4
well secured, freehold, retail investment CANTERBURY: 34/34a HIGH STREET
CANTERBURY: 34/34a HIGH STREET
well secured, freehold, retail investment
CANTERBURY: 34/34a HIGH STREET
CANTERBURY: 34/34A HIGH STREET
LOCATIONCanterbury is one of the UK’s most historic cities and is located
100km (62 miles) south east of London, 47km (29 miles) east of
Maidstone and 27km (17 miles) north-west of Dover.
The city benefits from excellent road communications being located
adjacent to the A2/M2, the principal route between London and
Dover. In addition, the A28 connects Canterbury to Ashford and the
Channel Tunnel Rail Terminal 26km (16 miles) to the south east.
Canterbury has two main line train stations, East & West. Canterbury
is situated on the Channel Tunnel rail link providing domestic high
speed services into St Pancras with a journey time of 1 hour. This has
contributed to the city’s continuing development as a popular
commuter location and provides a crucial link for the surrounding
catchment population. Gatwick and Heathrow International Airports
are also accessible within 1 and 1.5 hours respectively providing
extensive national and international connections.
INVESTMENT SUMMARY
• Canterburyisthedominantretailingdestinationwithin
EastKent.
• ProminentpositionontheHighStreet,adjoining
Jones BootmakerandBon Marchéandopposite
Game, Sole TraderandBarclays.
• Wellsecuredtotwo strong covenantsin
Sportswift Limited (Card Factory)and
Done Brothers (Cash Betting) Ltd(Betfred).
• FreeholdpropertyinattractiveCatherdalCity.
• Weightedunexpiredleasetermofcirca8 years.
• Currentrent£197,500pax.
• £2,570,000(subjecttocontract&exclusiveofVAT).
• Attractive7.25% net initial yield.
CANTERBURY
DEMOGRAPHICS&LOCALECONOMYCanterbury is an important commercial centre and a major
employment provider within East Kent and environs. Experian
estimates that the city has a primary catchment of 455,000 persons
with an estimated shopping population of 209,000 persons.
Spending within Canterbury is boosted by tourism. The District
Council’s Tourism Marketing Plan for Canterbury (2010-2011)
estimates that there were some 2.8 million day visitors to the city
in 2008, generating an estimated spend of £258 million pa. The
city also boasts four universities (principally the University of
Kent and Canterbury Christ Church University) providing for a
predominantly young, dynamic population.
RETAILING IN CANTERBURYThe prime retailing pitch within Canterbury has traditionally been
St. George’s Street and the Parade although this has been
extended and now includes Whitefriars Shopping Centre. The
shopping centre incorporates Marlowe Arcade and accesses St
George Street and The Parade via Rose Lane and Whitefriars
Street. Retailers represented in the town include Marks & Spencer, Fenwick’s, Debenhams, Bhs, Zara, H&M, Top Shop, Hobbs and Cult Clothing.
CANTERBURY: 34/34a HIGH STREET
SITUATIONThe property occupies a busy retailing pitch just off the prime
retailing core on the south side of the High Street opposite
Game and Sole Trader as well as the Royal Museum and
Library. Debenhams, French Connection, Costa Coffee and
JD Sports are located nearby. The units have extensive
frontages onto the high street and adjoin both Jones Bootmaker and Bon Marché.
PROPERTYThe property was constructed in the 1960’s and provides two
ground floor retail units with two floors of ancillary
accommodation above.
The property has brick faced elevations under a flat roof with
single metal glazed window units. Servicing is at the rear via a
large enclosed and service yard area accessed from Stour Street.
ACCOMMODATIONThe property provides an approximate total net floor area of 421.17 m2 (4,534 sq ft) sub-divided as follows:
Tenant (t/a) Floor Use Area (sq m) Area (sq ft)
Sportswift (t/a Card Factory)
Ground Sales 117.49 1,265
Ground ITZA 58.19 626
First Ancillary 72.76 783
Second Ancillary 79.49 856
Total 269.74 2,904
Done Brothers (Cash Betting) Limited (t/a Betfred)
Ground Sales 116.13 1,250
Ground ITZA 59.93 645
Ground Ancillary 35.30 380
Total 151.43 1,630
TENUREFreehold.
