Investment.

Canterbury.

1-11 Longmarket10-14 Butchery Lane45-47B Burgate and 14 Longmarket Court

Map View

Status.

Available

Price.

£7,350,000 (Subject to Contract and Exclusive VAT)

Location.

Canterbury is an attractive and historic cathedral city in the north east of Kent. Situated on the River Great Stour, the city lies circa 62 miles (100km) south east of London, 17 miles (27km) north west of Dover and 29 miles (47km) east of Maidstone. Faversham, the major travel hub of Ashford, the historic town of Sandwich and the popular coastal towns of Herne Bay, Whitstable, Margate and Ramsgate are all located nearby. 

Description.

The property comprises an island site occupying circa 0.7 acres and was redeveloped to its current configuration in 1992. The scheme provides circa 34,546 sq ft of retail and restaurant accommodation, across thirteen units.

The units are primarily arranged over ground and first floors, with three demises accessed from the first floor. Several units benefit from second floors, which are used for ancillary and stock purposes. There is a communal passenger lift which links the service corridor with the first floor.

The asset is of steel frame construction with a mixture of brick elevations and traditional tiled hung frontages and is housed under a number of pitched roofs. The property benefits from an internal service corridor that serves the ground floor units.

The ground floor units are let to De Montfort Fine Art, Las Iguanas, Cote, O2, Wagamama, Lazix, Toni & Guy, Pho, Happy & Glorious and Matches Sports Bar.

The first floor is known as Longmarket Court and is arranged around a large open area which provides outside seating for the centre. This area is used extensively by Las Iguanas, Lazix, Matches Sports Bar and Citi Terrace. The f rst floor is accessed by two wide stairways, located centrally within the Longmarket and Butchery Lane elevations.

The basement has been leased to Canterbury City Council on a long lease expiring 17/10/2142 at a peppercorn rent and operates as Canterbury Roman Museum. The site is known as a ‘Scheduled Ancient Monument’, is Grade 1 Listed and is now known to be one of the only remaining in situ Roman pavement mosaics in the UK.

Rent.

£705,338 per annum exclusive

Tenure.

Freehold

Yield.

A net initial yield of 9.00%,

Share.

All viewings are strictly by prior appointment.

Will Civil.

Surveyor | Investment

David Freeman.

Partner | Investment

Jonny Gooch.

Associate Partner | Investment

Ed Smith.

Partner | Investment

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