Freehold
GUIDE PRICE £140,000-£160,000. Freehold Investment with the 3 Flats Above sold on 999 year leases.
The property being offered to the market is a commercial shop let at £800pcm increasing to £900pcm in March 2024 as an investment at 7.71% yield.
The property is situated in a prominent position in Hythe High Street. Hythe High Street is predominately retail shopping, restaurants, banks and building societies with a number of offices and residential properties above. There are a number of pay and display car parks in the vicinity. Hythe is approx. 4 miles from Folkestone which has direct links to London St Pancras within 56 minutes on HS1. The Port of Dover is approx. 13 miles east with links to the continent.
The ground floor is a commercial shop which is approx 30 sq m of ground floor space which is currently leased on a FRI lease.
Tenancies
Commercial - The property is let on a 3 year lease from March 2023 at a rent of £800pcm with a rental increase in March 2024 to £900pcm. Full lease available upon request.
Use: E Use Class
Energy Performance Certificate: 54 (C) - Full EPC available upon request valid until April 2031.
Rateable Value: To Be Advised
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.
