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20-21 St Margarets St 8,161 SF 100% Leased Retail Building Canterbury CT1 2TH $2,404,967 ($294.69/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Substantial, freehold property, located in the historic cathedral city of Canterbury.
- Canterbury West Train Station - High-speed rail services to London St Pancras (56 minutes).
- The City also benefits from approximately 6.3 million visitors per year.
EXECUTIVE SUMMARY
The proposed transaction structure, a sale and leaseback, means the sale cannot be treated as a transfer of a going concern (TOGC) therefore VAT will be payable on the
purchase price.
The property will be leased entirely to Loungers UK Limited on a Fully Repairing and Insuring (FR&I) lease for a term of 15 years. The lease is subject to Five yearly upward only, open market rent reviews. The current rent passing is £120,000 per annum.
purchase price.
The property will be leased entirely to Loungers UK Limited on a Fully Repairing and Insuring (FR&I) lease for a term of 15 years. The lease is subject to Five yearly upward only, open market rent reviews. The current rent passing is £120,000 per annum.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
8,161 SF
Building Class
B
Year Built
1890
Price
$2,404,967
Price Per SF
$294.69
Cap Rate
6.65%
NOI
$159,887
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.34
Lot Size
0.08 AC
AMENITIES
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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20-21 St Margarets St
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