Overview
Description
Tenure: Leasehold.
Key Features
- Comprising 3 shops (one including first floor) and vacant second floor offices
- Total accommodation extending to 607.50 sq m (6,539 sq ft)
- Part let to Starbucks Coffee Company
- Located on the pedestrianised St George’s Street opposite M&S
- Upper parts with potential for alternative use (subject to consent)
- VAT is applicable
Total Current Gross Rent Reserved£229,000 p.a
TENURE
Leasehold. Held on a lease from Canterbury City Council for 150 years from 20.12.2000 at a current ground rent of £32,060 per annum.
For the period from 01.01.2002 until expiry of 75 years from the Term Commencement the rent shall be the greater of 14% of Net Rents Received or £25,000 p.a.
For the period from the expiration of 75 years from the Term Commencement until expiration of the term the rent shall be the greater of 14% of Net Rents Received or £50,000 p.a.
LOCATION
- The attractive City of Canterbury is a major commercial, tourist and administrative centre 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
- Canterbury East and West Rail Stations provide frequent services to London (Victoria, Charing Cross and St Pancras International)
- The property is situated on the north side of the pedestrianised St George’s Street between Longmarket and Canterbury Lane
- Occupiers close by include Barclays Bank (adjacent), Marks & Spencer (opposite), EE, WH Smith, Warren James, McDonald’s, Greggs, O2, Cote Restaurant and Wagamama amongst many others
Additional Information
- The second floor is self-contained and accessed from the side of the property
PlanningThe upper parts may be suitable for alternative uses and redevelopment, subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with Canterbury City Council (www.canterbury.gov.uk)=”font-family:>
