Mystery Canterbury high street restaurant hits market for £2.25m
Published: 12:18, 06 October 2023
Updated: 13:49, 06 October 2023
A successful high-street restaurant chain has hit the market for £2.25 million but bosses remain tight-lipped over the brand’s identity.
After advertising the nondescript firm in a series of glossy images, estate agents have stoked speculation over which large diner could change hands in Canterbury.
Alongside the significant price tag, Nationwide Business Sales describes the “large successful restaurant” in Westgate as one of two up for sale in the county.
But the blurb on property website Rightmove stops short of unveiling exactly which of the area’s many eateries has gone on the market.
The city branch comes complete with two two-bedroom flats which could be rented for residential use or used as holiday lets, the advert says.
The estate agent calls the Canterbury eatery one of two under the brand name in the county and says the business currently has a healthy turnover and is profitable.
It currently marks the property location as being around St Peter’s Street, home to various famous restaurant brands, which is a stone’s throw from Westgate Tower.
Also up for grabs is a separate spot occupied by the brand’s second venue, though it is unknown whether it is in the city or another Kent town.
Both properties that come with the restaurant group could be converted into retail units if proper planning permission was given, an option which will no doubt help boost interest as the owners look to cash in.
Nationwide Business says it has been instructed to sell two restaurants together either freehold or leasehold.
The deal has been valued at £2.25 million for the freehold or £225,000 for the leasehold alongside an £80,000 passing rent with offers being invited.
The current restaurant boss is the freehold owner of the building and terms surrounding the lease could also be up for negotiation.
A Nationwide Business spokesperson said it is not able to clarify who the restaurateur is due to business sensitivities.
Should the sale go through it would form part of the continuous shift the city centre has recently seen.
One business in St Peter’s Street, Herd, a luxury steakhouse boasting £56 chocolate-fed cuts of meat, suddenly closed its doors for good in July - little more than a year after opening.
And the latest big-name departure from Canterbury was Wilko, which brought down the shutters after more than 20 years in the city centre on Tuesday after the company went into administration last month.
More by this author
Max Chesson