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302, Canterbury Street, Gillingham, Kent, ME7 5JP - Image 1
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302, Canterbury Street, Gillingham, Kent, ME7 5JP

South East

£750,000
Listed on 09/10/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a unique opportunity for renovation and redevelopment, situated on the outskirts of Gillingham's town center, adjacent to Medway Maritime Hospital. The two-story building, previously utilized as a warehouse and trade counter, boasts significant potential for transformation into residential units or alternative uses, pending planning permission. The existing structure consists of substantial industrial space with open-plan warehouse areas and dedicated storage sections. Features include a main trade counter area with commercial access and a shutter door offering convenient entry for vehicles. The first floor contains additional office space alongside workshop facilities—creating a versatile environment that can be adapted to various needs. There’s also former living space that historically served as flats on both levels, hinting at its residential conversion possibilities. Indicative plans suggest that the current layout could be reconfigured to create up to 21 residential units, comprising one- and two-bedroom flats complete with amenity spaces. This aspect alone highlights the investment potential that this property holds in a market where demand for housing continues to rise. Located on Canterbury Street, the property benefits from excellent connectivity and local amenities. It is positioned within walking distance of Gillingham Town Center, which features a mix of national retailers and independent shops. The area is well-connected by road and rail; with quick access to the M2 motorway and direct train services to London St Pancras within approximately 44 minutes. Additionally, the surrounding neighborhood includes residential dwellings, local businesses, and educational institutions such as Byron Primary School, contributing to a vibrant community atmosphere. With a gross internal area of over 13,320 square feet spread across multiple functional spaces including offices and workshops, this property provides ample scope for creative redevelopment or reinvention tailored to contemporary needs. The small parking area allows for vehicle access while maintaining an efficient use of land. Overall, this former industrial site not only offers flexibility in usage but also stands out as a strategic investment opportunity in an increasingly competitive market landscape.

Investment Analysis

(ME7 area)
Area Average
£301/sq ft
Avg Rent (weekly)
£285
Avg Yield
5.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£800,000 - £1,200,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
43
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (ME7)

Area prices are rising by +6.7% over the last 12 months
3 year growth: 3.7%
5 year growth: 22.2%
Investment Disclaimer: Analysis based on ME7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

302, Canterbury Street, Gillingham, Kent, ME7 5JP
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,747
Based on a loan of £562,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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