Prime Retail Investment For Sale - 25-27 High Street, Ramsgate, CT11 9AG Jointly instructed with
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Jointly instructed with: 25-27 High Street, Ramsgate, CT11 9AG Prime Retail Investment For Sale
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
EXECUTIVE SUMMARY
• Prime position on High Street, Ramsgate,
Thanet in East Kent, within walking distance
of the beachfront promenade and Ramsgate
train station.
• 2 adjoining retail premises arranged over
two storey’s measuring 5,734 square feet
(537.4 square metres) approximately, which
represents an excellent capital value of £70
per square foot.
• Let to Sportswift Ltd t/a Card Factory and
Bonmarche Ltd until 2021 on a total
combined rent of £43,250 per annum, which
represents a net initial yield of 10.5%.
• Rear yard and ancillary space with potential
to convert to residential, STP.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG LOCATION The property is in the seaside town of Ramsgate (Thanet, east Kent), in a prime position on the high street, between the junctions of Hardres Street and Turner Street. The main beachfront promenade is only a short walk away. Ramsgate station is also within walking distance (approximately 0.8 miles away). There is a regular train service into London (operated by Southeastern with journey times of approximately 1 hour 20 mins into London’s Kings Cross or 1 hour 10 minutes into Stratford International). The closest junction of the A299 is 1.5 miles to the west and links directly to the M2 within 25 miles approximately. The town is approximately 20 miles north of Dover, the major ferry port for the South East of England. Nearby occupiers include WH Smith, British Heart Foundation, New Look, Holland & Barrett, Boots, Caffe Nero, HSBC, Shoe Zone, Specsavers, Santander and Peacocks.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
DESCRIPTION
The property comprises 2 adjoining retail premises with a rear yard allowing access from Broad
Street. Both properties are two-storey, with retail use on the ground floor and ancillary space
on the first floor. The property is fully let and producing a combined income of £43,250 per
annum, exclusive.
Measurements are approximate and for indicative purposes only and should not be relied upon. We make no guarantee or warrantee
as to the accuracy of these details. You are advised to conduct your own independent investigation regarding the existing and
proposed layout of the property and the permitted uses the building currently has or will be granted.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
SITE/TITLE PLAN
Rear yard
Birdseye view image with rear yard highlighted
Ramsgate
Y
LL D
TA E
TO ICK
W
Experian Goad Plan Created: 20/03/2018
50 metres Created By: Cradick Retail
Copyright and confidentiality Experian, 2017. © Crown For more information on our products and services:
copyright and database rights 2017. OS 100019885 www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
FLOOR PLANS
Floor plans and areas are for indicative purposes only and should not be relied upon. We make no
guarantee or warrantee as to the accuracy and the scale of the plans. You are advised to conduct your own
independent investigation regarding the layout of the property.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
PLANNING
There is potential to convert the upper parts and/or the rear yard to residential use, subject
to obtaining the appropriate consents. The land between 5-7 Broad Street was granted
permission by Thanet District Council for the erection of a four-storey building comprising
20 one- and two-bedroom apartments, under planning reference: F/TH/05/0251 in 2005.
5-7 Broad Street
Rear Yard Access
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG TENANCIES 27 High Street, Ramsgate, CT11 9AG Tenant: Sportswift Ltd t/a Card Factory (900 stores across UK and Ireland, reporting total group revenue: £422.1m, pre-tax profit: £80.5m) Term: 3 years from 29th September 2018 Rent: £16,250 per annum exclusive which breaks back to £24 Zone A 25 High Street, Ramsgate, CT11 9AG Tenant: Bonmarche Ltd (300 stores across the UK, reporting total revenue: £186m, pre-tax profit: £8m) Term: 3 years from 17th October 2018 Rent: £27,000 per annum exclusive which breaks back to £27 Zone A The tone for prime pitch is currently evidenced at between £20 - £30 Zone A
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG ACCOMMODATION The properties are arranged as ground floor sales with ancillary accommodation on the first floor. Approximate areas as follows:- 27 High Street (Card Factory): Ground Floor 838 sq ft 77.85 sq m First Floor 829 sq ft 77.01 sq m ITZA 613.5 units 25 High Street (Bonmarche): Ground Floor 2,178 sq ft 202.34 sq m Sales Ground Floor 308 sq ft 28.61 sq m Ancillary First Floor 1,631 sq ft 151.52 sq m ITZA 848.5 units Total (25-27 High Street): 5,784 square feet (537.4 square metres) All sizes provided are approximate. The joint agents make no warranty for the accuracy of these sizes and all interested parties are advised to independently verify these details to satisfy themselves.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG BUSINESS RATES 27 High Street, Ramsgate, CT11 9AG Rateable Value: £15,500 UBR (2019/20): 0.491 Rates payable: £7,601.50 25 High Street, Ramsgate, CT11 9AG Rateable Value: £23,500 UBR (2019/20): 0.491 Rates payable: £11,538.50 Interested parties are advised to check the above independently with Thanet district council business rates department on 01843 577 557.
www.harstonandco.co.uk 25-27 High Street, Ramsgate, CT11 9AG
TERMS CONTACT
The freehold interest is available for £425,000, which
represents a net initial yield of 10.5%, subject to
contract.
Nick Harston
TENURE 020 3371 0061
The freehold interest is be sold subject to the existing nick@harstonandco.co.uk
tenancies.
Erkut Enver
VAT 020 3371 0061
We understand the building is elected for VAT. erkut@harstonandco.co.uk
VIEWINGS Jointly instructed with: Emma Clarke
Viewings are strictly through joint agents Harston&Co
01892 707512
and Cradick Retail, by appointment only.
eclarke@cradick.co.uk
LEGAL COSTS Matt Ritson
Each party to be responsible for their own legal costs. 01892 707500
mritson@cradick.co.uk
Subject to contract and exclusive of VAT Harston&Co on its behalf and for the vendors or lessors of this property whose agents they are, give notice that: The particulars within this document are for general guidance only and do not constitute any part of an offer or contract for sale or lease. Any statements or representations
should not be relied upon as fact, and any interested parties should satisfy themselves as to the accuracy of any statement. Unless otherwise stated, all prices and rents are exclusive of VAT and are subject to change. Harston&Co is the trading name of Harston Property Ltd registered in England No: 10618714.You can also read
