100% Prime, Highly Secure South East Retail Investment

WHSmith | 38-42 Week Street | Maidstone | ME1 41RP


subject to contract

Click To Purchase


  • 100% prime retailing pitch

  • Let to WH Smith Retail Holdings Ltd (Net Worth £890m)

  • Tenant has been in occupation since 1984

  • Rent rebased from £319,000 pa to £250,000 pa in 2015

  • Passing rent equates to just £10.90 psf

  • Freehold

  • Post Office moved from Bank Street to the subject property in 2016

  • Potential future development of the upper parts and service yard, subject to planning

  • Potential to extend the second floor and add another storey, subject to planning

  • The only WHSmith in Maidstone

  • £2,950,000, subject to contract

  • 8% net initial yield



Maidstone is the administrative centre of Kent and the county’s largest town, located approximately 32 miles (51.5 km) south east of London, 20 miles (32 km) north west of Ashford, 27 miles (43 km) west of Canterbury and 38 miles (61 km) north east of Crawley.

Maidstone benefits from excellent road communications being situated within 2 miles of Junctions 5, 6 and 7 of the M20 motorway. The M20 runs along the north of the town and connects to the M25 which in turn provides direct access to the wider motorway network.

The town is served by three railway stations, Maidstone East, Maidstone West and Maidstone Barracks. The town benefits from regular and direct journeys to London Victoria and London St Pancreas with fastest journey times being approximately 1 hour.

London City Airport is located 37 miles (59 km) north-west of Maidstone and London Gatwick is located 41 miles (66 km) south west.

Maidstone has a large catchment population of approximately 330,000 persons and has a fast growing population, expected to exceed the UK average growth forecasts of 8% by 2025, (www.maidstone.gov.uk).


The property occupies a 100% prime retailing pitch on the pedestrianised Week Street. The immediate vicinity is one of the best retailing locations in Kent and the best retailing location in Maidstone.

The subject property is the only WHSmith in Maidstone with the closest branch being in a motorway service station followed by the WHSmith in Gillingham, 7 miles (11.25 km) away.

The property is adjacent to an owner-occupied Marks & Spencer store and an EE shop and directly opposite the main entrance to Fremlin Walk which is Maidstone’s primary shopping centre comprising approximately 350,000 sq ft (33,000 sq m) of retail and restaurant accommodation. Built on the site of an old Kentish brewery, this centre elevated Maidstone into the United Kingdom’s top 50 shopping destinations. The scheme is anchored by House of Fraser and benefits from 760 car parking spaces. Occupiers include Pret a Manager, 5 Guys, Costa Coffee, H&M, JD Sport, Hotel Chocolat, Pandora, River Island, Superdry and Zara.

Other nearby occupiers include, Mc Donalds, Primark, Superdrug, Toni & Guy, Clarks, EE, Poundland and Metro Bank.

Plans for a 9 storey, 132 room hotel with a rooftop bar on the site of the former Mothercare (12-14 Week Street) have been approved – Planning Reference Number:19/505518/FULL



The property comprises an impressive retail premises arranged over basement, ground, first and second floors with a service yard to the rear of the property. The property is easily accessed from both Week Street and Church Street and has independent access to all floors from the front of the shop.  

The ground, and first floors consist of sales accommodation with the basement and second floors being used as staff and ancillary accommodation.

The property benefits from two goods lifts, a rear yard for deliveries, with a loading bay, roller shutterss, car parking spaces and an ATM machine.

As demonstrated in the aerial photography, there is potential to substantially extend the second floor onto the flat roof, to add an additional storey to the property in line with other properties along the parade and to build upon the rear yard, subject to planning permission.

The property is underpinned by future redevelopment value with the council having provided positive feedback for a 62-unit residential led scheme and or supported housing. 


A set of detailed and scaled WHSmith floor plans are available to download from the downloads section.

