Mill Street, Maidstone, Kent, ME15

Freehold Investment Opportunity – 68 Bank Street & 1–3 Mill Street, Maidstone

An attractive freehold investment opportunity comprising 68 Bank Street and 1–3 Mill Street, Maidstone, producing a total current income of £33,456 per annum, offering established residential and commercial rental income.

Flat D is included within the sale and occupies the top floor, extending to approximately 66 sq m. The flat is currently let at £1,288 per calendar month, providing an established residential rental income.

1-3 Mill Street is let to the Bulgarian Food Shop, which has occupied the premises for approximately six years. A new five-year lease was agreed from 6 September 2024, at a current rent of £18,000 per annum.

The remainder of the property is subject to existing long-term lease arrangements. 68 Bank Street was sold on a 999-year lease in 2019, at a peppercorn rent. Flats A, B and C are held on 125-year leases commencing in 2015, also at peppercorn rents, with the leaseholders responsible for contributing towards service charges for the maintenance of the building.

The property therefore presents an opportunity to acquire the freehold interest in a mixed-use town-centre investment, combining established residential and commercial income with long-term leasehold interests.

Residential EPC Rating - D

Commerical EPC - To Follow

Construction Type/Materials: To Follow

Broadband Coverage: To check broadband and mobile phone coverage please visit Ofcom here: https://www.ofcom.org.uk/phones-and-broadband/coverage-and-speeds/ofcom-checker

Identification checks

If an offer is accepted on a property marketed by Miles & Barr, all purchasers are required to complete ID verification checks. This is a legal obligation under Anti-Money Laundering Regulations. We use a specialist third-party company to carry out these checks. The fee is £60 (including VAT) per person or £120 (including VAT) if purchasing under a company name, payable once the offer is agreed and before the sales memorandum is issued. Please note that this charge is non-refundable.

Location

Maidstone is the county town of Kent in southeast England, located on the banks of the River Medway, about 32 miles (51 km) southeast of London. It is known as the commercial and administrative centre of Kent and combines a historic town centre with modern shopping, business, and leisure facilities.