Canterbury Town Centre Mixed Use Investment With Residential Development Opportunity | Passing £12,200p.a. From Retail & Ground Lease |
Summary
- • Freehold mixed-use investment in the heart of historic Canterbury
- Ground floor shop let at £12,000 p.a. on a new 10-year FRI lease to May 2036 with no breaks
- Vacant self-contained 1-bed flat at first floor providing immediate asset-management upside
- • Additional £200 p.a. ground rent from the long-leasehold second-floor flat
- • VAT Free Investment
- • Total current income £12,200p.a. plus vacant residential uplift
- • Price £225,000
Accommodation
The accommodation comprises the following areas:
| Name | Floor/Unit | Description | Building Type | Size | sq ft | sq m | Tenure | Rent | Price | Rates Payable | Service charge | Total /sq ft | Monthly Rent | Total month | Total year | Fitout Concept | Availability |
| Ground - Retail | Ground | Retail | Convenience Store | 357 sq ft | 357 | 33.17 | For Sale | - | - | On Application | On Application | - | - | - | - | - | Available |
| 1st - 1 Bed Flat | 1st | 1 Bed Flat | Residential | 436 sq ft | 436 | 40.51 | For Sale | - | - | On Application | On Application | - | - | - | - | - | Available |
| Total | 793 | 73.68 | 0 |
Location
Canterbury is one of England’s most attractive and economically resilient historic cities, lying approximately 60 miles south-east of London. It functions as a major commercial, tourist, administrative and educational centre within Kent. The city benefits from dual carriageway access via the A2 (linking Dover to the south-east and the M2/M25 to the north-west) and excellent rail connectivity from Canterbury East and West stations, with frequent high-speed and conventional services to London Victoria, Charing Cross and St Pancras International.
The property occupies a prominent position on the north side of Northgate, close to its junction with Broad Street, in an established mixed commercial and residential thoroughfare. Surrounding occupiers comprise a range of local independent retailers and service operators, supported by the city’s strong tourist footfall (centred on the UNESCO World Heritage Cathedral) and a substantial student population drawn from the University of Kent and Canterbury Christ Church University.
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Mainline Stations
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Canterbury West7 mins
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Canterbury East13 mins
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Sturry41 mins
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Bekesbourne53 mins
Underground Station
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Chafford Hundred716 mins
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Ockendon733 mins
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Purfleet753 mins
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Shenfield780 mins
Further Information
Price £225,000
Rates Payable Upon Enquiry
Description
The freehold comprises a traditional three-storey terraced building providing a ground-floor retail unit of approximately 33.2sq m (357sq ft) currently trading as Northgate Mini Market, a vacant self-contained one-bedroom flat at first floor of approximately 40.5sq m (436sq ft), and a second-floor flat of approximately 80sq m (861sq ft) sold off on a long lease. Total accommodation extends to approximately 153.7 sq m (1,654sq ft), inclusive of the sold-off upper flat.
Access to the residential accommodation is via a private rear entrance from Kings Mews. The first-floor flat is presented in a condition that offers clear scope for refurbishment and reletting or sale. There is a noted flying freehold element where the second-floor accommodation overlaps the floors below.
Investment Summary
The ground-floor shop is let to an individual trading as Northgate Mini Market (Northgate Mini Market Canterbury Ltd) on a new 10-year full repairing and insuring lease from 29 May 2026. The lease is contracted out of the Landlord and Tenant Act 1954 and contains five-yearly upward-only rent reviews, the first falling due on 29 May 2031. The tenant operates a single local convenience store from the premises. Combined with the £200 p.a. ground rent receivable from the long-leasehold second-floor flat (125 years from June 2016), the property currently produces £12,200 per annum, with the additional benefit of a vacant one-bedroom flat ready for asset management.
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