Retail Property (high street) for sale

Canterbury Lane, Canterbury

£1,250,000

Property Description

Full description

Freehold Commercial Investment comprising a parade of 2 Shops and a Restaurant
Currently Producing £74,000 per annum

LOCATION:

The property is situated in a city centre location within the city walls in Canterbury Lane which links Burgate and St Georges Street.

The property is only 200 m. from the Whitefrairs Shopping Centre and Canterbury Cathedral. Opposite the building is the tower of Mary Magdalen and all the major multiples are situated in St Georges Street and Whitefriars Shopping Centre.

There is good access onto Upper and Lower Bridge Street which is the main ring road around Canterbury. The property is situated equidistant between Canterbury East and Canterbury West rail stations. The latter has fast train services to London St Pancras.

The historic Cathedral city of Canterbury in East Kent is approximately 42 km. east of Maidstone and 85 km. south east of central London. The city has a residential population of c. 40,000 with a region population of 135,000. There is a student population of c. 28,000.

The property comprises a parade of 2 shops and a Restaurant in the centre of Canterbury.

3 Canterbury Lane comprises a lock-up shop unit c. 32.15 sq.m. (346 sq.ft.) with kitchen and cloakroom facilities. The property is trading as The Cash Resolve which deals with the purchase of precious metal and jewellery with a buy back scheme.

5 – 7 Canterbury Lane comprises a Restaurant on 2 floors. The ground floor includes a serving, cooking and seating area with a kitchen and preparation area at the rear c. 110.76 sq.m. (1,192 sq.ft.).
The first floor comprises a restaurant and bar with cloakroom facilities c. 89.88 sq.m. (967 sq.ft.). The business has been established for over 42 years and offers teas, coffees, breakfast, lunch and afternoon tea.

9 Canterbury Lane is trading as the Belly Bar Tattoo and Piercing Shop on 2 floors.
The ground floor comprises a shop unit and studios c. 55.61 sq.m. (598 sq.ft.).
The first floor comprises a studio, treatment room, clean room and cloakrooms c. 35.85 sq.m. (386 sq.ft.)

TENURE:
The property is held freehold and registered at HM Land Registry under title number K550325

TENANCY SCHEDULE:
3 Canterbury Lane is let to Cash Resolve on a 10 year internal repairing lease from 1st April 2017 at rent of £12,000 per annum. There is a break clause in the third year.

5 – 7 Canterbury Lane is trading as Panteli’s Café Restaurant let on a 10 year internal repairing lease at a rent of £42,000 per annum from 1st April 2018 (lease to be completed).

9 Canterbury Lane is let on a new 10 year internal repairing lease from 1st April 2017 at a rent of £20,000 per annum and is trading as The Belly Bar. There is a break clause in the 5th year.

The rents are paid monthly in advance.

PLANNING:
The property is situated within the historic city of Canterbury. The property is not listed however it is located within the Canterbury conservation Area. For further details contact Canterbury City Council Planning Department .

VAT:
VAT will not be charged on the sale of this property.

VIEWING:
For viewing arrangements please contact:
Stuart Jerden BA FRICS FNAEA FICBA on stuart.


More information from this agent

Energy Performance Certificate (EPC) graphs

Nearest stations

  • Canterbury East (0.4 mi)
  • Canterbury West (0.5 mi)
  • Sturry (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pearson Gore Commercial, Ramsgate

44 - 46 Queen Street, Ramsgate, CT11 9EF

01843 315087 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Canterbury East (0.4 mi)
  • Canterbury West (0.5 mi)
  • Sturry (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pearson Gore Commercial, Ramsgate

44 - 46 Queen Street, Ramsgate, CT11 9EF

01843 315087 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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