Prime Rebased Freehold Retail Investment

Secured to Lloyds Banking Group plc

• Rare opportunity to acquire a prominent freehold retail banking investment in the heart of Canterbury, one of the South East’s most historic and affluent cathedral cities.
• Highly prominent corner building occupying a prime location at the junction of High Street and St Margaret’s Street.
• Lloyds Banking Group recently renewed its lease commitment on a new five-year term at a rebased rent of £185,000 per annum (previous passing rent of £270,000 per annum)
• Let to Lloyds Banking Group plc (classified by Creditsafe as ‘very low risk’) for 5 years  from July 2026.
• Lloyds Banking Group will undertake a significant refurbishment commencing in January 2027. Having recently renewed for a further 5 years, following at least 30 years of occupation, this provides further evidence of the strategic importance of the branch within its network.
• Attractive Grade II Listed building of significant architectural character.
• Freehold.

Proposal

We are instructed to seek offers in excess of £2,400,000 (Two Million Four Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 7.25%, assuming standard purchaser’s costs of 6.36%.