Prime Location
2 x 1 Bedroom Flats
Investment
Mixed Use
Freehold
Commercial unit and 2 x 1 bedroom flats - Freehold.
Conveniently located in Sandgate High Street, the freehold property consists of a commericial ground floor unit which is currently occupied and 2 x 1 bedroom flats. The property is situated within a convenience of local curio shops, independent restaurants and the beach in Sandgate with the nearby town of Folkestone being easily accessible. The local bus network runs services along the coast, whilst Folkestone Central provides a high speed train service into Central London as well as regional mainline rail links across Kent.
Folkestone has a number of regeneration projects with the development of Folkestone Seafront with over 700 apartments and the town of Otterpool as a new Garden Town in the next 25 years. www.folkestoneseafront.com and www.otterpoolpark.org
The property itself consits of a a 646 sq ft ground floor commercial property occupied as a micropub. A new 5 year lease is being negotiated at an initial rent of £6,200 per annum. The property is fully fitted as a bar with a kitchen to the rear and an undercover external storage area.
The first and second floor consits of two x 1 bedroom flats which are accessed via a seperate entrance. Flat 1 has an open plan living room and kitchen wiith a large bedroom and bathroom to the rear. Flat 2 has a living room and a seperate kitchen with a large bedroom and bathroom to the rear.
The property benefits from gas central heating and also UPVC double glazed windows.
Flat 1 is currently rented at £520 per calendar month.
Flat 2 is currently rented at £520 per calendar month.
Total: £18,680 per annum.
Business Rates: £5,500 Rateable Value with effect from 1st April 2023
Council Tax (Flats): A
Services: We understand mains drainage, water and electricity are connected to the premises.
Residential Energy Performance Certificate: Pending
Commercial Energy Performance Certificate: Pending
In England and Wales, under the new legislation, from 1st April 2018 any commercial property that has an EPC of lower than an ‘E’ cannot be rented out to new tenants, or renew any existing tenancy contracts until at least an ‘E’ rating is obtained. From April 2023, MEES will apply to all existing commercial leases. The vendor is in the process of improving the EPC rating.
Tenure: Freehold
Price: The price is £290,000 (no VAT).
VAT: We understand that VAT is not applicable however we recommend you seek advice.
Legal Costs: Each party to pay their own legal costs.
Viewings Strictly by appointment through Motis Estates Commercial Agents 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.
