Canterbury Retail Park, Sturry Road, Canterbury
70,398 sq ft
Description
UNDER OFFER
• Opportunity to acquire an established freehold Retail Park in Canterbury, with Blue-Chip Tenants and recently renewed leases.
• Located in Canterbury, a historic cathedral city and prestigious UNESCO World Heritage Site in northeast Kent. It is both a key regional retail centre and the county’s leading tourist destination.
• Situated 2.4km (1.5 Miles) northeast of Canterbury city centre, Canterbury Retail Park is on Sturry Road (A28) and within the city’s main retail warehousing location.
• An affluent population which is projected to see population growth 62% higher than the UK average between 2024 and 2029.
• Significant retail catchment of 365,000 people within a 20 mins drive.
• Large university population, almost five times higher than the Promis (200 Centres) average.
• Located opposite the city’s Park & Ride hub.
• Purpose built warehouse scheme fronting the busy A28 roundabout.
• Strong trading location, with the nearest Curry’s, Bensons and The Range over a 30 mins drive away in Broadstairs Retail Park.
• Surrounding anchor occupiers include M&S, Halfords, Sports Direct and TK Maxx.
• Comprising four retail warehouse units totalling 70,398 sq ft with 295-space car park, reflecting a strong ratio of 1:238 per sq ft.
• Fully let to Currys, Bensons for Beds and The Range, all leading national operators.
• Attractive WAULT of 8.00 years to expiry, and 5.54 to break.
• Total Passing rent of £976,500 per annum, reflecting a low average retail rent of £13.87 per sq ft overall.
• Site area of 5.36 acres (2.17 hectares), providing a low site coverage ratio of c.30%.
• Freehold.
We are instructed to seek offers in excess of £14,085,000 (Fourteen Million and Eighty Five Thousand Pounds) exclusive of VAT, for the freehold interest.
A purchase at this level reflects a net initial yield of 6.50% and a low capital value of £200 per sq ft assuming purchasers costs of 6.80%.
• Opportunity to acquire an established freehold Retail Park in Canterbury, with Blue-Chip Tenants and recently renewed leases.
• Located in Canterbury, a historic cathedral city and prestigious UNESCO World Heritage Site in northeast Kent. It is both a key regional retail centre and the county’s leading tourist destination.
• Situated 2.4km (1.5 Miles) northeast of Canterbury city centre, Canterbury Retail Park is on Sturry Road (A28) and within the city’s main retail warehousing location.
• An affluent population which is projected to see population growth 62% higher than the UK average between 2024 and 2029.
• Significant retail catchment of 365,000 people within a 20 mins drive.
• Large university population, almost five times higher than the Promis (200 Centres) average.
• Located opposite the city’s Park & Ride hub.
• Purpose built warehouse scheme fronting the busy A28 roundabout.
• Strong trading location, with the nearest Curry’s, Bensons and The Range over a 30 mins drive away in Broadstairs Retail Park.
• Surrounding anchor occupiers include M&S, Halfords, Sports Direct and TK Maxx.
• Comprising four retail warehouse units totalling 70,398 sq ft with 295-space car park, reflecting a strong ratio of 1:238 per sq ft.
• Fully let to Currys, Bensons for Beds and The Range, all leading national operators.
• Attractive WAULT of 8.00 years to expiry, and 5.54 to break.
• Total Passing rent of £976,500 per annum, reflecting a low average retail rent of £13.87 per sq ft overall.
• Site area of 5.36 acres (2.17 hectares), providing a low site coverage ratio of c.30%.
• Freehold.
We are instructed to seek offers in excess of £14,085,000 (Fourteen Million and Eighty Five Thousand Pounds) exclusive of VAT, for the freehold interest.
A purchase at this level reflects a net initial yield of 6.50% and a low capital value of £200 per sq ft assuming purchasers costs of 6.80%.
BUILDING HIGHLIGHTS
Freehold retail park
Purpose built warehouse scheme
Comprising four retail warehouse units
70,398 sq ft with 295 car parking spaces
