The property comprises the ground floor and basement of an attractive period building.
It is arranged to provide an open sales area at the front with ancillary sales/stores and a WC to the rear, leading to a small enclosed courtyard. There are further stores in the basement.
The freehold interest in the property is available for sale subject to the tenancy described.
Our clients are seeking offers in excess of £195,000, reflecting a Net Initial Yield of 7.00%.
The property is let on an effective Full Repairing and Insuring lease to The Trustees of the RSPCA Canterbury & District Branch for 5 years (without breaks) from March 2020. The tenant has negotiated a three-month rent-free period from lease commencement.
The rent is £14,400 per annum payable quarterly in advance.
The Canterbury & District Branch of the RSPCA (charity no. 210743) is part of the UK’s largest animal welfare charity. They have occupied the premises since 2013 and trade from 8 further shops in the district.
According to accounts for the year to 31 December 2018, the branch generated income of £526,761 and had total unrestricted funds of £1,372,095.
Further lease details can be provided by the agents.
Please see the attached particulars for further information.
Offers Over £195,000
1514 square feet