28/28A St. Dunstans Street, Canterbury, Kent, CT2

Investment Consideration:
Gross Initial Yield: 9.52%
Rental Income: £26,169.96 p.a.
VAT is applicable to this property
Comprises double fronted retail premises t/a Kitchen Showroom
Situated within short walk from Canterbury West train station, with occupiers nearby including Sainsbury`s Local, Cake Box, Pharmacy, Convenience Store and more.

Property Description:
The property comprises double fronted retail premises at ground floor t/a Kitchen Showroom. The units are known as 1/2 Abbots Lodge or 28/28A St. Dunstans Street, providing the following accommodation and dimensions:
Ground Floor: 103 sq m (1,108 sq ft)
Two showrooms, kitchen, two storage rooms and two wc`s

Tenancy:
The entire property is at present let to Simpaul Designs Ltd for a term of 5 Years from 23rd July 2025 at a current rent of £26,169.96 p.a. and the lease contains full repairing and insuring covenants. Rent review in July 2027 and 2029 open market upward only. Mutual option to determine in July 2028 with min 6 months notice.

Tenure:
Long leasehold. Held on a 125 Year lease from 1st May 2013 at a ground rent of peppercorn. Reversion 2138.

Location:
The attractive City of Canterbury is a major commercial, tourist and administrative centre and is located 55 miles south east of London. The City lies on the A2 which provides access to Dover to the south east and the M2 and in turn M25 to the north west. The A28 provides links to Margate to the north east and Ashford to the south west. The property is situated within short walk from Canterbury West train station, with occupiers nearby including Sainsbury`s Local, Cake Box, Pharmacy, Convenience Store, Takeaway`s and more.