181 High Street, Chatham, KEN

The property comprises a traditional period building arranged on basement, ground and three upper floors.
The property is located in a prime position on the north side of the pedestrianised High Street close to its junction with Meeting House Lane and the entrance to the 325,000 sq ft Pentagon Shopping Centre.

Chatham is one of the Medway towns and is an established and busy retail centre having an estimated shopping population of some 125,000. The total population within the Chatham primary catchment area is 259,000 people (PROMIS). The town is located adjacent to the City of Rochester 28 miles (45 km) south east of Central London between Junctions 2 and 3 of the M2 motorway. The town also benefits from fast and frequent rail connections to
London Victoria.

Sale Notes:
The investment comprises ground floor, providing a retail unit whilst the tenant uses the first floor for
ancillary purposes and storage. The basement, second and third floors are held on a separate lease accessed via the adjoining property at Nos. 183/187 High Street and forming part of the adjoining Pentagon Shopping Centre.
Offers invited in the region of £400,000 to show a net initial yield of 10.5% having allowed for purchase costs of 4.8%

Let to Optical Express Ltd expiring 19th May 2013 and Co-operative Group (CWS) Limited (assigned to the owners of the Pentagon Shopping Centre) expiring 7th December 2070. Total rent receivable £44,000 pa.