London Road, Royal Tunbridge Wells TN1 1DS
Offers in the region of £3,500,000
The existing property comprises a 38 bedroom hotel, with ancillary accommodation, known as The Retreat arranged over 4-storeys extending to approximately 19,988 sq.ft.
There is a garden to the rear and a small area of hardstanding to the side which is currently used for parking for up to 2 vehicles. Vehicular access is taken from London Road.
The building occupies a site of circa 0.46 acres which is bounded by London Road and Inner London Road with residential properties on all other boundaries.
The property is prominently located on London Road in Tunbridge Wells, an affluent commuter town in North West Kent approximately 35 miles south-east of Central London.
The immediate location comprises mainly residential uses, although several properties along London Road operate as hotels and other business uses. The main shopping area of Mount Pleasant Road and the High Street are located within walking distance of the property offering a wide range of shops and amenities.
Lower Common is situated directly opposite the property, providing 35 acres of public open space.
Tunbridge Wells Station is located approximately 400 metres from the property with direct trains running to Charing Cross, London Bridge, Waterloo and Cannon Street in circa 50 minutes.
Planning & Development Potential
The property is not listed but is located within the Tunbridge Wells Conservation Area.
A resolution to grant planning permission was given in 2019 (ref: 19/01515/FULL) for the extension, conversion and change of use of existing hotel to provide 19 residential apartments.
The proposed development will comprise of 6 x 1 bedroom, 11 x 2 bedroom, 2 x 3 bedroom apartments totalling 22,690 sq.ft. GIA.
All of the units will be for private sale however, the planning consent is subject to a Section 106 agreement with financial obligations of circa £30,000.
Now that the principle of residential apartments has been established there is potential to increase upon the density by re-configuring the internal layouts of the units, subject to obtaining the necessary consents.
The property offers potential for continued use as a hotel or change of use to a variety of alternative uses as well as offering potential to redevelop the property, subject to obtaining the necessary planning consents.
The property will be sold freehold and subject to vacant possession on completion.
The property is not elected for VAT.
Offers are invited in the region of £3,500,000 for the vacant freehold interest reflecting £175 per sq.ft.
Further information including planning and legal documents are available within our dataroom using the access code ‘Retreat’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
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- 38 bedroom hotel and associated land extending to approximately 19,988 sq.ft. (GIA) occupying a site of circa 0.46 acres
- Planning permission for the extension, refurbishment and change of use of existing hotel to provide 19 residential apartments (6 x 1 bed, 11 x 2 bed, 2 x 3 bed) totalling 22,690 sq.ft. (GIA)
- All apartments are available for private sale
- Sought after residential location and circa 400 metres from Tunbridge Wells Station
- Offers invited in the region of £3,500,000 for the vacant freehold interest reflecting £175 per sq.ft.
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529