Investment
Tenants in Situ
Motis Estates are proud to advertise a block of three apartments located on the south side of Grace Hill to the north-west of the junction of Foresters Way and Shellons Street with Grace Hill. Folkestone is within the jurisdiction of Folkestone and Hythe, approximately 14.4 miles to the south of Canterbury. The area has good road communications, with the subject property being located approximately 1.5 miles to the south-east of J13 of the M20. The property is approximately 0.8 miles east of Folkestone Central railway station. Folkestone Central railway station connects London St Pancras in under 1 hour.
The property is close to the main through flow to Folkestone Town Centre and to the Folkestone Harbour Arm with more than 100,000 visitors a year.
The property is a two storey (29) and single storey (31-33) premises which has Flat 29A, 29B, Stores at 31 and Flat 33, Grace Hill.
The two storey part of the premises (29) has separate ground and first floor one bedroom flats, part of 31 occupies the communal bin store, drying area and bike store with the remaining single storey part of the premises a single storey dwelling of 2 bedrooms. The property retains a number of period features.
The property is in a good condition and benefits from being in the process of external redecoration. Internally, the flats are in a good condition.
Flat 29A Grace Hill - 35 sq m
Flat 29B Grace Hill - 40 sq m
Bin Store and General Store, 31 Grace Hill - N/A
Flat 33 Grace Hill - 66 sq m
Total: 141 sq m
The Planning Portal states that the site is 180 sq m which we assume the difference is the bin store and general store.
The current rents being acheived:
Flat 29A Grace Hill - £545.00 pcm
Flat 29B Grace Hill - £572.00 pcm
Bin Store and General Store, 31 Grace Hill - N/A
Flat 33 Grace Hill - £800.00 pcm
The property will be sold with Tenants in Situ.
There may also be potential for a purchaser to apply for planning permission for an advertising board on the end wall, as this is one of only two routes out of Folkestone.
We have not inspected the Title Deeds but understand that the property is freehold on three titles with no onerous restrictions.
29 Grace Hill - K455040
31 Grace Hill - K583214
33 Grace Hill - K479580
Flat A, 29 Grace Hill, Folkestone, CT20 1HQ - Band A
Flat B At 29 Grace Hill, Folkestone, CT20 1H - Band A
33 Grace Hill, Folkestone, CT20 1HQ - Band A
We note from the EPC Register that the following EPCs are valid until 25th June 2030
Flat A, 29 Grace Hill - Band E (54)
Flat B, 29 Grace Hill - Band D (57)
33 Grace Hill - Band E (43)
Services: Water, Drainage and Electricity
07/10/2011 (Y11/0793/SH) - Change of use and conversion from offices and storage to form three self-contained dwellings, together with external alterations.
Viewing Strictly by appointment through Motis Estates Chartered Surveyors in Folkestone. 01303 212020 or commercial@motis-estates.com
SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).
IMPORTANT NOTICE FROM MOTIS ESTATES
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
IMPORTANT NOTICE FROM MOTIS ESTATES
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
