Summary - 28-28A, ST DUNSTANS STREET CT2 8BZ
1 bed 1 bath Retail Property (high street)
Double-fronted retail near Canterbury West; strong yield and asset-management potential..
Gross income £26,169.96 p.a.; Gross Initial Yield 9.52%
Set on St. Dunstans Street, this double-fronted leasehold retail unit offers immediate income and strong pedestrian footfall close to Canterbury West station. The current rent of £26,169.96 p.a. produces a Gross Initial Yield of 9.52%, making it a clear cash‑flow investment in a busy city-centre location with nearby convenience and national occupiers.
The property is let on a full repairing and insuring (FRI) lease to Simpaul Designs Ltd for a five‑year term from 23 July 2025, with rent reviews in 2027 and 2029 (upward only). There is a mutual option to determine in July 2028 (minimum six months’ notice). VAT is applicable and the lease is long leasehold (reversion 2138) with a peppercorn ground rent.
Practical asset-management opportunities include potential reversionary rent from upcoming reviews, repurposing or re-letting of the upper floor, and active management of the FRI obligations. Material risks: the lease term is relatively short and contains a mutual break, the tenant covenant should be independently verified, and internal condition has not been inspected — further due diligence on layout, services and any service charges is recommended.
This lot suits yield-seeking investors or operators looking for a compact, city-centre showroom with clear pedestrian catchment and asset-management upside. Buyers should budget for VAT considerations and confirm the tenant’s covenant strength and the property’s internal condition before purchase.
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