24 High Street
Canterbury
Kent
CT1 2AY

Prime Freehold Restaurant Investment

  • Busy pedestrianised city centre location
  • Let to Azzurri Restaurants Limited (formerly Ask Restaurants) on a lease expiring 2031 (no breaks)
  • Near to The Marlowe Theatre and Canterbury Cathedral
  • Close to the historic Kings Bridge and Weavers Buildings
  • Lot
    7
  • Auction
    24/Oct/2019
  • Rent
    £96,750 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    Restaurant
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 24 High Street<br>Canterbury<br>Kent<br>CT1 2AY
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* More information on the term "price" can be found here

Property Information

Location
Miles
14 miles north-east of Ashford
62 miles south-east of Central London
Roads
A2, A28, A299, M2, M20
Rail
Canterbury East Railway Station (approx 80 minutes to London St Pancras International)
Air
Gatwick Airport
Situation

The property is situated in an excellent trading location on the north side of High Street, close to its junction with Best Lane in the heart of the city centre. The property is 250 metres south of Canterbury Cathedral, 100 metres south of The Marlowe, a 1,000-seat theatre, and 300 metres north-west of the Whitefriars Shopping Centre, which houses retailers including Marks & Spencer, Boots, Costa, Greggs, HSBC, KFC and Metro Bank. Other nearby occupiers include Zizzi, Pizza Express, West Cornwall Pasty Company and Prezzo.

Tenure

Freehold.

Description

The property comprises a restaurant arranged over basement, ground, first and second floors. The ground floor provides a restaurant (60 covers), bar and kitchen. The basement a restaurant (50 covers) and bar. The first floor restaurant (48 covers) together with WC, storage and a kitchen. The second floor comprises office, storage and staff accommodation. There is further seating externally to the front and rear of the property together with access to the adjoining Great Stour river.

VAT

VAT is applicable to this lot.

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
Basement
First
Second
External Seating
Restaurant & Ancillary
Restaurant & Ancillary
Restaurant & Ancillary
Ancillary
103.50 sq m
71.60 sq m
94.1 sq m
40 sq m
57.10 sq m
(1,117 sq ft)
(771 sq ft)
(1,013 sq ft)
(430 sq ft)
(615 sq ft)
AZZURRI
RESTAURANTS
LIMITED
(formerly Ask
Restaurants
Limited) (1)
15 years
from
20/05/2016
until
19/05/2031
on a full
repairing
and insuring
lease (2)
£96,7502021 and
5 yearly
Total
366.30 sq m
(3,946 sq ft)
  £96,750 

(1) For the year ended 1st July 2018, Azzurri Restaurants Limited reported a turnover of £260,264,000, pre-tax profits of £11,227,000 and a net worth of £88,676,000 (Source : Experian 10/09/2019). Ask trades from 111 restaurants nationwide (Source: www.askitalian.co.uk).
(2) The previous lease was for a term of 20 years from 1996.

Property Documents

  • Site Plan
    Updated Date
    02.10.19
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Peter CunliffePeter Cunliffe +44 (0)20 7034 4852 +44 (0)7836 742834peter.cunliffe@acuitus.co.uk
Seller's Solicitors
WT Jones Solicitors 71, Gray's Inn, Holborn
London
WC1X 8TR
0207 242 4337
Peter Hambleton 0207 242 7767pch71gir@gmail.com

Useful Links

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