22 High Street

Whitstable

An integral constituent of this transaction was the development of the upper parts into two apartments.

Acquired with vacant possession, this property was purchased unconditionally.

With known retailer requirements in the town, the decision was made to progress with Specsavers given the parties had previously transacted in Redhill.

Planning consent was obtained for the conversion of the upper parts to residential and following the remodelling of the retail, the upper parts were refurbished and sold.

STRENGTHS

  • Prime pitch in the town with upper parts intact
  • Sale with vacant possession

OPPORTUNITIES

  • To separate the upper parts and develop into residential apartments
  • To lease the shop to one of a number of known multiple retailer requirements

WEAKNESSES

  • Lack of car parking a concern for residential refurbishment of the upper parts
  • Shop needed a small extension to suit Specsavers

Threats

  • Planning risk
  • Lack of car parking (not uncommon in Whitstable) hampering residential sales