£6,000,000 /Sale price

FREEHOLD RESIDENTIAL INVESTMENT TONBRIDGE TOWN CENTRE19 High Quality Apartments Fully Let to Tonbridge & Malling Borough Council Passing Income: £309,500 per annum Investment Summary. A rare opportunity to acquire a newly converted and extended freehold residential investment in the heart of Tonbridge town centre, directly overlooking Tonbridge Castle and the River Medway.The property comprises 19 high-quality apartments arranged over upper floors and fully let to Tonbridge & Malling Borough Council on a secure 10-year lease, offering investors a strong and stable income profile with CPI-linked growth.Key HighlightsFully let to Tonbridge & Malling Borough Council (TMBC) 19 apartments: 7 x one-bedroom and 12 x two-bedroom units Passing rent: £309,500 per annum (exclusive) Lease term: 10 years + 1 day from 18 June 2025 Rent reviews: CPI-linked, capped at 4% annually Tenant break at year 5, subject to 30 days' noticeProminent High Street position opposite Tonbridge Castle Secure undercroft parking (10 spaces) and bicycle storage Lift access to all floors Several apartments include private terraces, courtyards or castle viewsThe PropertyThe property forms an attractive end-of-terrace building comprehensively converted and refurbished to provide 19 high-quality apartments. The development has been completed to an excellent standard, with modern layouts and specifications suitable for long-term occupational demand. Residents benefit from: Passenger lift to all floors Secure undercroft parking for 10 vehicles Bicycle storage High-quality finishes and contemporary design Select units with private outdoor space or scenic views across the River Medway and Tonbridge CastleThe ground floor commercial unit has been sold off on a 999-year lease at a peppercorn rent. The long leaseholder contributes fairly to building insurance and upkeep.LocationOccupying one of the most prominent positions on Tonbridge High Street, the property sits directly opposite the iconic Tonbridge Castle and adjacent to the River Medway, offering an attractive and central setting. Tonbridge is a thriving commuter and market town, with a wealth of national retailers, restaurants, cafes and essential services within a few minutes' walk.Transport ConnectivityTonbridge Railway Station approx. 56 minutes' walk Direct trains to London Waterloo, London Bridge and London Charing Cross (fast services c.40 minutes) Excellent road access to A21 and M25 (J5) Gatwick Airport approx. 28 miles Eurotunnel approx. 50 milesLease SummaryTenant: Tonbridge & Malling Borough Council Use: Residential (upper floors) Passing Rent: £309,500 per annum exclusive Lease Term: 10 years + 1 day from 18 June 2025 Rent Review: Annual CPI-linked increase, capped at 4% Break: Tenant break option at year 5 (30 days' written notice) Repairing Obligations Tenant: Internal repairs and redecoration; fair wear and tear at end of term Landlord: Structure, exterior, common parts, lift, lighting and heating to common areas Covenant TMBC is a well-established local authority with detailed annual accounts and a strong financial management framework. Latest financial statements and budget details are publicly available