Overview
Description
Location
Description
The property comprises 2 adjoining Grade II listed retail investments fully tenanted on full repairing leases. The properties comprise retail space on the ground floor with ancillary accommodation on the upper floors which would have future development potential subject to obtaining necessary consent.
The tenants are Evapo Ltd and a long standing franchise of Snappy Snaps. See brochure for lease terms
Location
The property is located in one of the prime retail locations in Maidstone Town Centre. Situated on the crossroads of High Street, Week Street and Gabriels Hill and it occupies a prominent corner pitch and is a short walk from both The Mall Shopping Centre and Fremlin Walk prime retail areas. Neighbouring occupiers include Metro Bank, HSBC, Lush, Natwest, Starbucks, Claire's and Coral.
Accommodation
The approximate net internal areas are as shown below
99 High Street NIA 124.48 sq. m 1,340 sq. ft
100 High Street NIA 232.24 sq. m 2,500 sq. ft
EPC
99: C65 Expiring 15th November 2032
100: C73 Expiring 24th February 2025
Tenure Comments
Freehold subject to occupational leases
Rent/Price
£650,000 for the freehold showing a gross yield of 9.1% and net initial yield of 8.15% taking purchasers costs at 4.98%
Town Centre Retail Investment
£650,000
9.1% gross yield
Summary
Key points
- Town Centre Retail Investment
- £650,000
- 9.1% gross yield
Contact
Sibley Pares Chartered Surveyors
Tel: 01622 673086
Alex Stanford
alex.stanford@sibleypares.co.uk
www.sibleypares.co.uk
EPC
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