POTENTIAL DEVELOPMENT/FREEHOLD INVESTMENT OPPORTUNITY: The Riverside Restaurant at the George and Dragon, School Hill, Lamberhurst, near Tunbridge Wells, Kent TN3 8DQ
Place Category: Freehold
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***STRICTLY PRIVATE AND CONFIDENTIAL***
POTENTIAL DEVELOPMENT/FREEHOLD INVESTMENT OPPORTUNITY: The Riverside Restaurant at the George and Dragon, School Hill, Lamberhurst, near Tunbridge Wells, Kent TN3 8D
MAY WE KINDLY REQUEST THAT YOU DO NOT APPROACH STAFF. WE ARE ACTING FOR THE FREEHOLDER.
We are delighted to offer on the market this truely beautiful restaurant/inn comprising restaurant area, lounge, letting rooms, private living accommodation, very large car park in the extremely affluent area of Lamberhurst close to Scotney Castle.
This property is currently trading under temporary management under a 1 Year Licence Agreement whereby the tenants pay £500 rent per week. They paid Nil Premium with a 3 month rent free period. The tenants have been granted a 1 year licence agreement in the eventuality that a purchaser may wish to apply for planning. This is therefore an ideal opportunity for a developer or investor as you now have an opportunity to obtain vacant possession.
(For your information if you did wish to re-let the site, I can confirm that I personally let this property 9 years ago on a 25 Year Fully Repairing and Insuring Lease to George and Dragon Ltd. Rent agreed was £62,772 per annum. Rent reviews were yearly at RPI).
With regards a potential planning application the vendor has suggested the following:-
Should planning be granted for:-
10 Flats: A sale price in the region of £950,000
12 Flats: A sale price in the region of £1,080,000
14 Flats: A sale price in the region of £1.3M
after 14 flats then social housing would take effect (Tunbridge Wells Local Authority)
To arrange a site visit, please contact either myself Victoria on 07758265681 or Zak on 07771000906. We act direct for the vendor who is serious about selling and we have sold sites for him before also in Kent.