Description
** UNDER OFFER **
Diversified multi-let South East industrial investment with asset management upside, adjacent to Canterbury's largest residential development project.
ESTATE OVERVIEW
* Floor area - 123,317 sq. ft.
* No of units - 55 (90.3% occupancy rate)
* No. of tenants - 35
* Contracted rent - £706,250 per annum (£5.73 per sq. ft.)
* Unit sizes - 453 - 18,948 sq. ft. (GIA)
* WAULTC - 3 years
* Site - 8.29 acres (3.35 hectares)
* Tenure - Freehold
INVESTMENT SUMMARY
* Opportunity to acquire a substantial multi-let industrial estate extending to 123,317 sq ft across 55 units, providing critical mass in an established and supply-constrained South East industrial location.
* Let to 35 tenants, generating a highly diversified income stream with the largest occupier accounting for only 8.2% of contracted income.
* The property produces a low average passing rent of just £5.73 per sq ft, offering significant reversionary potential, with recent lettings on the estate achieving rents of up to £10.98 per sq ft.
* Attractive WAULTC of 3.0 years, with approximately 85.4% of income subject to lease expiry or rent review within the next three years, providing multiple opportunities to capture rental growth and enhance income.
* Highly occupied, with just 9.7% vacancy, offering immediate asset management opportunities through the letting of vacant accommodation, lease regears, refurbishment initiatives and ESG-led improvements.
* Positioned to benefit from the South Canterbury Development, including the proposed new A2 junction and wider infrastructure improvements, which are expected to enhance connectivity and strengthen occupier demand.
OCCUPATIONAL MARKET COMMENTARY
The Canterbury industrial market has historically been characterised by constrained supply and relatively modest occupational demand. However, the city's connectivity has improved significantly following the introduction of High Speed 1 services, strengthening Canterbury's appeal as both a commuter destination and business location. Combined with continued economic activity generated by the Port of Dover and wider Channel trade routes, this has contributed to robust
occupational demand across the local industrial market.
Industrial accommodation within Canterbury remains tightly supplied, with very limited speculative development delivered in recent years. Consequently, established multi-let estates continue to benefit from strong occupancy levels and an increasingly constrained supply environment.
Recent leasing evidence highlights the strength of rental values across the wider East Kent market. At Broad Oak Business Park, Canterbury, a new development of seven units totalling 15,482 sq ft is quoting rents of up to £17.15 per sq ft.
SOUTH CANTERBURY MASTERPLAN
* Barton Business Park is strategically positioned at the heart of the consented South Canterbury Development, one of the largest mixed-use growth projects in the South East and a major expansion area for Canterbury.
* South Canterbury has consent for up to 4,000 new homes, alongside employment space, schools, healthcare facilities, retail provision and significant infrastructure investment, driving long-term economic and population growth.
* Planning and enabling works are underway, with construction scheduled to commence in January 2027.
* The development includes a new A2 junction and major highway improvements, enhancing access from New Dover Road and strengthening connectivity across one of Kent's key growth corridors.
* The Masterplan also provides major public transport upgrades, including a new 4km rapid bus route and a 300-space expansion of the existing Park & Ride facility, further improving accessibility to Barton Business Park.
* As the established employment location adjoining the development, Barton Business Park is well positioned to benefit from increased business activity, a larger labour pool and enhanced connectivity, supporting future occupational demand and rental growth.
* Link to Planning Portal: CA//16/00600
** UNDER OFFER **
Location
Canterbury is a historic cathedral city located in the county of Kent, in the southeast of England, with a population of 60,000. The city benefits from strong transport connectivity, with two main railway stations, Canterbury West and Canterbury East, providing regular services to London, with journey times of under one hour. Road access is provided via the A2, which links London to Dover, while regular bus services connect Canterbury to surrounding towns including Whitstable and Herne Bay.
The property is located off New Dover Road (A2050), 1.25 miles south-east of Canterbury city centre, within an established commercial area. Access is provided via Appledown Way, which runs along the southern boundary before turning west into the site; this access road is private and does not form part of the property. The surrounding area is predominantly rural in character, with the site bordered by open farmland.
TRAVEL DISTANCE/DRIVE TIME
Motorway:-
A2 - 0.5 miles/2 mins
A28 - 1.2 miles/5 mins
A257 - 2.o miles/6 mins
M2 (J7) - 14 miles/20 mins
Rail:
Canterbury East - 1.3 miles/5 mins
Canterbury West - 1.7 miles/7 mins
Bekesbourne - 2.o miles/6 mins
Sturry - 2.8 miles/8 mins
Airports:-
Souithend - 48 miles/1 hr, 15 mins
Gatwick - 67 miles/1 hr, 20 mins
London City - 63 miles/1 hr, 25 mins
Heathrow - 96 miles/1 hr, 45 mins
Ferry/Tunnel Terminals:-
Dover - 15 miles/25 mins
Eurotunnel, Folkestone - 17.6 miles/30 mins
Sheerness - 37 miles/50 mins
Tilbury - 58 miles/1 hr, 20 mins
VAT
Blocks 15, 18, 20, 21 & 22 have been elected for VAT and we anticipate these units will be treated as a Transfer of Going Concern.
Anti-Money Laundering
In accordance with HMRC Anti Money Laundering legislation, we are obliged to undertake full identity verification checks of all purchasers. In the event that an offer is made and accepted on the property, interested parties should be aware that we will require such ID verification before solicitors are instructed to proceed with a transaction.
Service Charge
The service charge budget for the year to April 2027 is £113,000 which equates to approximately £0.75 per sq.ft.
Legal Costs
Each party to bear their own legal costs
Energy Performance Certificate
Available upon request.
Viewing
For further information or to arrange a viewing please do not hesitate to contact:-
WATSON DAY
Tel:
SAVILLS
