3 Beach Walk 849 sq ft Retail Property Whitstable CT5 2BP £695,000 (£818.61/sq ft) 4.06% Net Initial Yield

The property is a café/restaurant located seconds from Whitstable beach and just moments away from the harbour and town centre. The property consists of a restaurant area and access through to the kitchen area. There is also an external W/C. With its own separate entrance, the first floor boasts a stunning refurbished 2 Bedroom Flat, with great sea views.
Location
Whitstable is a fashionable seaside town in East Kent known for its oyster farming, water sports and popular for the numerous seafood restaurants. There is a vibrant music and arts scene which attracts celebrities and others seeking a relaxed but cultured break. Whitstable has featured many times over recent years in the national press, coinciding with a growth in holiday lettings and second home ownership. There has, over the last ten years, been a shift in the population demographic that reflects a rising middle-class/professional influx as well as an in-pouring of the affluent “Grey” retiree group.
Property Overview
Location: Beach Walk, Whitstable
Price: £695,000
Total rental income: £28,200 p.a. with outstanding rent review on Café due on 01/09/2024; the sellers will leave the rent reviews to be determined by the buyers. Buyers need to satisfy themselves, but we consider there is scope for an uplift in rent.
Type: Mixed-use property (Café and self-contained apartment above)
Investment Highlights
Prime location in a popular seaside town known for its charm and tourism.
Established rental income from both the café and apartment.
Potential for capital appreciation due to desirable location and ongoing demand for coastal properties.
Opportunity for further development or enhancement of the café space.
Apartment Details
Current Lease: AST for 12 months from 15/11/2024 @ £1,100 per month
2 Bedrooms, a Dining room/Living room, kitchen and shower room
Views: Stunning sea views
Café Details
Current Rent: £15,000 per annum on a full Repairing & Insuring lease, subject to review as noted above.
Use
The permitted use is as a retail shop within Class E of the Town and Country Planning (Use Classes) Order. It is considered that the property may be suitable for a variety of different uses, subject to all usual consents being obtained.
Rates
The property has a rateable value of £10,750
Council Tax
A for Apartment
EPC
Please see tenancy schedule