Investment to Buy
High Street, Uckfield, TN22 Let/Sold
A substantial double fronted single storey retail unit providing modern open plan accommodation to suit a wide range of uses, such as retail, restaurant, office, gym or medical centre, which sit under the new planning use class E. There is air space above the property that would suit development into flats and our client has carried out a feasibility scheme which indicates 4 large flats, spread between the front and rear of the property and comprising 2x1.
Let to WH Smith Retail Holdings Ltd for approximately 5.5 years, with a guarantee provided by WH Smith High Street Holdings Ltd. Passing rent of £55,000 per annum
Location Uckfield is in the Wealdon District of East Sussex and is midway between Brighton and Tunbridge Wells. Sitting astride the river Uck and A22, the town has a population of just under 15,000 but enjoys a substantial retail catchment from neighbouring towns and villages. Uckfield benefits from excellent transport links with the town’s railway station (2-minute walk from property) providing direct services to London Bridge in 1 hour 20 mins. The property is right in the heart of the main retailing pitch and is surrounded by other retailers such as Waitrose, Superdrug, Specsavers and Santander. Whilst short term parking is still allowed in the High St, there is also a large Tesco with associated parking immediately behind the building.
Amenities Freehold interest for sale at £695,000 showing a net initial yield of 7.52%
High yielding prime shop with potential for new residential at upper levels
Prime position opposite Waitrose
Retail investment in affluent Sussex town
Passing rent of £55,000 per annum
Residential Redevelopment opportunity