The property has the following Net Internal Areas:

Ground Floor 1,090.10 sq m 11,734 sq ft
First Floor 919.7 sq m 9,899.57 sq ft
Second Floor 111 sq m 1,194.80 sq ft
Basement 7.9 sq m 85 sq ft
Total NIA 2,128.7 sq m 22,913.37 sq ft

The property has a site area of approximatley 0.4 acres. 





The property is fully let to WH Smith Retail Holdings Limited, on a full repairing and insuring lease for a term of 10 years from 24th June 2015, expiring on 23rd June 2025 at a passing rent of £250,000 per annum.

In 2015, the rent was re-based downwards from £319,000 per annum.

The passing rent now equates to just £10.91 psf.

WHSmith have been in occupation since 1984.

August 2016, The Post Office moved from Bank Street to the subject property following the signing of a 10-year franchise agreement with WH Smith across many stores, therefore the franchise agreement expires after the expiry date of the occupational lease.

In February 2019, WHSmith took over the running of the Post Office within the subject property, it is reasonable to suggest that this demonstrates the success of this branch.

The Post Office would seem to ccompliment the wide range of WHSmith products and visa versa.



WHSmith is one of the longest standing chain stores in the world, being founded 230 years ago. The brand is now one of the leading retail groups and household names in the United Kingdom.

With over 600 high street stores in the United Kingdom and an additional 275 stores across 25 countries the company has also become and internationally recognised brand, servicing over 240 million customers worldwide every year.

WH Smith Retail Holdings Limited (00471941) has reported the following figures:

  31 August 2020 31 August 2019 31 August 2018
Turnover £181,561,000 £187,524,000 £180,610,000
Pre-Tax Profits (£45,856,000) £116,655,000 £115,766,000
Total Net Worth £890,889,000 £614,113,000 £440,781,000

The pre-tax loss reported in the company’s 2020 accounts is as a result of shops having to shut during national lockdowns and due to COVID travel restrictions. WH Smith operate many shops within airports and transport hubs. [Source: WH Smith Retail Holdings Limited Accounts 31 August 2020]

On 11th November 2021, WH Smith released exceptionally positive preliminary results for the year ended 21 August 2021 showing a strong balance sheet and access to over £350m of liquidity. Due to improving trends in travel, total travel revenue is at 84% of October 2019 revenue. [Source: WH Smith preliminary results] 

The company are also due to open 100 new stores and has successfully won all 30 technology store contracts across UK airports with its brand InMotion now being the global leader in this category. The company have also experienced record performance from funkypigeon.com

For further information visit www.whsmith.co.uk.


The property has been opted for tax and it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).



We are instructed to seek offers of £2,950,000 (Two Million Nine Hundred and Fifty Thousand Pounds), subject to contract. This price reflects a net initial yield of 8%, assuming purchasers’ costs of 6.44%.

Please note that a purchaser will be re-charged the cost of searches which are provided in the data room and amount to £723.89.

Investment Considerations

  1. The only WHSmith in Maidstone;

  2. Tenant has been in occupation since 1984;

  3. The immediate vicinity is the best retailing pitch in Maidstone;

  4. The Post Office have moved into the property;

  5. Re-based rent from £319,000 pa to £250,000 pa;

  6. Valuable service yard at the rear with loading bay and parking;

  7. Substantial site with significant future development potential, subject to planning;

  8. Attractive yield for an investor;

  9. Purchase price reflects just £129 per square foot.


Data Room and clicktopurchase®

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Contact Us

Singer Vielle   +44 (0) 207 935 7200
Daniel Elia daniel@singervielle.co.uk +44 (0) 203 701 1353
Dale Henry dale@singervielle.co.uk +44 (0) 203 701 1356
Neil Singer neil@singervielle.co.uk +44 (0) 203 478 9120

Vendors Solicitor

Forsters LLP  +44 (0) 207 863 8488
Amy France amy.france@forsters.co.uk