Mixed Use Investment For Sale in Dover, Kent CT16

This property is marketed by:
Whozoo

Key Features

• Prominent mixed-use block on Dover’s busiest commercial street
• Three ground floor retail units and offices on the first and second floor
• Direct rear access to shared car park
• Planning approved for three studio apartments above the large retail unit (Ref: 25/00745)
• Application submitted to subdivide ground floor large vacant retail unit into 3.
• Significant redevelopment and asset management potential

Description

A prominent and well-located block situated on one of Dover’s busiest commercial shopping streets, comprising three separate ground floor retail units together with a substantial suite of offices on the first and second floors.

Two of the three retail units are currently tenanted, with the third remaining vacant. Each unit benefits from its own toilet facilities and ancillary office space (with multiple offices within the largest vacant unit). The largest unit also incorporates a first-floor area arranged as offices, storage and WC facilities.

All retail units enjoy direct rear access onto a shared car park. To the rear of the property there is a generous hardstanding area providing parking, loading facilities and access to standard utilities.

The owners have secured planning permission from Dover District Council to create three studio apartments on the upper floors of the large vacant unit (ref: 25/00745). The owners have also submitted an application to split the ground floor of 72-74 into 3 retail units.

Tenancy details for the occupied units are as follows:

• 75 Biggin Street is let to Barnardo’s until 24 April 2027 at a rent of £9,000 per annum.
• 76 Biggin Street is let to a nail and beauty salon until 29 January 2035 (no break clause) at a current rent of £12,500 per annum. The lease provides for a rent review in 2030, calculated in line with RPI, subject to a minimum uplift to £13,810 per annum.