24 High Street Canterbury Kent CT1 2AY

24 High Street
Canterbury
Kent
CT1 2AY

Prime Freehold Restaurant Investment

Busy pedestrianised city centre location
Let to Azzurri Restaurants Limited (formerly Ask Restaurants) on a lease expiring 2031 (no breaks)
Near to The Marlowe Theatre and Canterbury Cathedral
Close to the historic Kings Bridge and Weavers Buildings

Lot
7
Auction
24th October 2019
Rent
£96,750 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Important Update Interested?

Expand
Photos
Map

Prime Freehold Restaurant Investment

Busy pedestrianised city centre location
Let to Azzurri Restaurants Limited (formerly Ask Restaurants) on a lease expiring 2031 (no breaks)
Near to The Marlowe Theatre and Canterbury Cathedral
Close to the historic Kings Bridge and Weavers Buildings

Lot 7
Auction 24th October 2019
Rent £96,750 per Annum Exclusive
Status Sold Post
Price
Sector
Restaurant
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 14 miles north-east of Ashford; 62 miles south-east of Central London
Roads: A2, A28, A299, M2, M20
Rail: Canterbury East Railway Station (approx 80 minutes to London St Pancras International)
Air: Gatwick Airport

Situation

The property is situated in an excellent trading location on the north side of High Street, close to its junction with Best Lane in the heart of the city centre. The property is 250 metres south of Canterbury Cathedral, 100 metres south of The Marlowe, a 1,000-seat theatre, and 300 metres north-west of the Whitefriars Shopping Centre, which houses retailers including Marks & Spencer, Boots, Costa, Greggs, HSBC, KFC and Metro Bank. Other nearby occupiers include Zizzi, Pizza Express, West Cornwall Pasty Company and Prezzo.

Tenure

Freehold.

Location

Miles: 14 miles north-east of Ashford; 62 miles south-east of Central London
Roads: A2, A28, A299, M2, M20
Rail: Canterbury East Railway Station (approx 80 minutes to London St Pancras International)
Air: Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a restaurant arranged over basement, ground, first and second floors. The ground floor provides a restaurant (60 covers), bar and kitchen. The basement a restaurant (50 covers) and bar. The first floor restaurant (48 covers) together with WC, storage and a kitchen. The second floor comprises office, storage and staff accommodation. There is further seating externally to the front and rear of the property together with access to the adjoining Great Stour river.

VAT

VAT is applicable to this lot.

EPC

See legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement First Second External Seating	Restaurant & Ancillary Restaurant & Ancillary Restaurant & Ancillary Ancillary	103.50 sq m 71.60 sq m 94.1 sq m 40 sq m 57.10 sq m	(1,117 sq ft) (771 sq ft) (1,013 sq ft) (430 sq ft) (615 sq ft)	AZZURRI RESTAURANTS LIMITED (formerly Ask Restaurants Limited) (1)	15 years from 20/05/2016 until 19/05/2031 on a full repairing and insuring lease (2)	£96,750	2021 and 5 yearly
Total		366.30 sq m	(3,946 sq ft)			£96,750

(1) For the year ended 1st July 2018, Azzurri Restaurants Limited reported a turnover of £260,264,000, pre-tax profits of £11,227,000 and a net worth of £88,676,000 (Source : Experian 10/09/2019). Ask trades from 111 restaurants nationwide (Source: www.askitalian.co.uk).
(2) The previous lease was for a term of 20 years from 1996.