Costcutter, 166/168 Canterbury Road Westbrook Margate Kent CT9 5JW

Costcutter, 166/168 Canterbury Road
Westbrook
Margate
Kent
CT9 5JW

High Yielding Freehold Convenience Store Investment

Majority let to Costcutter Supermarkets Group Limited
Lease expires September 2027
Large double fronted convenience store - approx. 224.30 sq m (2,414 sq ft)
Includes Post Office
Prominent position on Canterbury Road (A28)

Lot
4
Auction
27th March 2025
Rent
£28,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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High Yielding Freehold Convenience Store Investment

Majority let to Costcutter Supermarkets Group Limited
Lease expires September 2027
Large double fronted convenience store - approx. 224.30 sq m (2,414 sq ft)
Includes Post Office
Prominent position on Canterbury Road (A28)

Lot 4
Auction 27th March 2025
Rent £28,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 13 miles north east of Canterbury
Roads: M20, A2,
Rail: Margate Railway Station, Westgate-on-Sea Railway Station
Air: London Gatwick Airport

Situation

The property is situated on the north side of Canterbury Road (A28), the main arterial route between Margate and Canterbury. The property is located in a predominantly residential area with nearby occupiers including M&S Simply Food and BP petrol filling station and a number of independent retailers and restaurants.

Tenure

Freehold.

Location

Miles: 13 miles north east of Canterbury
Roads: M20, A2,
Rail: Margate Railway Station, Westgate-on-Sea Railway Station
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a large double fronted convenience store arranged on the ground floor, with residential accommodation on the first floor, let on 2 long leases. The property includes a yard area to the rear providing customer parking for approximately 12 cars and servicing.

VAT

VAT is applicable to this lot.

EPC

C70 (Retail)

Description

VAT

VAT is applicable to this lot.

EPC

C70 (Retail)

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.
Ground	Convenience Store	224.30	(2,414)	COSTCUTTER SUPERMARKETS GROUP LIMITED (2)	30 years from 28/09/1997 until 27/09/2027	£28,000
First	Residential	-	-	INDIVIDUAL	80 years from 09/08/1984	Peppercorn
First	Residential	-	-	INDIVIDUAL	80 years from 30/10/1984	Peppercorn
Total Approximate Commercial Floor Area		224.30	(2,414)			£28,000

(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(2) For the year ending 30/06/2023 Costcutter Supermarkets Group Limited reported a Turnover of £455,052,000 and a Pre-Tax Profit of £12,148,000. The property has been sublet to a franchisee until June 2027.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.