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Canterbury – South East City Centre Fully Let Class E Investment

6-20 Longmarket & 48-51 Burgate. Canterbury, CT1 2JS

Offers in excess of £3,000,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Long Leasehold
Net Initial Yield:
10.92%

Income

£348,880 p.a

Description

  • Located in the attractive and affluent Cathedral City of Canterbury
  • Prominent corner position with large frontages to Burgate and Longmarket
  • Fully let to the following national occupiers: The Secretary of State for Housing Communities and Local Government t/a Jobcentre Plus, Lakeland Limited and Slater Menswear
  • The Secretary of State for Housing Communities and Local Government have recently signed a new lease and account for 43% of the income
  • Unexpired lease term of 4.3 years to expiry (2.5 years to breaks)
  • Three retail units totalling approximately 26,839 sq ft
  • Total passing rent of £392,000 per annum. There is an 11% ground rent payable of rents received.
  • Total net rent of £348,880 per annum
  • Long leasehold from Canterbury City Council
  • The tenants have a good payment history both pre- and during the pandemic and there are no rental arrears