86 ST DUNSTAN’S STREET
CANTERBURY CT2 8AD
INVESTMENT SUMMARY
•
The ancient City of Canterbury is the ecclesiastical capital of England and thus a major
tourist destination. The City also acts as the commercial and administrative centre for
east Kent being located approximately 16 miles to the north west of Dover, 15 miles west
of Broadstairs and Margate and approximately 60 miles to the south east of London
•
The property comprises a period style property approximately 200 years old forming a
corner four storey building. The ground floor provides mainly for a shop unit and the
basement and two upper floors provide staff and storage areas. The total floor area is
1,216 sq ft (113.4 sq m).
•
Tenant:
•
Total Current Income of £16,500 per annum exclusive.
•
A Net Initial Yield of 6%
Nicolas (UK)) Limited
Further Information
For further information please contact
Jonathan Thomas
Liggins Thomas
Orchard House
Hopcraft Lane
Deddington
Banbury OX15 0TD
Tel:
01869 337999
Fax: 01869 337922
E-mail: [email protected]
86 ST DUNSTAN’S STREET
CANTERBURY CT2 8AD
LOCATION
The ancient City of Canterbury is the Ecclesiastical capital of England and
thus a major tourist destination. The City acts as the commercial and
administrative centre for East Kent. The City is located approximately 16
miles to the north west of Dover, 15 miles west of Broadstairs and
Margate approximately 60 miles to the south east of London.
Canterbury benefits from excellent road communications lying, as it does,
on the A2 which provides a direct dual carriageway route to the M2
approximately 7 miles to the west and therefore connects to the M25. The
M2 also provides easy access via the A249 to the M20 and thus the M26
and the southern part of the M25. To the south east, the A2 also provides
easy access to the port of Dover.
Canterbury is served by two national railway stations, Canterbury West
station provides regular services to London Charing Cross with a fastest
travel time of approximately 1 hour 25 minutes. Canterbury East mainline
station provides regular services to London Victoria with a fastest travel
time of approximately 1 hour 25 minutes. Canterbury has a population of
approximately 37,000 although the catchment population is estimated to
be 140,000. This number is however substantially increased throughout
the year by a large number of tourists both from within the UK and abroad.
The subject property occupies a prominent corner pitch at the junction of
St Dunstan’s Street and Linden Grove. The town centre and prime retail
location is situated a short distance to the south west of the property but
most streets are pedestrianised.
DESCRIPTION
The subject property is a period style property of at least 200 years old
forming a corner four storey building arranged over basement, ground and
two upper floors. The ground floor provides mainly for a shop unit whilst
the basement and two upper floors provide staff and storage areas.
The property is constructed of red brick beneath a pitched clay tiled roof
incorporating timber fenestration to the upper floors. The ground floor
benefits from a timber framed retail frontage. On the Linden Grove
elevation of the property there is only one upper floor built in the same
style as the rest of the property.
To the rear of the property there is a lock-up store built inside of a garage
which is constructed of mainly breeze block walls which have been timber
clad beneath an asphalt sloping roof.
ACCOMMODATION
The property has been measured in accordance with the Royal Institution
of Chartered Surveyors (RICS) Code of Measuring Practice (Sixth Edition)
and we calculate the gross internal areas to be as follows:
Ground Floor Sales
First Floor
Second Floor
Basement
Rear Lock-up Store
585.5 sq ft
491.0 sq ft
210.0 sq ft
208.0 sq ft
186.0 sq ft
54.39 sq m
45.60 sq m
19.50 sq m
19.30 sq m
17.26 sq m
86 ST DUNSTAN’S STREET
CANTERBURY CT2 8AD
TENURE
Freehold.
TENANCY & INCOME
The property is let to Nicolas (UK) Limited by way of a 15 year lease from
28th June 2001 at a current rent passing of £16,500 per annum exclusive,
subject upward only rent reviews at five yearly intervals. The lease is
drawn on effective full repairing and insuring terms.
PROPOSAL
The vendors are seeking offers in the region of £275,000, which will
provide a Net Initial Yield of approximately 5.66% based upon usual
acquisition costs of 5.75%
SUBJECT TO CONTRACT
MARCH 2010
LIGGINS THOMAS LTD (AND THEIR JOINT AGENTS WHERE APPLICABLE) FOR THEMSELVES AND FOR THE VENDORS OR LESSORS OF THIS PROPERTY FOR WHOM THEY ACT, GIVE NOTICE THAT: 1. These particulars are provided merely as a general guide to the
property. They are not and shall not hereafter become part of any offer or contract; 2. Liggins Thomas Ltd cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and
prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; 3. No person in the employment of Liggins Thomas Ltd has any authority to make or give any representation or warranty whatever in
relation to this property; 4. Liggins Thomas Ltd will not be liable in negligence or otherwise for any loss arising from the use of these particulars. 5. No liability is accepted for any travelling or other expenses incurred by applicants in viewing properties that may have been let, sold or
withdraw
86 St. Dunstan's Street, Canterbury, Kent
o Crown ""PY'i8ht 2001. All
risbll ros<:lVCd L;concc Number 100020449.
Survey Scale -1:1250 Plot1cd Scale - 1:1250