81 & 81a, Bank Street, Kent

Description

Commercial Development and Two Flats
Maidstone, Kent
Offer Over £500,000

Opportunity –

81 Bank Street has a ground floor café and bar area, circa 140 sq/m, currently there is a commercial kitchen area on the first floor, along with a one-bedroom managers flat. There is also a large cellar

81a Bank Street, two-bedroom flat in this wonderful period property, full of original features

81 Bank Street is a licensed premises, however, in such a prominent high street pedestrianised location, it is perfect for many of uses, please see the alternative use section below

81a Bank Street is currently let on an A.S.T. at £1,000 pcm, however, this stunning property could achieve much greater revenue used as a holiday let, please see financial details below

Location –

Bank Street is the most complete Medieval Street in Maidstone

The perfect location for any business wishing to benefit from heritage and footfall

Development –

The kitchen and one-bedroom managers flat on the first floor could be converted into a larger two-bedroom flat with separate access, increasing the potential revenue even further – please see the attached floorplan titled 81b Bank Street, rear flat

Internal Details –

Ground Floor is 138 sq/m, there is also a considerable cellar with good headroom used for storage

72 sq/m First Floor currently the rear section of the property on the first floor is used for the commercial kitchen space and the manager/owners flat.

First & Second Floor at the front of the property is a self-contained flat with two ensuite-bedrooms, large living room and kitchen. At 110 sq/m this is a very spacious flat, with many original features

Please see the floorplans for further information

Tenure –

Nationwide Business Sales are delighted to offer this exciting opportunity to the market at ‘Offers Over £500,000’

Financial Details –

As a stand-alone business the ground floor, with cellar should command a rental income of circa £24,000 pa

81a & 81b as two-bedroom holiday lets commanding an average of £100 per night at 60% occupancy will deliver an annual turnover of £54,000.

The rate and occupancy level suggested for the holiday lets are intentionally low to demonstrate a worst case scenario