£1,350,000

Commercial property for sale

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  2.  Photo 15
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Freehold

Guide price

£1,350,000

(£174.51/sq. ft)

Commercial property for sale

Gabriels Hill, Maidstone ME15

7,736 sq. ft

Local area information

Property location

Nearby amenities

  • Maidstone East 0.3 miles
  • Maidstone West 0.4 miles
  • Valley Invicta Primary School At East Borough 0.5 miles
  • Invicta Grammar School 0.6 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
  • 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
Description

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

More information

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  1. Zoopla
  2. Commercial for sale
  3. Kent
  4. Maidstone
  5. Gabriels Hill

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