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 Available
Guide* £275,000
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
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.
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
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)
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review
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.
