Retail premises for sale

Market Street, Margate CT9

Prime Mixed-Use Development Opportunity – Market Street, Margate

An exceptional opportunity to acquire a substantial mixed-use freehold property occupying a prominent position in the heart of Margate's vibrant Old Town.

Formerly home to a highly successful and long-established Chinese restaurant, the property comprises an extensive ground floor commercial premises together with generous residential accommodation occupying the upper floors of both Nos. 7 and 8 Market Street.

Situated within one of Kent's most sought-after coastal destinations, the property enjoys excellent footfall and is surrounded by an eclectic mix of independent retailers, cafés, restaurants, galleries and leisure attractions, making it an ideal investment or redevelopment opportunity.

The property offers significant potential for a variety of future uses, subject to the necessary consents. A planning application (Ref: F/th/24/0868) was submitted proposing the conversion of the existing restaurant into two separate ground floor retail units with the creation of seven self-contained residential apartments across the upper floors. Interested parties are advised to make their own enquiries with Thanet District Council regarding the planning history and any future development potential.

The property is currently comprised as a ground floor restaurant with a basement 2 cellars, with three, three-bedroom flats and three, two-bedroom flats above. The property also benefits from three parking spaces to the rear.

This is a rare opportunity to secure a landmark property in one of Margate's most desirable commercial locations, offering immediate income potential, owner-occupier possibilities or an exciting redevelopment project.

Identification checks
If an offer is accepted on a property marketed by Miles & Barr, all purchasers are required to complete id verification checks. This is a legal obligation under Anti-Money Laundering Regulations. We use a specialist third-party company to carry out these checks. The fee is £60 (including VAT) per person or £120 (including VAT) if purchasing under a company name, payable once the offer is agreed and before the sales memorandum is issued. Please note that this charge is non-refundable.

Margate is a fantastic seaside town and contains the areas of Cliftonville, Garlinge, Palm Bay and Westbrook. The energy surrounding Margate is excellent, it holds the likes of a world class Art Gallery, the UK's original pleasure park 'Dreamland', fast Rail links into London and of course not forgetting the stunning sandy beaches and sparkling bays. You are within a 10 minute drive to the neighbouring towns which are Broadstairs, Ramsgate and Birchington. There are also good road links to London via the A299 Thanet Way and M2 Motorway.