Commercial property for sale in 12-14 High Street, Sheerness ME12

£650,000 (£183.98/sq. ft)
Commercial property for sale 3,533 sq. ft*
Interested in this property? Call +44 1959 458002 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Prominent corner building
  • Located between the station & the beach
  • Lease expires 2038
  • Rental income: £51,400 pa
  • Recent major fit out by tenant

Property description

Summary

Prominent retail investment let to established restaurant

Location

The property is prominently located at the northern end of the High Street on the corner of Beach Street. Sheerness-on-Sea mainline railway station, providing frequent services to Sittingbourne, is approximately 100m away. Sheerness beach, Tesco's Supermarket, McDonalds, the Sheppey Leisure Complex and various public car parks, are all within walking distance of the property.
Sheerness is some 10 miles north of Sittingbourne on the Isle of Sheppey in the Thames Estuary. The town is accessed via the A249, which links with the A2, M2 and M20 Motorways.

Investment Highlights


  • Recent significant capital investment into fit out by tenant

  • Lease expiry 2038 & 7 years until tenant's break option

  • Rent: £51,400 per annum

  • Extensive ground floor restaurant with residential upper parts

Accommodation



The property comprises a large ground floor restaurant which has been extended into the adjoining No 10 High Street (under separate ownership) together with first and second floors which are being used for residential purposes. The current tenant has made a signifcant investment into the fit out of the restaurant which now provides an extensive buffet servery, open kitchen area and seating for over 200.

A detailed inspection of the accommodation has not yet been possible. However, from information provided (including the voa), we understand the property has the following floor areas:

Ground floor:
1,714 sq ft
159.20 sq m

First floor:
1,072 sq ft
99.6 sq m

Second floor:
747 sq ft
69.4 sq m

Tenancy

The entire property is let for a term of 21 years from 31/10/17 on Fri terms to Mr Lu on an assignment in August 2019. The tenant has an option to break on 31/10/27. The lease is outside the lta '54 & contains a provision for the tenant to reinstate the former party wall with No 10 High Street.

Trading Through The Covid-19 Pandemic

We are informed by our clients that the tenant has continued to trade through the lockdowns providing a popular take-away and delivery service. We understand that the tenant has continued to pay full rent and that there are no current rent arrears.

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Karrison Property, TN16 on +44 1959 458002 * (local rate)

Contact Karrison Property about this property

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Karrison Property, and do not constitute property particulars. Please contact Karrison Property for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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