Landmark Building For Sale in Royal Tunbridge Wells

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 (paul.heale@kingsbury-consultants.co.uk) on 020 7183 2529 for further information.



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