Palace Street, Canterbury, Kent, CT1

Mixed-use investment opportunity!

Retail Premises:
The retail unit comprises an end-of-terrace property arranged over ground floor and basement levels, extending to approximately 65.5 sq m (706 sq ft).

The shop is predominantly rectangular in layout and benefits from a staff room, WC and kitchen area to the rear.

The retail premises are currently let on a 5 year Full Repairing and Insuring (FRI) lease commencing 15 March 2023, at a current rent of £16,000 per annum, subject to annual increases in line with CPI.

Flat One:
The larger of the two residential apartments, Flat 1 is arranged over three floors and provides well-proportioned accommodation.

The apartment comprises an en-suite bedroom, kitchen/dining room with views over Palace Street, and a separate living room overlooking Canterbury Cathedral.

The property is currently occupied under an Assured Shorthold Tenancy (AST) commencing 27 March 2025, producing a rental income of £1,200 per calendar month.

Flat Two:
Flat two has been sold on a 125-year lease, with the sale completing on 12 August 2022.

Parking Yard
To the rear is a parking yard, which is currently vacant. Please note that neighbouring properties, Nos. 4 and 5 Palace Street, have rights to pass over the yard.

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 Summary

The property is situated within the city of Canterbury, being within easy access of the High Street and all its amenities. These include an excellent modern shopping centre, the University of Kent, Canterbury Christ Church University and other colleges, together with an excellent choice of schools in both the public and private sectors. In addition to the High Street is the Kings Mile, which is a lovely mall of boutique style shops, cafes, eateries and public houses.

Sporting and recreational opportunities nearby include: golf at Scotland Hills, Canterbury, sailing at Whitstable Yacht Club and Herne Bay, county cricket at Canterbury and day trips to France via Eurotunnel, all within easy access. In addition, the Marlowe Theatre, the spectacular Beaney House of Art & Knowledge and the Gulbenkian (theatre, cinema and café bar) at the University of Kent, all provide a wealth of excellent entertainment in Canterbury.

Canterbury has two mainline railway stations, with Canterbury West offering the high speed service to London (St Pancras 56 mins). The property is also within easy access of the A2 dual carriageway, which in turn links to the Channel Port of Dover and Brenley Corner at Faversham, adjoining the M2 / A299 (Thanet Way) linking London and the coastal towns respectively. Ashford International (15.4 miles, London St Pancras 38 mins).