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- Unbroken Block of 10 apartments located in the heart of Folkestone Town Centre, just 0.6 mile from Folkestone Central Station.
- Folkestone Central and Folkestone West Stations offer direct services into London St Pancras in 53 minutes.
- Accommodation comprises 4 x 2 beds, 6 x 1 beds.
- NIA – 5,223.77 sq ft.
- The ground floor commercial premises (Use Class E) will be retained by the vendor on a 999 year leasehold interest
- The majority of the apartments along with the communal areas and façade of the building have recently undergone a thorough refurbishment.
- Freehold.
- All apartments currently let on ASTs producing an annual rent roll of £82,500 per annum.
- Potential to increase the rents to in the region of £90,000 per annum.
- We believe at our Guide Price, this offers a significant discount to the potential breakup value.
- We are instructed to quote OIEO £1,050,000 (One Million & Fifty Thousand Pounds) subject to contract. This equates to a low capital value of £201 per sq ft and reflects a gross yield of 7.85% against the existing income and 8.6% against the ERV.
