Of interest to Owner Occupiers and Investors/Developers
Income producing site with planning permission for residential development
- Current rental income of approximately £105,000 pa
- Excellent location close to the A25/A21/M25 intersection
- Approximately 2 miles from Sevenoaks
- Guide Price £1.85 million Freehold
Warren Farm, Sundridge
The site is situated in Sundridge close by to Sevenoaks, Kent approximately 28 miles south east of London and 14 miles west of Maidstone. Junction 5 of the M25/A21/A25 intersection is close by.
The A21 is the main arterial road that runs north/south between junction 5 of the M25 and Royal Tunbridge Wells. The A25 runs east/west from Sevenoaks and Maidstone to the east and Reigate/Dorking to the west.
Main line railway services are available from Sevenoaks Station which provides frequent services to London.
Sevenoaks Town Centre benefits from a wide range of local amenities including Bleighs Meadow Retail Centre, the Riverside Retail Park and a selection of national and independent retail operators.
This property offers both an income producing mixed use, residential and commercial investment and an attractive development opportunity and no doubt various other angles for added value or increased income.
Warren Farm currently comprises a detached residential family home, two further residential units, an income producing commercial investment through 9 offices and a horse paddock measuring 1.6 acres. The site is currently fully let and generates circa £105,000, although has planning consent pending for partial redevelopment to provide 4 x 2 bedroom houses and 2 x 4 bedroom houses. In addition the site also appears to offer potential for either a more significant residential development or could be adapted and extended to generate higher income (STP).
Total Site area: 4.1 acres.
The commercial element for the most part comprise single storey offices with car parking let on Tenancy Agreements, excluded from the Landlord and Tenant Act 1954. Details of these tenancies are set out above.
The residential element comprises an existing detached brick five x bedroom dwelling together with garden area accessed directly from the A25.
The House currently produces £24,000 per annum .
Full planning has been granted for the house to be extended by 50% or converted to two residential dwellings of 1 x 3 bed and 1 x 4 bed with parking and gardens.
In addition there are two single storey bungalows also let on AST Agreements. The current rental income from the residential properties are as follows:
Hoopoe Cottage – £9,600 per annum – monthly rolling agreement
Weaver Cottage – £9,900 per annum – monthly rolling agreement with private parking and entrance
Having obtained consent for the conversion of the office accommodation to residential, we believe that it may be possible for a comprehensive redevelopment of the site to create additional residential accommodation. A application of this nature was recently submitted however was withdrawn to make minor amendments to the bulk and mass resulting in the lowering of some ridge heights and repositioning of one dwelling. Sevenoaks District Council unfortunately do not allow amended plans to be submitted during the application, and a new application would need to be submitted. Whilst our Clients are looking for an unconditional sale of the site any incoming Purchaser may wish to pursue this.
A guide price of £1.85 million is being invited for the freehold interest.
We understand VAT is not applicable in this transaction.
Both Parties to be responsible for their own legal costs.
We understand that the existing buildings benefit from connections to all main services (to be confirmed/sceptic tank). Interested Parties are advised to satisfy themselves in that regard.
Copies of floors plans, Title Plans and Decision Notices and other information are available upon request.
All on site viewings are strictly by appointment with Joint Agents Gildersleve & Payne Tel 01883 723888
Contact Nick Payne mobile 07974 715832 Email: firstname.lastname@example.org
or Acorn Commercial Tel 020 8315 5454
Contact Adam Hosking Email: email@example.com
Code of Practice Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk