Retail Investment For Sale Currently Producing £19,300
For sale - offers in excess of £225,000 1,347 Sq Ft (125.14 Sq M)
95, 95A & 95B High Street, Sheerness, Kent, ME12 1TX
UNDER OFFER
Property description
This Grade II listed property comprises two adjoined ground floor retail units (one is currently trading as Sheerness Kebab House and the other is a general store) and a first floor maisonette. There is parking to the rear for a number of cars accessed from Wood Street. Part of the property is let on a lease producing a current income of £11,800 per annum.The other retail unit is trading as a general store producing a current income of £7,500 per annum.
Location
The property is situated on the northern side of the High Street of Sheerness in an area of mixed regional multiple and local tenants. Other multiple retailers in the vicinity include New Look, Peacocks, Co-op and Iceland. Interspersed with these are a number of local traders such as cafes, hairdressers, tattoo shops and vape shops.This is a busy location in the centre of the High Street with considerable passing pedestrian traffic and on street parking, as well as a municipal pay and display car park to the rear.Sheerness is situated on the Isle of Sheppey, which has access to the mainland via the A249 providing access to Sittingbourne, the M2, the M20 and Maidstone.
Accommodation
All areas are approximate and net internal:95 High Street (Sheerness Kebab House):Ground Floor Retail Area:.............275 sq ft...................(25.55 sq m)Rear Prep Area:..............................117 sq ft...................(10.84 sq m)95b High Street (First Floor):Mid Room:........................................60 sq ft........................(5.6 sq m)Back Room:.....................................134 sq ft...................(12.48 sq m)Kitchen............................................121 sq ft...................(11.23 sq m)Front Room 1:................................164 sq ft.....................(15.2 sq m)Front Room 2:................................139 sq ft...................(12.96 sq m)Shower Room and WC95a High Street (General Store):Ground Floor Retail Area:............337 sq ft...................(31.34 sq m)Kitchen and WC facilities
Terms
To be sold as an investment sale with the current tenants on the following lease terms:Property: 95 & 95B High Street Tenant: Sheerness Kebab House Passing Rent: £11,800 per annum Term: 10 years from 16th April 2024 Rent Review: Every 3rd year Repair, Decoration & Insurance: virtual full repairing Property: 95A High Street Tenant: Private individual Passing rent: £7,500 per annum Term: 5 years from 1st July 2026 Repair, Decoration & Insurance: virtual full repairing
Price
Offers in excess of £225,000 for the freehold interest, subject to the existing leases and subject to contract.
Rateable Value
95 High Street:Description: Shop and PremisesRateable Value (2026): £7,40095A High Street:Description: Shop and PremisesRateable Value (2026): £7,200UBR in £ 43.2pPotential applicants are advised to check with the Local Rating Authority Swale Borough Council for the actual business rates payable.
Planning & Building Regulations
It is the responsibility of the purchaser or tenant to satisfy themselves that the intended use of the property complies with the relevant planning permission and building regulations in force at the time of the purchase or letting.
Legal Costs
Each party to be responsible for their own legal and other costs associated with the transaction.
All details are correct at the time of upload. For full terms and conditions, click here