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Tesco Express, Folkestone


£ 750,000
42 Cheriton High Street, Cheriton, Kent, CT19 4ET

Basic Facts

Status: Type: Tenure: Freehold Gross Rent: £ 49,500
Gross Yield %: 6.6 Lease Term: 20 years from Apr '14

Property Description

  • Freehold, blue-chip supermarket investment in the South East
  • Brand new, purpose-built retail unit with ancillary accommodation on the first and second floor.
  • The property is in shell condition and has not been fitted out or occupied by Tesco Express
  • The adjacent ground floor retail unit let to Paddy Power, which forms part of this building, can also be acquired in the same transaction and details are here

Location Description

  • The property is well-located on the busy Cheriton High Street adjacent to the Post Office, Paydens Chemist, Lloyds TSB Bank, and Coral bookmakers.
  • Cheriton High Street is the main road which connects Jct 12 of the M20 Motorway to Folkestone town centre
  • The area is predominantly a residential suburb, and benefits from its close proximity to Folkestone West railway station
  • Cheriton is famous for being the location of the English side of the Channel Tunnel.and is also home to the major army barracks of Shorncliffe Camp

Additional Notes

  • The tenant is currently not in occupation and is trying to sublet the property to a tenant of an equivalent covenant

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