49/51 Sandgate Road Folkestone Kent CT20 1RX

49/51 Sandgate Road
Folkestone
Kent
CT20 1RX

Well Located Retail Investment

Let to Caversham Trading Limited (t/a Brighthouse)
Approximately 5,349 sq ft
Prominent Town Centre location opposite Bouverie Place Shopping Centre
Nearby occupiers include Debenhams, Costa, Boots the Chemist and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
47
Auction
25th May 2017
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£550,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Well Located Retail Investment

Let to Caversham Trading Limited (t/a Brighthouse)
Approximately 5,349 sq ft
Prominent Town Centre location opposite Bouverie Place Shopping Centre
Nearby occupiers include Debenhams, Costa, Boots the Chemist and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 47
Auction 25th May 2017
Rent £65,000 per Annum Exclusive
Status Sold
Price £550,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 8 miles south-west of Dover, 15 miles south-east of Ashford, 70 miles south-east of central London
Roads: A20, A259, M20 (Junction 13)
Rail: Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air: London Gatwick Airport

Situation

The property is prominently situated on the southern side of the pedestrianised Sandgate Road, in the heart of Folkestone town centre. Bouverie Place Shopping Centre is located opposite, with occupiers including Primark, Next, Sports Direct, TK Maxx, Poundland and New Look. Other nearby occupiers include Debenhams, Boots the Chemist, Costa, Wilko and WH Smith. NCP Car Park Bouverie Place is located close by and provides car parking for approximately 480 cars.

Tenure

Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.

Location

Miles: 8 miles south-west of Dover, 15 miles south-east of Ashford, 70 miles south-east of central London
Roads: A20, A259, M20 (Junction 13)
Rail: Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air: London Gatwick Airport

Situation

Tenure

Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises a triple fronted ground floor shop with basement ancillary accommodation, forming part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a triple fronted ground floor shop with basement ancillary accommodation, forming part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground/ Basement	Retail/ Ancillary	496.94 sq m	(5,349 sq ft)	CAVERSHAM TRADING LIMITED (1) t/a Brighthouse	10 years from 03/09/2010 on an effectively full repairing and insuring lease	£65,000	02/09/2020
Totals		496.94 sq m	(5,349 sq ft)			£65,000

(1) For the year ending 31st March 2016, Caversham Trading Limited reported a turnover of £67,282,000, pre-tax profits of £4,579,000 and a total net worth of £59,973,000. With over 270,000 customers, Brighthouse is the UK's leading rent-to-own retail chain, providing quality branded home electronics, domestic appliances and household furniture to customers on weekly payments. They currently trade from over 300 stores nationwide (Sources: Experian Group and www.brighthouse.co.uk 24/04/2017).