TENANCIES34 High StreetSPORTSWIFT LIMITED (t/a Card Factory)10 years FR&I from 18th May 2009 (circa 7.66 years unexpired) expiring on 17th May 2019 at a current passing rental of £97,500 pax (£148 psf ZA) and an upward only rent review on 18th May 2014.
TENANT COVENANTS
Tenant (t/a) D&B Rating Date of Annual Accounts Turnover Pre-tax Proft/
Loss Net Worth
Sportswift Limited (t/a Card Factory) 5A1 31/01/2010 £209,453,000 £35,641,000 £47,896,000
Done Brothers (Cash Betting) Limited (t/a Betfred) 5A1 28/03/2010 £3,502,057,000 £358,000 £35,768,000
34a High StreetDONE BROTHERS (Cash Betting) LIMITED (t/a Betfred)20 years FR&I from 29th November 1999 expiring on 28th
November 2019 at a current passing rental of £100,000 pax (£152 psf ZA) with an outstanding upward only rent review on
29th November 2009 (circa 8.16 years unexpired).
CANTERBURY: 34/34A HIGH STREET
FURTHERDETAILS
David Freeman
020-7659-4830
James Baillie
020-7659-4839
Ed Smith
020-7659-4831
CURRENTINCOMEPAX£197,500 per annum exclusive.
VATThe property has been elected for VAT and thus VAT will
be payable on the purchase price.
PROPOSAL£2,570,000 (Subject to Contract and exclusive of VAT)
reflecting an attractive net initial yield of 7.25%, allowing for purchaser’s costs of 5.8% .
MISREPRESENTATION These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details. Neither the agents nor the vendors or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office. September 2011. Adrian Gates Photography & Design 07710 316991
WC
AZTEC
LLOYDS TSB
ABBEY
THORN
TONS
LOOKFANTASTIC
FRENCH
CONNECTION
NATIONWID
E
SHOE ZONE
CITY
BARBERS
CITÉ CREPES
SALON CHOCOLATE
YM
CAOXFAM
THE W
ORKS
JONES
PEPPERMINT
CITY ARMS INN
THE SALVATION ARMY
COSTA
CARGILL
S
STAR
BUCK
S
CAFFE
NERO
PRET
AMAN
GER
MBUTT
ERFLY
CANT
ERBU
RY
CATH
EDRA
L
CHROMOS
DEBE
NHAM
S
SHAKE SHED
SOLETR
ADER
CAFE MAURESQUE
JAM
ESPR
INGL
EW
EAVE
RS
TREDS
STEA
MER
TRAD
ING
COOK
SHOP
DEESONS
THE LINENSTORE
THE GOODFOOD CAFE
MARGERUMS OF CANTERBURY
CHERRY TREE
VIYE
LLA
CORN
ELLS
BOHO CAFE
NOA NOA
CAFE
CULT
URA
BARCLAYS
SUN HOTEL& TEA ROOMS
DEBENHAMS
