Lot 19 Click here for addendum
Commercial Investment
6 week completion
Situation
Located close to the junction with The Brook in this pedestrianised High Street in the heart of the town centre close to branches of Gala Bingo, GO Outdoors, Iceland, Savers, Barclays, British Heart Foundation and a host of independent local traders.
Chatham is a Medway town famous for its Naval history, situated between Rochester and Strood, approximately 7 miles north of Maidstone and 7½ miles south-east of Gravesend enjoying excellent road access to the M2 (Junctions 1 & 2) via the A2.
Property
Forming part of a mid-terraced building comprising a Ground Floor Shop with Basement Storage running below Nos. 321 & 323.
Accommodation
Ground Floor Shop
Gross Frontage 14'10"
Internal Width 14'4"
Shop Depth 30'0"
Built Depth 41'5"
WC
Basement Storage Area Approx. 850 sq ft
VAT is NOT applicable to this Lot
Tenure
Leasehold for a term of 999 years from 9th June 2004 at a peppercorn ground rent.
Tenancy
The property is let on a full repairing and insuring lease to Harvey & Thompson Limited as a Pawnbrokers (having 250 branches) (T/O for Y/E 31/12/20 £129.1m Pre-Tax Profit £15.9m and Shareholders' Funds £133.8m) for a term of 10 years from 9th October 2016 at a current rent of £10,000 per annum exclusive.
Note: The lessees have been in occupation for 15 years.