Please enable JS


Waitrose, St George's Centre CT1 1UL

Status: Sold

Date: 22 September, 2020

Type: Retail

Details: Download PDF

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.