CT9 22-23 Cecil Square, Margate

3-storey building approximately dating back to the early 190000s, purpose built in a Neo-Classical style for its former use as a Post Office. The property has been refurbished to a good standard by the current tenants, all mains services are connected. The property benefits from Air Conditioning, rear loading access. The ground rents above provide an invoice and from the ground rents above. The restaurant currently has 40 covers, there is the potential to have significantly more. The 8 flats above have been sold off on 125 year leases, with the sale including the freehold to the flats and therefore the benefit of the ground rent income.

Situated on the Corner of the historic Cecil Square and Cecil Street. Nearby traders include Costcutter, Paydens Chemist, Morrisons and various retailers in College Square Shopping Centre. In addition, the law courts, council offices and library are found in Cecil Square.

The property is just a short distance away from Margate Old Townnn and the Turner Contemporary Gallery, both popular local tourist attractions. There is short term parking available in the High Street and also within about 500m there is a long stay car park.

Air Conditioning

NIY of 8.88% on the total income, with purchaser's costs at 4.4%

Rear loading access

40 Covers with potential for more

All main services connected