Available
Canterbury – Former Department Store with Planning for Residential, Retail & Office Scheme
46-47 High Street, Canterbury, Kent, CT1 2SDFreehold Commercial Property with Redevelopment Opportunity
Price
£5,000,000
Rent P.A.
Vacant
Tenure
Freehold
Area
50,000 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- The site extends to approx. 0.96 acres (0.388 hectares) and comprises the former Nasons Department Store
- The site has an L-shaped configuration, comprising of interconnected warehouses and commercial buildings
- A rare planning permission has been granted for a mixed-use development
- The site is only a 9-minute walk from Canterbury East Train Station and a 10-minute walk from Canterbury West
- The property is offered for sale freehold with vacant possession upon legal completion
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises the former Nasons department store, which is currently unoccupied, and spans over 50,000 square feet. It is composed of multiple buildings that face both the High Street and White Horse Lane, with pedestrian access from St. Margaret's Street. The site has a generally L-shaped layout and includes a group of interconnected warehouses and commercial buildings. These structures were last used by the furniture department store until it closed in September 2018, dating back to the 1960s. Apart from the three-storey No.46 High Street, which is a Grade II Listed building and served as the main retail area of the Nasons store, the rest of the buildings on the site are a varied collection of mostly two-story structures. They vary in age and quality, with many previously having an industrial character.
Development Opportunity:
The site benefits from planning permission for a mixed-use development consisting of 33 self-contained apartments, 32 serviced apartments, and approx. 2,397 sqm (25,801 sqft) of commercial space comprising retail, restaurant, offices and flexible/community space.
Development Opportunity:
The site benefits from planning permission for a mixed-use development consisting of 33 self-contained apartments, 32 serviced apartments, and approx. 2,397 sqm (25,801 sqft) of commercial space comprising retail, restaurant, offices and flexible/community space.
Location Description
Canterbury is a historic city located in the county of Kent in southeastern England, situated approx. 62 miles (100 km) south east of Central London, 17 miles (27 km) north west of Dover and 29 miles (47 km) east of Maidstone. At the heart of Canterbury stands Canterbury Cathedral, a UNESCO World Heritage Site and one of the most important Christian pilgrimage sites. The city centre has narrow winding streets lined with cafes, restaurants and boutique shops. The city is home to University of Kent and Canterbury Christ Church University. The site is only a 9-minute walk from Canterbury East Train Station and a 10-minute walk from Canterbury West - the former provides a direct services to St Pancras with a 56 minute journey time.