Lot 31: FREEHOLD HIGH VALUE COMMERCIAL INVESTMENT WITH FURTHER FUTURE POTENTIAL IN PRIME CITY CENTRE LOCATION

Guide Price £1,890,000 – £1,920,000 * + Fees
8-9 The Parade, Canterbury, Kent. CT1 2SG

Currently let at £235,000 per annum

Viewing by arrangement with Clive Emson Auctioneers

01622 608400

John Stockey/Kevin Gilbert

A substantial premises, being Grade II Listed, occupying a prime location on the corner of The Parade and St Margaret’s Street at the centre of the City of Canterbury, with busy footfalls passing on both frontages. Located within a short walking distance, via Mercery Lane, to both Burgate and Christchurch Gate entrance to the Cathedral and grounds.

A substantial proportion of the property on the ground and first floor is occupied under three commercial leases by three national retail outlets.

There are surplus areas of the upper floors which falls outside of the leases and may offer future possibility to re-organise the accommodation to enable conversion of the upper parts to residential units, subject to all necessary consents being obtainable.

Interested applicants are advised to make their own enquiries with the Local Planning Authority, Canterbury City Council. Tel: 01227 862178. Website: canterbury.gov.uk.

Auctioneer’s Note 1

There is extensive surplus accommodation situated on the second floor with further accommodation on the third floor, which is not included within the commercial leases. However, access to these upper parts is not available other than through the areas of the building currently let, such as Unit 2.

Auctioneer’s Note 2

All the accommodation measurements have been taken from the Business Rates Valuation assessments.

Further information is available from the VOA website, www.gov.uk/check-your-business-rates.

Unit 1

Ground Floor

Retail area extending to 47.1 sq.m. (507 sq.ft.). Office extending to 3.3 sq.m. (35 sq.ft.) and kitchen.

First Floor

Two rooms extending to 119.4 sq.m. (1,285 sq.ft.).

Tenancy

Currently trading as The Flight Centre and let under the terms of a five year commercial lease from 14th August 2018 at a current rental of £60,000 per annum.

Unit 2

Ground Floor

Retail Zone A measuring 37.7 sq.m. (405 sq.ft.). Retail Zone B extending to 36.5 sq.m. (393 sq.ft.). Retail Zone C measuring 7.1 sq.m. (76.4 sq.ft.).

First Floor

Storage area extending to 34.9 sq.m. (375 sq.ft) and staff room.

Tenancy

Currently trading as Hotel Chocolat and let on a 15 year commercial lease from 9th October 2006 at a current rental of £135,000 per annum.

Unit 3

Ground Floor

Retail Zone A measuring 28.6 sq.m. (308 sq.ft.). Retail Zone B extending to 28.7 sq.m. (309 sq.ft.). Retail Zone C measuring 22.8 sq.m. (245 sq.ft.). Internal storage.

First Floor

Staff room and W.C.

Second Floor

Storage.

Tenancy

Currently trading as Between the Lines and let on ten year commercial lease from 19th October 2010 at a current rental of £40,000 per annum.

Commercial EPC: D

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