Retail/Shop for sale Maidstone ME15 6HL,7736sq ft

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Retail/Shop

Retail/Shop For Sale Maidstone

PROPERTY ID: 111945

PROPERTY TYPE

Retail/Shop

STATUS

Available

SIZE

7,736 sq.ft

Key Features

LET IN PART TO NATIONAL COVENANT

7.96% ARY

7.50% NIY

TWO SEPARATE LEASES PRODUCING £107,500 PER ANNUM

OIRO £1,350,000

POTENTIAL FOR RESIDENTIAL CONVERSION OF UPPER FLOORS IN FUTURE

Property Details

The property is located at the top of Gabriels Hill at the cross road with Week Street, High Street and King Street, the prime retail area directly between Fremlin Walk and The Mall in the heart of Maidstone Town Centre, the County Town of Kent. Maidstone is conveniently located in the centre of the County just 1.5 miles to junctions 6 and 7 of the M20 motorway giving excellent access to the M25 and the wider motorway network. Train services to London are less than 1 hour.

Retail & Bar / Restaurant Investment For Sale. Let To Paddy Power & Bliss Cafe. Currently Producing A Gross Income Of £107,500 Per Annum Located At The Top Of Gabriels Hill And Wrapping Around To The Entrance To The Mall On King Street In Maidstone, This Mixed Use Investment Is Well Located Just Off The Prime Retail Pitch And Has Potential For Residential Conversion When The Existing Lease Expires On The Substantial Upper Floors. The Property, A Grade Ii Listed Building, Is Separated Into Two Tenancies With Paddy Power Occupying 9 Gabriels Hill, A Ground Floor Retail Unit, And 14 King Street Occupied By Bliss Cafe A Restaurant And Bar With Covered And Heated Outside Seating Plus Separate Coffee Shop And Additional Staff Living Accommodation On The Second Floor. 9 Gabriels Hill - Let To Paddy Power Until 8th August 2027. This Comprises Ground Floor Retail With Frontage Onto Gabriels Hill: Retail Area - 169.55 Sq M = 1,825 Sq Ft Basement - 68.84 Sq M = 741 Sq Ft 14 King Street - Let To Bliss Cafe Until 28th July 2036. Accessed Via King Street At Ground Level, This Element Of The Property Has A Covered And Heated Outside Seating Area With Pizza Bar Plus Access Into The Main Restaurant / Bar Area. In Addition The Second Floor Has Staff Living Accommodation, Comprised As Follows; Coffee Shop - 48.00 Sq M = 517 Sq Ft Ff Restaurant / Bar - 221.29 Sq M = 2,382 Sq Ft Sf Staff Accommodation - 211.01 Sq M = 2,271 Sq Ft Outside Seating Area - 188.00 Sq M = 2,024 Sq Ft Let In Part To National Covenant 7.96% Ary 7.50% Niy Two Separate Leases Producing £107,500 Per Annum Oiro £1,350,000 Potential For Residential Conversion Of Upper Floors In Future

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About the Agent

Sibley Pares LLP

See Agent's Other Properties

Retail Unit

£1,350,000 Freehold

9 Gabriels Hill & 14 King Street, Maidstone, ME15 6HL

Retail/Shop - Available
7,736 sq ft
719 sqm

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