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£725,000

Maidstone, Kent

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Property FEATURES

  • Town Centre Retail Investment
  • £725,000
  • 7.75% net initial yield
  • 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.
  • 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
  • £725,000 for the freehold showing a net initial yield of 7.75% taking purchasers costs at 5.05%
  • 99: £14,500
  • 100: £21,500
  • We understand the property is not elected for VAT however parties should make their own enquiries in this regard

Property 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

£725,000 for the freehold showing a net initial yield of 7.75% taking purchasers costs at 5.05%

Town Centre Retail Investment

£725,000

7.75% net initial yield

Property LOCATION

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