FREEHOLD PART VACANT OFFICE INVESTMENT WITH EXCELLENT

DEVELOPMENT POTENTIAL

ROYAL TUNBRIDGE WELLS ‘NORTHFIELDS’

20-26 ST JOHN’S ROAD, KENT, TN4 9NT

Berkeley Homes, Royal Wells Park

Development (243 homes)

Fenwick

Tunbridge Wells Borough Council

Tunbridge Wells Museum and Art Gallery

The Opera House

Tesco Metro

Subject Property

Tunbridge Wells StationAssembly Hall Theatre

Outlines for indicative purposes only.

ROYAL TUNBRIDGE WELLS

INVESTMENT SUMMARY

• Freehold office with excellent development potential totalling a GIA of 1,553.3 sq m (16,720 sq ft).

• Centrally located with prominent road frontage to the A26.

• Affluent commuter town with excellent links to London Bridge, Charing Cross and Cannon Street.

• Ground floor let to Sentinel Core Services Limited at £60,000 per annum.

• Vacant lower ground, first and second floors totalling a GIA of 10,863 sq ft (1,009.2 sq m).

• Extensive car park providing 31 car parking spaces.

DEVELOPMENT POTENTIAL

• Excellent potential to convert the building to residential and develop the car park. Any development would be subject to obtaining all necessary consents.

• The property is considered to present an immediate opportunity for conversion to residential use through the application of permitted development rights. Our client has received planning advice outlining the development potential of the site, which is available on request.

We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds) which would reflect a low capital value of £119.62 per sq ft.

LONDONLondonCity

Gatwick

7

12

15

5

3

A22

A26

A21

A20

M26 M20

M25

M23

M25

MaidstoneSevenoaks

Edenbridge

Dartford

Cobham

Tonbridge

Croydon

Bromley

Brixton

Orpington

CrawleyEast

Grinstead

ROYALTUNBRIDGE WELLS

ROYAL VICTORIA PLACE

RETAIL MALLHANOVER R

D

UPP

ER G

RO

SVEN

OR

RO

AD

GR

OSVEN

OR

RO

AD

LIME HILL ROAD

MOUNT EPHRAIM

CRESCENT ROAD

DUDLEY ROAD

YORK ROAD

CAMDEN

RO

AD

VICTO RIA ROAD

CALVERLEY RD

NEWTON RD

GOODS STA

TIO

N R

OA

D

GROSVENOR PARK

WOODBURY P

ARK ROAD

ROYAL CHASE

CULVERDEN PARK

QUEENS ROAD

PARK ROAD

CA

RLT

ON

RO

AD

ST

JAM

ES

’ ST

RE

ET

ALBION ROAD

STONE STREET

BEULAH ROAD

A26

A26

A

26

LOCATION

Royal Tunbridge Wells is an affluent spa town with a resident population of 108,000 (K.C.C Research & Evaluation. 2011). Kent is the largest UK County by population which is forecasted to increase by 11% between 2001 and 2026.

Royal Tunbridge Wells is located approximately 31miles (50km) south east of London, 16 miles (25km) from Maidstone and 23 miles (37km) from Crawley. Road access to Tunbridge Wells is provided by the A21 dual carriageway which, in turn, provides access to Junction 5 of the M25 approximately 13 miles (21km) to the north. In addition, Brighton, Eastbourne and Hastings are accessible via the A26/7.

Gatwick International Airport is located 20 miles (32km) to the west.

SITUATION

The property is situated in a prominent position on the eastern side of St Johns Road (A26) which runs from the A21 in the north to the A22 in the south. The immediate area provides a mix of office, retail and residential accommodation. The property is located within walking distance (5 minutes) of Tunbridge Wells’ town centre and the Royal Victoria Shopping Centre.

Tunbridge Wells train station is situated 0.6miles (1km) from the property offering regular direct services to London Bridge (45 minutes) and London Cannon Street (50 minutes).

ROYAL TUNBRIDGE WELLS ‘NORTHFIELDS’ 20-26 ST JOHN’S ROAD, KENT, TN4 9NT

SCHEDULE OF ACCOMMODATION AND TENANCIES

Floor Tenant Area Sq m (NIA)

Area Sq Ft (NIA)

Area Sq m (GIA)

Area Sq Ft (GIA)

Lease Start

Lease End Break Rent Rent psf

Comment

Lower Ground

Vacant 107.3 1,155 144.5 1,555 - -

Ground Sentinel Core Services Limited

449.1 4,834 544.1 5,857 20/04/13 19/04/23 20/04/18 *£60,000 £12.41 There is a fixed rental uplift at next rent review 19/4/18 to £66,000 p.a. The lease is subject to a schedule of condition.

First Vacant 369.5 3,977 460.0 4,950 - -

Second Vacant 310.5 3,342 405.0 4,358 - -

Total 1,236.4 13,308 1,553.3 16,720 £60,000

*Sentinel Core Services Limited has the right to use car spaces 1-12 (inclusive)

FREEHOLD PART VACANT OFFICE INVESTMENT WITH POTENTIAL FOR CONVERSION TO RESIDENTIAL(subject to obtaining all necessary consents)

DESCRIPTION

Northfields is a purpose built mid terrace office building arranged over lower ground, ground and two upper floors, designed around a central atrium. The building benefits from male and female cloakrooms on the ground and upper floors and an 8 person passenger lift which provides access to all floors.

The property benefits from a secure self-contained car park providing 31 car parking spaces (Sentinel have the right to use 12 spaces). The car park is located to the rear of the property and is accessed via Culveden Square. There are 22 spaces provided in the undercroft parking area and a further 9 spaces to the rear of the property.

The vacant lower ground and two upper floors have been partially stripped out.

TENURE

Freehold.

126.2m

GROSVENOR PARK

Westcombe

2

6House

1

6

2

Chapel

HouseM

eeting

Alst

9

2 to

4

124.1m

Hoare

TCBs

Memorial

CULVERDEN SQUARE

GRO

SVENOR PARK

CULVERDEN SQUARE

5

40

20 to 2616

1

18

Bank

18a

25

3

13

11

30

Culverden

18

5

38

8

34

Bank

27

32

Depot

Abbey Court2

Church

28

36

10

75

4

19

19

0m 10m 20m 30m

ST JOH

N’S R

OAD

© Crown Copyright, ES 100004106. For identification purposes only.

TENANT COVENANT INFORMATION

Sentinel Core Services Limited Group

D&B Rating H2

Sentinel Limited were founded in 1998 as an IT based recruitment company which now has two overseas office’s. Sentinel Core Services Limited has been occupying the ground floor of Northfields since 2013 which acts as their head office. Sentinel had a total net worth of £1,647 (account dated 31st August 2015).

ROYAL TUNBRIDGE WELLS ‘NORTHFIELDS’ 20-26 ST JOHN’S ROAD, KENT, TN4 9NT

SITE AREA

The total site area extends to approximately 0.32 acres (0.13 hec).

RESIDENTIAL MARKET COMMENTARY

In recent years there has been a shortage of new residential development opportunities within Tunbridge Wells which has led to an increase in demand for new residential accommodation.

More recently, a number of residential developments have commenced in the area. Within close proximity is Royal Wells Park, a Berkeley Homes led mixed use scheme, situated, on the site of the former Kent and Sussex Hospital on Mount Ephraim Road. The initial phase of flats sold for prices in excess of £400 per sq ft while the remaining units are currently being offered at prices in excess of £550 per sq ft.

80 St Johns Road is a new development comprising twelve two bedroom flats that are currently being marketed in the region of £275,000 - £290,000 which demonstrates a capital rate in excess of £400 per sq ft.

The ABC cinema site has recently been purchased by Altitude, who anticipate developing a £90million mixed use regeneration scheme which is located 0.4miles south from the subject property, which will further enhance the area.

FUTURE REDEVELOPMENT

It is considered that there is significant scope to redevelop the property utilising permitted development rights and/or extending and in filling to the rear, subject to obtaining all necessary consents.

Our client has commissioned a planning report that outlines that the subject property is considered to present an immediate opportunity for conversion to residential use through the application of permitted development rights (the planning report is available to download from the data room). The planning report found that the site is expected to comply with the technical matters of permitted development due to the highly accessible location of the site, its lawful office use, environmental considerations and surrounding uses. The existing on site car park also means that it is unlikely to materially change the character of traffic in the vicinity of the site.

For further information or to make arrangements for viewing please contact:

www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 05.16

James Hood020 7344 2637james.hood@allsop.co.uk

Michael Linane020 7344 2623michael.linane@allsop.co.uk

James Salmon020 7543 6880james.salmon@allsop.co.uk

Roseanna Eden020 7543 6740roseanna.eden@allsop.co.uk

ENERGY PERFORMANCE CERTIFICATE

The building has an EPC rating D.

VAT

The property has been elected for VAT we assume the purchase will be treated as a transfer of going concern (TOGC).

DATAROOM

Further information is provided in the dataroom. For access please register on the following website www.northfieldstunbridgewells.com

PROPOSAL

We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds) subject to the existing lease, contract and exclusive of VAT. A purchase at this level would reflect a low capital value of £119.62 p.s.f.

Receiver Caveat:The property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Insolvency Practitioners are acting without personal liability.