendon Fine Art) from 21st July 2022 for a term of 10 years at a passing rent of £65,000 per annum.
• On the fifth anniversary there is an open market rent review and a tenant break option (3.25 years term certain ).
• The residential accommodation comprises two newly refurbished flats let on ASTs, generating a combined rental income of £39,360 per annum.
• Freehold.

Location

Sevenoaks is an extremely affluent market town in Kent and one of the wealthiest constituencies in the UK. It is only 24 miles (38.6 km) southeast of London making it highly attractive to families and commuters, with 20 trains per hour running to London and journey times of just 22 minutes.

It is surrounded by beautiful countryside and many historical attractions such as as the National Trust country house at Knole which includes a vast 1,000 acre deer park, along with Chartwell and Hever Castle. These all help to attract many regular visitors to the Sevenoaks district.

This visitor economy is key to the development of the localleisure, retail and cultural venues. In 2022 the town was named the best place to live in the South East according to The Sunday Times.

Situation

Situated at the southern end of Sevenoaks High Street, the property is central to the town’s four main car parks and close to the bus station on Buckhurst lane. The town centre comprises a strong mix of national and independent retailers, restaurants and coffee shops. The town hosts various local markets, including one on Saturday that stretches along the length of the High Street, complementing the retail offer in the town.

The focus of the retail offer in Sevenoaks is centred upon Bligh’s Meadow, London Road and the High Street which form a triangle in the centre of the town, with the subject property situated on the south east end of the retail circuit.

Bligh’s Meadow is anchored by M&S and Gail’s Bakery. National retailers are mainly found on the High Street with independent retailers focused on London Road. Retailers in the immediate vicinity include Space NK, Sweaty Betty, Mint Velvet, Oliver Bonas, Toni & Guy, Boots, Poundland, Neals Yard, White Stuff and Paperchase. Specsavers have recently signed a new lease at 100- 102 High Street, directly adjacent to the subject property, on attractive terms of £75,000pa. The old Specsavers unit, 93 High Street, was let to Hotel Chocolat, testament to the strength of the retail pitch in this location. There is also a large Waitrose supermarket located just off the High Street, under 2 minutes walk from the property.