FAT
FACE
MANOLISTAVERNA
SUBWAY
ECCO
VODAF
ONE
FIRST CHOIC
E
NASONS
JESSOPS
J E MS
TIMPSON
BLAC
KS
JAEG
ER
THE
OLD
BREW
ERY
TAVE
RN
ADEC
CO
SHAR
EDEA
RTH
SWEE
TDE
LIG
HT
CARDFA
CTORY
THOMAS COOK
GOODCHILDS
DEBENHAMS
BETFRED
THE
BONUSKIN
G
PAPERCHASE
PAST TIMES
TONI & GUY
CANT
ERBU
RYPA
WNB
ROKE
RS
FANCY THAT
OF LONDON
HAW
KINS
BAZA
AR
HOLLAND
& BARRETT
WAGAMAMATH
EED
INBU
RGH
WOO
LLEN
MIL
L
SKETCHLEY
CANTERBURY
CATHERDRAL SH
CAFEROUGE
CASE
YS
THE
CUBAN
ROYAL MUSEUM
PIZZA HUT
J DSP
ORTS
JIM GARRAHYS
FUDGE KITCHEN
OFFIC
E
GAME
PREZZO
KEW
TIERACK
TRAI
LFIN
DERS
BLOO
MSB
URY
CHELT
ENHAM
& GLOUCE
STER
STRADA
JUSTIN RICHARDSON
PILGRIMS
KENNEDYS
VISION
EXPRESS
SOLESOLUTION
BRADFORD& BIN
GLEY
SWAT
CH
T & BCOUSINS OFCANTERBURY
NAUT
ICAL
IA
BONMARCHE
WEST CORNWALL
PASTYCO
MICHAE
L CAINES
ATABO
DECANTE
RBURY
COUNTYHOTE
L
CANT
ERBU
RYPO
TTER
Y
THE
OLD
BUTT
ERM
ARKE
T
LITTL
EITA
LY MULTIYORK
SALO
NW
ONDER
A WPE
ARCE
CAFFE VENEZIAASK
CHAMBERSBINNEW
ITH
THE OLD
WEAVERS HOUSE
THIR
DEY
E
OLIVE GROVE
MARLOW
ES
THANET
BUSINESS
WORLD
SEVEN STARS
SIESTA
HOTE
L CHOC
OLAT
CHILDRENS SOCIETY
LEATHER FASHIONS
CULT
FLIG
HT CENTRE
BARKANDI
YORKSHIRE
PYBUSOPTICIANS
DYNAMIX
JEANS & THINGS
LIGHTHOUSE
WIN
NIETH
E
POOHSH
OP
ITALIA
NCAF
E
ANGELS BODY PIERCING STUDIO
SIMMONDS
ANGELS
CANTERBURY CHRISTIA
N
BOOKSHOP
PIZZA EXPRESS
PILGRIMS
DESIGN
29
STEAK & GRILL
WAT
WHATEVER COMICS
GORDON LARKIN
LOAF HAIRTUDOR HOUSE
THE
MERCHANTCHANDLE
R
CITY FISH BAR
THOMAS BECKET
PIZZ
AEX
PRES
S
BAGUETTE - E
LLA
C JS
L`OCCITANE EN
PROVENCE
CON
FREE
SPIRIT
BENJIS
ANTONIOU
HAIR&
BEAUTY
PASTRY PATISSERIE
NAT WEST
PUNKY FI
ZEBRA CARDS
O2
MILL
ETS
MOSS
LAKELAND
THE BEAD POT
ORTWIN THYSSEN
NANDOS
NATI
ONA
MAD 4MOBILES
925
OK
THE FRIARS
ORANGE
BA
CANT
ERBU
RY
CATH
EDRA
LSH
OP
TAKE
2
OXFAM
BOOKS
HOP
BRASSERIEGERARD
THE RUNNING OUTLET
ROCCOS
TIONER
S
ART OF CANDLES
FITZ
GERA
LDCR
ABTR
EE&
EVEL
YN
ZIZZI
SUBWAY
POPP
INS
WHISPE
RSTHE
MERCHAN
CHANDLE
RBE
AUTIF
UL
NAILS
CITY KITCHEN CENTRE
JWLR
OFFI
CE
BANK
VACANT OUTLET
HAIR
VAC
VACANT OUTLET
SHOES
T/A
CONF & BIS
CHAR
ITY
SHOP
CHAR SH
BOOKS
SHOES
L/WR & SHOES
