71 Sturry Rd | Canterbury CT1 1BU
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71 Sturry Rd
Canterbury CT1 1BU
Retail Property For Sale
Executive Summary
The property comprises an end of terrace building, having brick elevations and a pitched tiled roof. It is arranged as a ground floor shop/hot food takeaway with a separate flat on the upper floors, arranged as follows;
Ground Floor Shop.
The shop is arranged with a serving counter at the front and a kitchen and food preparation and stores area beyond.
Maisonette.
The Maisonette is accessed from a separate entrance reached by stairs at the rear of the shop. The first floor is arranged as a large open plan sitting room & kitchen, with 3 bedrooms and a bathroom. There is a further bedroom in the attic/second floor. The flat has PVC double glazed windows, laminate flooring and gas central heating.
Externally, the property has a rear garden with a basic single storey lock-up store.
The freehold interest in the property is available for sale subject to the tenancy described.
Our clients are seeking offers in excess of £310,000, reflecting a Net Initial Yield of 5.7%, with scope to rise to 7.00% at the rent review.
The whole property is let on a Full Repairing and Insuring for a term of 20 years (without break) from June 2008 at a rent of £18,000 per annum. It was let originally to Poseidon Outlets Limited (company no. 06496314) but was assigned to Rachpal Singh in 2017. There is also a rent deposit of £8,025.
Ground Floor Shop.
The shop is arranged with a serving counter at the front and a kitchen and food preparation and stores area beyond.
Maisonette.
The Maisonette is accessed from a separate entrance reached by stairs at the rear of the shop. The first floor is arranged as a large open plan sitting room & kitchen, with 3 bedrooms and a bathroom. There is a further bedroom in the attic/second floor. The flat has PVC double glazed windows, laminate flooring and gas central heating.
Externally, the property has a rear garden with a basic single storey lock-up store.
The freehold interest in the property is available for sale subject to the tenancy described.
Our clients are seeking offers in excess of £310,000, reflecting a Net Initial Yield of 5.7%, with scope to rise to 7.00% at the rent review.
The whole property is let on a Full Repairing and Insuring for a term of 20 years (without break) from June 2008 at a rent of £18,000 per annum. It was let originally to Poseidon Outlets Limited (company no. 06496314) but was assigned to Rachpal Singh in 2017. There is also a rent deposit of £8,025.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,179 SF
Building Class
B
Year Built
1900
Price
$392,942
Price Per SF
$333
Cap Rate
5.70%
NOI
$22,398
Tenancy
Single
Building Height
3 Stories
Parking
2 Spaces (1.69 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Storage Space
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