(12.5% gross yield)
6 Week completion
Occupying a prominent trading position close to the junction with Ashford Road within the principal retailing area of the town and being amongst a variety of local restaurants, retailers and multiple traders including Costa, Lloyds Bank, Co-op Funeral Care, Lloyds Pharmacy, Spar, Post Office and The British Red Cross.
New Romney is an attractive town being one of the Cinque Ports lying off the main A259, approx. 18 miles north-west of Hastings and 13 miles south-west of Folkestone.
Forming part of a mid-terraced building comprising a Ground Floor Double Fronted Shop.
In addition, the property benefits from a rear car park for unloading and parking.
VAT is NOT applicable to this Lot
Ground Floor Double Fronted Shop
Gross Frontage 22'11"
Internal Width 20'10"
Shop Depth 15'8"
Built Depth 29'9"
Leasehold for a term of 999 years from completion at a peppercorn ground rent.
The property is let on a full repairing and insuring (Law Society) lease to The Vapour Trail (New Romney) Ltd as an Electric Cigarette Shop for a term of 6 years from 1st December 2016 at a current rent of £12,500 per annum exclusive.
Rent Review 2020
Note: The landlord is holding a 6 month rent deposit of £6,250.