December 2021: Wednesday 15 December 2021 - 9:00am
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    Key features

    • Investment Let at £75,000 p.a.
    • Let on a 15 year lease from May 2015 (approx. 8.5 years unexpired)
    • FR&I lease
    • Located on a prime pitch on Canterbury High Street
    • Future development potential to develop the upper floors (subject to the requisite consents)
    • VAT applicable

    Description

    The property is a Grade II* Listed building of brick construction with tiled and rendered elevations under a tiled roof with a flat roof to the rear.

    The property comprises a ground floor shop with first floor sales and staff/ storage on the second floor. The third floor is unused.

    The property is located in arguably the finest retailing pitch in Canterbury city centre and surrounded by prominent national retailers and banks including Pret A Manger, Hotel Chocolat, Lush, Costa Coffee, l'Occitane, Lloyds Bank and Nationwide as a well as a range of established independent retailers.

    Kaspa’s (https://kaspas.co.uk/) are a fast-growing international chain of dessert houses that sell a wide range of hot and cold desserts including ice cream sundaes, cakes, waffles and crepes as well as hot drinks, smoothies and milkshakes.

    Kaspa’s trade throughout the UK from approximately 80 branches with a number more timetabled to open shortly

    Additional information

    Tenure

    Freehold


    The property has communal fire escape rights along a passageway to the left hand facing side of the building and there are also rights of escape from 8 Mercery Lane through a door at first floor to the same exit point.


    The property is historic in nature and has a flying freehold. The basement and part of the ground floor (1 High Street) are not included in title.

    Flying freehold indemnity insurance has been obtained by the seller.


    Accommodation

    Ground Floor Sales - 714 sq ft (66.33 sq m)

    1st Floor Sales - 1,096 sq ft (101.82 sq m)

    2nd Floor Staff/Stock - 997 sq ft (92.62 sq m)

    3rd Floor (unused) - 227 sq ft (25.73 sq m)


    Total NIA 3,084 sq ft (286.50 sq m)


    Tenancy

    Ground and 3 upper floors - Trading as Kaspa's

    • Let to Kaspa's Desserts Ltd (Guaranteed by Goldex Investments Ltd) on a 15 year lease from 13th May 2015
    • Full Repairing and Insuring lease
    • Rent review 13th May 2025
    • Tenant option to break on the 13th May 2025 subject to a 6 month written notice
    • Investment let at £75,000 p.a.

    Rent

    £75,000 p.a.

    Notes

    Please note the site areas provided are approximate. The photos and red line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. Prospective purchasers must rely upon their own enquiries in this regard.


    Joint Auctioneer

    Jeremy Lovell  

    HRH Retail

    D 020 7908 7037

    T 020 7499 5399

    M 07949 619657

    E jeremy@hrhretail.com



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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on north side of High Street and at the junction of Mercury Lane and High Street.

      Canterbury is a Cathedral City located in Kent. The property is situated in the bustling city centre and offers three key criteria popular with investors. First it is a growing University city, secondly it is one of the country’s most important tourist destinations and thirdly it has an affluent surrounding population. 

      Canterbury East Station is located approximately 0.5 miles from the property

      Canterbury West Station is located approximately 0.5 miles from the property

      Transport

      Canterbury East Station - South Eastern services to London Victoria and Dover

      Canterbury West Station - South Eastern services to London Victoria and St Pancras and Ashford International

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums