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House For Sale Sun Street, Canterbury, CT1

£1,250,000

Yield: 0.73%
1 of 13
Yield: 0.73%
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  • Rental Guide: £610 - £765
  • Description
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Key Features

  • Video Tour Available
  • Freehold Commercial Premises
  • Potential For Residential To Upper Floors
  • Prime Location
  • 4474 Sq Ft (416 Sq M) Of Retail/office Space
  • No Onward Chain
Last Updated: 19th January 2021

Description

A unique and exciting opportunity to acquire a freehold commercial premises being sold with vacant possession offered for sale for the first time since 1935. The building benefits from a prime central position within the Old City walls, directly opposite Christ Church gates and Canterbury Cathedral entrance, where it enjoys a prominent trading position with exceptionally high footfall.

Having been rebuilt in the 19th Century following a fire in 1865 which destroyed the previous structure, the building now provides 4474 sq ft (416 sq m) of retail/office space arranged over four floors as well as a basement level. The property was most recently let to Canterbury City Council as a Tourist Information Centre and offers potential for a variety of uses. The upper floors are thought suitable for residential redevelopment (subject to obtaining all necessary consents and approvals being obtained). The building also benefits from a passenger lift to first floor level.

Interested parties are advised to make their own enquiries relating to planning matters via Canterbury City Council; .

Location - Sun Street is a highly desirable pedestrianised street within the heart of the Old City walls and immediately opposite Christ Church gates and Canterbury Cathedral, which forms part of a World Heritage Site. The location is convenient for access to Canterbury West mainline railway station (0.5 of miles distant) as well as Canterbury bus station (0.3 miles distant). Canterbury also offers a wealth of cultural and leisure amenities including the recently reconstructed Marlowe Theatre, bars, highly regarded restaurants and a major shopping centre enjoying a range of mainstream retail outlets as well as many individual shops. Canterbury provides easy access to the A2/M2 and subsequent motorway network and the mainline railway stations offer fast and frequent services to London Victoria (approximately 95mins), and high speed links from Canterbury West to London St Pancras (approximately 56 mins).

The approximate areas are:

Ground Floor -

Retail Zone A - 50.16m

Retail Zone B - 31.3m

First Floor -

Retail Area - 67.4m

Second Floor -

Offices - 60.5m

Third Floor -

Offices - 41.1m

Basement -

Basement Internal Storage - 53.4m

Video Tour Available - We won't let social distancing measures stop you from seeing this property. Please view the video tour for this property, and contact us to discuss arranging a physical viewing.

Rateable Values - According to the Valuation Office Agency website the property's current description is 'Restaurant & Premises' and the Rateable Value is currently £88,000. For more information please visit GOV.UK

Tenure - Freehold with vacant possession on completion.
Agent Details
Christopher Hodgson
95-97, Tankerton Road, Whitstable, CT5 2AJ
Show Contact Number
01227 266 441
**This report is currently a Beta Test Version. Do not rely on the information provided below.

Forecast Score

Based on data and factors which historcally influence property prices this property has an overall score as:

Data Classified:
This property has been partially classified.
0.4

Forecast Report

Our predictive algorithms and data analysts; scan, compare and rank properties by future gains and current returns; helping you pick the perfect investment at a glance.

The following influencers contribute to our score:
  • Historical Data
  • Interest Rates
  • Mortgage Availability
  • Fiscal Policy
  • Recent Sold Prices
  • Housing Demand
  • Benchmarking Performance Against Other Asset Classes

Comparison with local sold prices

There is not enough data available
0

Profitability

Very good rental demand in this area.
Compared to other property investments this gives a very poor return.
0

Interest Rates

Bank of England Base Rate:
0.1%
Current all-time record low interest rates are making monthly mortgage payments more affordable so more people will buy houses, which will lead to house prices increasing.
10

Mortgage Availability

Current moderate appetite for banks to lend mortgages, will lead to steady house price growth.
5

Fiscal Policy

First Home Stamp Duty:
£53,750
Buy To Let or Second Home:
£91,250
The governments recent policies, including significant tax in this property price band, will not help future price growth
1.8

Comparison with other investment alternatives

Investing in this property will give you a slightly better regular return, when compared to other conservative investments.
1

Investment Analysis

Annual Rent:
Annual Mortgage Interest:
Annual Costs:

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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

One&Only Pro are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Rental Data
0 bedroom properties in close proximity are mostly listed £300 - £765 – 24 recently listed properties were found in that band. However, the highest were £930, £900, £900.

These figures should only be used as a guide, always get a rental assessment from a professional.
This is the potential achievable yield.
Potential Return-on-Cash Invested