Canterbury

South East Waitrose Anchored Convenience Centre with underlying redevelopment potential

In September 2020, Joiner Cummings acted on the sale of Waitrose in Canterbury on behalf of an institutional fund.

• Foodstore anchored convenience centre in a prosperous South East city.
• Located in the historic cathedral city of Canterbury, adjacent to the city centre and Canterbury College and Canterbury Christ Church University.
• Well configured purpose built supermarket and seven unit parade totalling 53,893 sq ft (5,006.82 sq m), along with extensive surface and basement level parking for 244 cars.
• Let to the 5A1 covenant of Waitrose on a 20-year lease, expiring 4th August 2031 (11.1 years unexpired) at a passing rent of £620,000 per annum, reflecting £14.93 psf.
• Total passing rent of £753,372 per annum, with 82% of the income secured against Waitrose.
• Attractive income profile with WAULT of 10.2 years to expiry.
• Extensive 2.16 acre freehold prominent corner site with excellent future potential for redevelopment at a higher density.