Mixed Use Investment Opportunity FOR SALE
301 m² (3,240 sq ft) • Grade II Listed Building • To be sold with Vacant Possession • Previous rental income of approx. £78,000 pa • Commercial and Residential Uses • Prominent Main Road Position • Walking Distance of Canterbury East Train Station OFFERS IN THE REGION OF
Canterbury is around 60 miles southeast of London, having excellent road connections with the A2 and A28 linking with the M2 and M20 motorways respectively. It has two stations offering regular rail services, including High Speed connections to London St Pancras (55 mins).
The city has a catchment population of approximately 144,000 and is one of Kent’s premier retail centres with a comprehensive mix of national retailers and restaurants. It is a popular tourist destination and an important educational hub in Kent, with four universities having a combined student population of over 46,000.
The property is located in a prominent position fronting Wincheap around a 5 minute walk from the Wincheap Roundabout and Canterbury East Train Station and less than half a mile from Canterbury city centre, via the Dane John Gardens.
The property comprises an attractive Grade II Listed building dating back to the 16th Century arranged on ground and two upper floors, with further buildings and parking within the walled garden to the side. The main building is arranged with two commercial units on the ground floor, being a vape shop and former restaurant, with 3no flats on the first and second floors. Within the walled courtyard there is modern single storey timber building used as a Shisha lounge, having its own kitchen and toilet facilities, and a detached two storey residential annex arranged as 3no. self-contained apartments. There is also a decking area and parking for a mobile catering unit.
The property is currently split to provide the following accommodation: Floor Description Area m² sq ft Ground Vape Shop 41.6 448 Ground Restaurant & Kitchen 73.6 792 First One bed flat 56.2 605 First Two bed flat 75.9 817 Second Two bed flat 38.5 414 Outside Shisha Lounge & Seating 54.9 591
Outside Decking & Parking Ground Annex 1 bed flat 22.3 240 Ground Annex 1 bed flat 23.7 255 First Annex 2 bed flat 53.9 580 Total
The walled courtyard area is accessed directly from Wincheap, providing a communal parking area. TENANCIES
The property is offered for sale with vacant possession, but was previously let to four commercial tenants and six residential tenants, producing a gross rental income of around £78,000 per annum.
BUSINESS RATES & COUNCIL TAX
The tenants are responsible for business rates, or council tax with the property, which has the following current assessments:
Area Description RV £ Ground Restaurant & Premises £13,000 Rear Lounge & Premises £5,700 The annex apartments are each assessed within Council Tax band B.
The property currently has a single EPC assessment within band C (68). FURTHER INFORMATION
Interested parties can request a link to a data-room providing further information in relation to the property, including scale floor plans, rates & EPC.
PLANS & BOUNDARIES
Any plans provided are for identification purposes only and are not to scale.
METHOD OF SALE
The freehold interest is offered for sale subject to the vendor providing vacant possession. Our clients are seeking offers in the region of £850,000 on an unconditional basis.
Each party will bear their own legal costs. VAT/FINANCE ACT 1989
Unless otherwise stated, any prices are exclusive of Value Added Tax (VAT). Prospective occupiers should satisfy themselves independently as to any VAT payable in respect of any transaction.
In accordance with Anti Money Laundering Regulations, we are now required to obtain proof of identity for all purchasers.