Part of a high street is set to be sold at auction with a guide price of £1.3 million.
Four retail units make up the parade in Sheerness, which has been listed for sale by London-based auction house Acuitus.
A section of Sheerness High Street is up for auction. Picture: Acuitus
The 16,999 sq ft of unbroken freehold space is said to be in a “prime location” and is made up of a ground and first floor.
Commercial tenants include Iceland, Peacocks, Hays Travel and the former TSB, which together pay a combined annual rental income of £137,300.
The former bank unit is currently empty following the announcement in May 2024 that the company would be shutting more branches as part of a larger nationwide closure.
At the time, it stated that its customers were now doing most of their banking digitally.
A temporary hub, run by Cash Access UK, is up and running at The Hope Street Centre in the town centre.
It is made up of four retail units, which includes Iceland. Picture: Acuitus
One is currently unoccupied and was previously home to TSB. Picture: Acuitus
On the retail parade listing, it said: “The property is prominently situated on High Street, in the heart of Sheerness town centre.
“High Street forms the town’s principal retail pitch and benefits from strong pedestrian footfall.
“Nearby occupiers include Superdrug, Boots, Co-op supermarket and Greggs, together with a range of national and local retailers.
“Rose Street Car Park is located close by and provides parking for over 150 cars, serving the immediate shopping area.”
It has been given a guide price of £1.3m or more.
It has been given a guide price of £1.3 million. Picture: Acuitus
David Margolis, investment director and auctioneer at Acuitus, added: “High Street retail parades are popular with investors for their broad retail frontage in town-centre locations and prospect for active asset management opportunities, with upcoming lease renewal negotiations alongside the now unoccupied TSB, whose lease expires in February next year.”
The property auction is set to take place on Thursday, February 12, at 1pm.
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It will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.