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Accommodation
The property has been measured by Robertson Elliot and provides the following Net Internal Areas:
| Unit 2 | ||
| Zone A | 34.92 sq m | 376 sq ft |
| Zone B | 19.96 sq m | 215 sq ft |
| ITZA | 483 sq ft | |
| Ground Floor Total | 54.88 sq m | 591 sq ft |
| First Floor | 12.91 sq m | 139 sq ft |
| Total | 67.79 sq m | 730 sq ft |
| Unit 4 | ||
| Zone A | 31.31 sq m | 337 sq ft |
| Zone B | 28.27 sq m | 304 sq ft |
| ITZA | 489 sq ft | |
| Ground Floor Total | 59.58 sq m | 641 sq ft |
| First Floor | 21.29 sq m | 229 sq ft |
| Total | 80.87 sq m | 870 sq ft |
| Unit 6 | ||
| Zone A | 30.16 sq m | 325 sq ft |
| Zone B | 24.81 sq m | 267 sq ft |
| ITZA | 458 sq ft | |
| Ground Floor Total | 54.97 sq m | 592 sq ft |
| First Floor | 18.34 sq m | 197 sq ft |
| Total | 73.31 sq m | 789 sq ft |
| Unit 8 | ||
| Zone A | 22.55 sq m | 243 sq ft |
| Zone B | 20.07 sq m | 216 sq ft |
| ITZA | 351 sq ft | |
| Total | 42.62 sq m | 459 sq ft |
| Unit 10 | ||
| Zone A | 31.67 sq m | 341 sq ft |
| Zone B | 23.84 sq m | 257 sq ft |
| ITZA | 469 sq ft | |
| Ground Floor Total | 55.51 sq m | 598 sq ft |
| First Floor | 21.28 sq m | 229 sq ft |
| Total | 76.79 sq m | 827 sq ft |
A copy of the measured survey is available to download.
Rateable Value
According to the Valuation Office website the rateable values for the property are as follows:
| Address | Description | Rateable Value |
| 2 The Marsh | Shop & Premises | £10,500 |
| 4 The Marsh | Shop & Premises | £12,250 |
| 6 The Marsh | Shop & Premises | £12,250 |
| 8 The Marsh | Shop & Premises | £7,600 |
| 10 The Marsh | Shop & Premises | £12,000 |
Tenure
Freehold.
Tenancy
The property is multi-let to five tenants in accordance with the tenancy schedule, which is available to download, producing a total passing rent of £71,350 per annum.
To summarise:
2 The Marsh
Let to Brookerkelly Limited (t/a Cards For All Occasions), with surety from Keith & Anne Gosney, on a full repairing and insuring lease for a term of 5 years from 1st January 2026, expiring on 31st December 2031. The current passing rent is £14,200 per annum.
The tenant has been in occupation since 2014 and recently renewed their lease, demonstrating their commitment to this location. The rent increased from £13,650 per annum.
4 The Marsh
Let to Save The Children Fund on a full repairing and insuring lease for a term of 10 years from 25th March 2015, expiring on 24th March 2025. The current passing rent is £14,400 per annum. The tenant is currently holding over.
6 The Marsh
Let to Fred.Olsen Travel Limited on a full repairing and insuring lease, subject to a Schedule of Condition, for a term of 6 years from 27th February 2026, expiring on 26th February 2032. There is a tenant’s break option on 27th February 2029, subject to six months’ written notice. The current passing rent is £16,000 per annum. The lease is outside 1954 Act protection.
The tenant has been in occupation since 2019 and recently renewed their lease, demonstrating their commitment to this location. The rent increased from £15,500 per annum.
8 The Marsh
Let to Direct Carpets Hythe Limited, with surety from Victoria Woolley, for a term of 5 years from 8th September 2023, expiring on 7th September 2028. The current passing rent is £12,000 per annum. A rent deposit of £3,600 is held by the Landlord. The lease is outside 1954 Act protection. The tenant has a right to use one car parking space at the rear of the property.
The lease is subject to a tenant break option on 8th September 2026, subject to six months’ prior written notice, i.e. 8th March 2026. The tenant has not exercised this break, demonstrating their commitment to this location.
10 The Marsh
Let to Jeffrey R Shorter & Paul M Dettmer (t/a Paul Jeffreys Estate Agents) on a full repairing and insuring lease for a term commencing on1st April 2006, expiring on 20th April 2027. The current passing rent is £14,750 per annum.
Flats 1-8 Marsh House
The residential upper parts are let to Tonepark Limited for a term of 999 years from 2nd March 2018 at a peppercorn rent.
EPC’s
| 2 The Marsh | C | Valid until February 2035 |
| 4 The Marsh | C | Valid until November 2032 |
| 6 The Marsh | C | Valid until February 2035 |
| 8 The Marsh | C | Valid until February 2035 |
| 10 The Marsh | C | Valid until August 2035 |
Covenants
Brookerkelly Limited (t/a Cards For All Occasions) was incorporated in September 2002 and is an independent card and gift shop.
Founded over 100 years ago, Save the Children is a registered charity with a worldwide staff of around 24,000 in 93 countries, plus volunteers running over 100 shops and organising 300 local fundraising branches. For the year ended 31 December 2024, Save The Children UK reported a Total Income of £304,834,000 and Total Net Assets of £70,009,000. For further information visit www.savethechildren.org.uk.
Fred.Olsen Travel is a travel agency established in 1988 selling worldwide holidays, cruises, city breaks and other travel services through its high-street shops and online channels. It currently operates 23 retail travel branches across East Anglia and the south coast of England. For further information visit www.fredolsentravelagents.co.uk.
Direct Carpets Hythe Limited is an independent carpet and flooring retailer.
Paul Jeffreys Estate Agents is an independent family-owned estate agents established in 1992, providing sales and lettings services and managing approximately 100 properties. For further information visit pauljeffreys.co.uk.
All rental payments are up to date with no arrears. A payment history is provided in the data room.
VAT
The property is VAT elected. It is anticipated (subject to the purchaser’s VAT status) that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek a figure of £677,000 (Six Hundred and Seventy-Seven Thousand Pounds, subject to contract, reflecting a net initial yield of 10%.
Please note that a purchaser will be re-charged the costs of the searches (£1,755.90 + VAT) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
Investment Considerations
An opportunity to purchase a multi-let retail investment;
Situated within an attractive Hampshire town and popular tourist destination;
Prominently positioned within the heart of Hythe town centre;
Fully let to five tenants, providing a spread of income;
Three of the five tenants have recently renewed their leases or waived their break option, demonstrating their commitment to this location;
An opportunity to engage with Save The Children regarding a lease renewal;
Attractive net initial yield;
Attractive lot size for an investor.
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Data Room
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