90 Week Street
Maidstone, Kent, ME14 1RL
2,964 Sq Ft
Retail Investment - Commercial
For Sale: Offers in the Region of £575,000
Property Details
Prime freehold retail investment
Entire property let to SFJ Property & Equipment Ltd
Current rent of £50,000 per annum
Offers in region of £575,000 (8.31% NIY)
Established tenant in occupation for 10 years
EPC Rating - B (38)
A prime retail unit over ground and first floor. The property is currently used as a sunbed salon with multiple partitioned tanning booths across both floors. The property also benefits from rear vehicular access and 2 parking spaces. There is also an external staircase to the rear of the property giving excellent flexibility for future uses with the ability to convert or sub-let the upper floor.
Location
Maidstone is located approximately 38 miles south east of London and 20 miles north west of Ashford. It has a large catchment population of circa 332,000 with an over representation of those highest AB and C1 social categories, and an extremely low rate of unemployment. There are excellent transport links with regular departures to the Capital and journey times of under an hour. Both stations are within a short walk from the property.
Maidstone offers a range of national chains and independent retailers with the prime areas being Fremlin Walk and Week Street. The property is located on the edge of the prime area within the pedestrianised zone of the Town Centre just a very short walk to Maidstone East station. The tenant has been trading from this site for almost 10 years and is therefore well established and while it uses social media to promote it, the business of tanning will always require a building to trade from.
The property is located on Week Street, a prime pedestrianised shopping area in Maidstone and is situated directly between McDonalds and Tesco Express which mean it experiences high passing trade. It also benefits from good visibility and is in one of the highest footfall areas of the town, almost adjacent to Maidstone East station which is just a few hundred meters away. The property benefits from a number of national retailers such as Primark, KFC, CeX and Sue Ryder being within the immediate vicinity.
Accommodation
The property comprises a recently refurbished retail unit which has been measured on approx. Net Internal Area (NIA) basis as follow:
Area Sq Ft Sq M
Ground Floor 1,553 144.36
First Floor 1,410 131.04
Total 2,964 275.40