PUBLIC HOUSE
CHAR SH & CAFE
COFFEE SHOP
OPTIC
IAN
OFFICE
STORE
S/W
BAR
L/WR
& L ACCESS
INFO
CEN
ART MATERIALS
VACANTOUTL
ET
T/A
SHOES
RESTAURANT
CLOT
HING
SHOES
CATH
KID
STON
RESTAURANT
BAR & REST
HEALTH FOOD& CAFE
NEWSAGENT
PUBLIC HOUSE
VACANTOUTLET
JWLR
CAFE
LADIES WEAR
BANK
BANK
COFF SH
VACANT OUTLET
LADIE
S&
MENS
WEA
R
GREEKREST
SANDWICH BAR
SHOES
TELE
PHONES
TRAVEL AGENT
OFFICE
PHOTOGOODS
HO TEXT &
SEWG MACH
SHOE REP &KEY CUT
OUTDO
ORW
EAR
L/WR&
M/WR
BAR
&RE
STAU
RANT
ENT TO
EMP AG
Y
CARD
S&CR
AFT
CONF
&BI
S
CARDS
TRAVEL AGENT
BAKER& REST
LIBRARY
BETTIN
GOFF
ICE
STATIO
NER& CARDS
GIFTS
HAIR
JWLR
&PA
WNB
RO
GIFTS
JACK W
ILLS
HEALTH
FOOD
RESTAURANTCL
OTHI
NG
DRY CLEANING
TOURISTINFO & GIFTS
BAR&
RESTAURANT
PUBL
ICHO
USE
BAR
&RES
TAURAN
T
CONF
&BI
S
PIZZA REST & PIZZ
A T/A
SPTS
GDS
VACANT POST OFFICE
SHOES
COMPUTER
GAMES
ITALIAN RESTAURANT
LADIES
WEAR
LADIES & MENS WEAR
TRAV
AG
GIFT
S
BANK
ITALIAN RESTAURANT
JEWELLER
GIFTS
SHOES
OPTICIAN
SHOES
BANK
JEW
ELLE
R
JEWELLER
GIFT
SLADIES
WEAR
TAKE AWAY
BAR&
RESTAURAN
T
HOTEL
CHIN
A&
GLA
SSW
ARE
PUBL
ICHO
USE
L&M
ACCESSCONF & BIS
GIFTS
TOYS
&GAM
ES&
GIFT
S
DEPARTMENT STORE
DEPARTMENT STORE
DEPARTMENT STORE
LADI
ESW
EAR
HOGD
S
DEPA
RTMEN
TST
ORE
INFORMATIO
NCENTRE &
MUSEUM& ART GALL
ERY
COFFEE
SHOP
COFF
EESH
OP
BUILDIN
GSOCIETY
RESTAURANT
ITALIAN RESTAURANT
ITALIA
NRESTA
URANT
CTN
RESTAURANT
VACANT OUTLET &
UNDER ALTERATION OFFIC
EEQUIP
MENT
FURNITURE PUBLIC HOUSE
OFFICE
PLAC
EOF
WORS
HIP
RESTAURANT
ITALIAN RESTAURANT
CLOT
HING
COFFEE SHOP
HAIR
JEWELL
ER GIFTS
CLOTHING
ADVICECENTRE
CONF
&BI
S
BAR
VACANTOUTL
ET
VACANT OUTLET
HAIR
CLOTHING
COFFEE
SHOP
L ACCESS
L/WR
CHRBKS
PIZZA
RESTAURANT
VACANT OUTLET &
UNDERALT
ERATION
JEWELL
ER
REST
COMICS
HAIRDRESSINGGUEST HOUSE
VAC
FISH & CHIP
PIZZ
ARE
STAU
RANT
S/WBAR
TAKEAWAY
HLTH&BEA
T
CLOTH
ING
HAIR&
BEAUSAL
SANDWICH BAR
BANK
CONF & BIS
PUBLIC HOUSE
INT DECOR
INT DECOR
HOTEL & BAR
CHARITY SHOP
HALL&
SOCIAL CLUB
JEWELLER
GIFTS
LIGHTING
OPTICIAN
BUILDING
SOCIETY
TRAVEL AGENT
LEATHER GOODS
LADIES WEAR
TELE
PHONES
HOUSEHOLD GOODSVA
C
VACANT OUTLET
CARDS
& FLOR
CHA
CLOTH
