74-80 & 82-84 High Street Deal Kent CT14 6EQ

74-80 & 82-84 High Street
Deal
Kent
CT14 6EQ

Freehold Retail Investment

Let to The Factory Shop Limited
Prominent Town Centre corner position
Residential Redevelopment Potential (subject to consents)
RPI Linked Rent Review
Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
95
Auction
13th October 2016
Rent
£113,800 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Freehold Retail Investment

Let to The Factory Shop Limited
Prominent Town Centre corner position
Residential Redevelopment Potential (subject to consents)
RPI Linked Rent Review
Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 95
Auction 13th October 2016
Rent £113,800 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 70 miles south-east of London, 19 miles south-east of Canterbury, 29 miles east of Ashford
Roads: A2, A20, A256
Rail: Deal Railway Station
Air: London Gatwick Airport

Situation

Deal is a popular town in Kent benefiting from Southeastern's high speed railway line which connects Deal with Ashford International and London St Pancras. The property is situated in a prominent corner position on the east side of High Street, at its junction with Market Street. Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith.

Tenure

Freehold.

Location

Miles: 70 miles south-east of London, 19 miles south-east of Canterbury, 29 miles east of Ashford
Roads: A2, A20, A256
Rail: Deal Railway Station
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial corner property comprising 5 buildings fronting High Street and a further two buildings fronting Market Street. The property currently forms a large department store and a self-contained retail unit with ancillary accommodation on the first and second floors. The property may benefit from future residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
74-80	Ground First Second	693.96 sq m 578.09 sq m 119.66 sq m	(7,470 sq ft) (6,223 sq ft) (1,288 sq ft)	THE FACTORY SHOP LIMITED (1)	15 years from 16/10/2008 on a full repairing and insuring lease	£103,800	16/10/2018 (2) (15/10/2023)
82-84	Ground First Second	54.30 sq m 29.00 sq m 38.80 sq m	(584 sq ft) (312 sq ft) (417 sq ft)	SWANSTITCH LIMITED	5 years from 01/02/2015 on a full repairing and insuring lease	£10,000	(31/01/2020)
Totals		1,513.81 sq m	(16,294 sq ft)			£113,800

(1) For the year ending 29th March 2015, The Factory Shop Limited reported a turnover of £174,334,000, pre-tax profits of £7,855,000 and a total net worth of £44,438,000. (Source: www.riskdisk.com 06/09/2016).
(2) The lease provides for the 2018 rent review to be increased in line with the Retail Price Index. Please see lease for details.