ING
CHARITY
SHOP
&BO
OKS
SPORTS GOODS
CAFE
GIFTS
OUT
WR
&CA
MPG
GDS
ITALIA
NRES
T
SANDWIC
HBAR
RESTA
URANT
GIFTS
BEAU
SAL
KITCHEN FURNITURE
CARDS&
GIFTS
HLTH
&BEA
JEW
ELLE
R
ONER
FRENCH
RESTAURANT
GIFT
S
H
TELE
PHONES
AR
MENS
WEA
R
JEWELLER
TEL
GI
MEXIC
EDUCAT
IONAL
ESTA
BLIS
HMENT
OFFICE
JEWELLER
JWLR
6
81
48
38
3 - 4
17
14 - 15
2
2
49
27
17- 1
8
13
17
35
8 - 8A
45
20
11
59
11
4 - 5
7
16
27 - 28
77
23
18
15
36 - 37
31
37
5 - 6
25- 26
44
25 - 26
22
10
11
35
27
24
43
12 - 13
7
14
3- 9
10
1314
3
42
1
7
19
41 - 42
44
4546
11- 1
4
33
38A
34
9
10
46 - 47
34A
21
8
12
60
16
1 - 2
41
7 - 11
30 - 32
12
12- 13
3
5
43
19
39
36
29
4
14
29
7
15- 1
6
29
40
1
10- 11
2320
3- 4
4015
32
1
8- 9
14 - 15
33
22
34
30 - 31
38 39
3
16
2
2 - 3
60- 6
1
10
24 1
5657
1
59
11
2
1
16
5455
12
1
8 - 9
5B
6
5 - 6
7
20
8 - 9
13
8
22
4
54
29
7
19
4 - 5
5
6A
10
20- 2
2
9
3
6
9 - 10
0
5A
7A
29A-B
27
28
1
9
10
4 16
2
11
6
21
56
4
10
47
7
4
12
11
3A
1 - 2
50
53
13
24
50
55
51
54
8
51
53
57
49
52
12
11
58
11A
13
47A
6
25
26
14
15
49A
STO
URST
REET
PARADE
LONGMARKET
BUTC
HERY
LANE
HIGH STREET
WHI
TEHO
RSE
LANE
LONGMAR
KETSH
OPPIN
GCEN
TRE
MERCER
YLA
NE
GUILD
HALL
STRE
ET
SUNSTREET
BEST
LANE
ORANGE STREET
PALA
CES
ST PETERS GROVE
ALLSAIN
TS LANE
TURNAGAIN LANE
JEWRY LANE
(2 RET FLRS)
YARD
MEMORIAL
YARD
(2RE
T FLRS
)
(2 RET FLRS)
CLOSE
D (2RE
TFL
RS)
(2RE
TAIL
FLOOR
S)
(3 RETAIL FLOORS)
BUTTERMARKET
CLOSED
(2RETA
ILFL
OORS)
&
(2RE
TAIL
FLOOR
S)
(2 RETAIL FLOORS)
R I V E RS T O U R
&
CHRISTCHURCH GATE
(2RET
AIL FL
OORS)
(2RET
FLRS)
YARD
KING'S BRIDGE
GARDEN
VACANT SITE
(2 RETAIL FLOORS)
(4RETAIL
FLOORS)
YARD
RI V
ER
ST O
UR
(2 RET FLRS)
&
(3RETA
ILFL
OORS)
(2RET FL
RS)
(2RE
TFL
RS)
(2RE
TFL
RS)
(PEDESTRIANS ONLY EXCEPT
PERMIT HOLDERS 10.30AM- 4.00PM)
CLOSE
D
(PEDESTRIANS ONLY EXCEPT PERMIT HOLDERS 10.30AM - 4.00PM)
(PEDESTR
PERMIT HO
(2RE
TFL
RS
(
ENT
DWEL
LING
ENT
ENT
ENTRAN
CE
ENT
DWEL
LINGS
DWELLING
DW
DWG DWG
DWG
DWELL
INGS
ENT
DWELLINGS
DWEL
LINGS
DWG
DWG
S
DWG
WELLING
ENT
ENT
DWGS
EN G
DWELLING
ENT
3 - 7
58
17
8
22
23
147
17
18- 2
0
7 - 8
10
10
CanterburyGreen and Part ers
26/8/2011
