Shop for sale
Property description & features
- Tenure: Freehold
A three-bedroom maisonette and a commercial shop less than a mile from Folkestone Central station is being offered to the market as an investment at 7% yield.
The property consists of a ground floor retail shop and a three bedroom maisonette which has a seperate access. The front door leads into a good sized entrance where there is a bathroom to the left which has a seperate corner bath and shower cubicle. The bathroom has laminate flooring and is part tiled on the wall. There is a utility room adjacent which has a stainless steel sink. The ground floor also consists of the kitchen which has a generous amount of cupboards, there is an integrated electric hob and cooker. There is also an open plan living room and open plan dining room.
The first floor consists of two double bedrooms and a single bedroom, all with built in storage. There is also a useful cupboard on the landing. There is Gas Central Heating and Double Glazing.
Externally, there is a small decking area suitable for a table and chairs
The ground floor is a commercial shop which is approx 136 sq m of ground floor space which is currently leased on a FRI lease.
Tenancies
Commercial - A lease renewal of 5 years from 25th March 2023 at £10,500 per annum. The owner has confirmed that all rent has been paid on-time for 18 years.
Residential - An AST was formed on 16th February 2023 at a rent of £995 per month - The owner has confirmed that all rent has been paid on-time.
Use: E Use Class
Energy Performance Certificate: 105 (E) - Full EPC available upon request.
Services: Water, Drainage, Gas and Electricity
Rateable Value: £7,000 (Folkestone and Hythe District Council (2023/2024). Small Business Rates Relief eligible.
Council Tax: Band B
Viewing Strictly by appointment through Motis Estates Chartered Surveyors in Folkestone.[use Contact Agent Button] or [use Contact Agent Button]
SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).
Places of interest
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Property reference MOTIS_005098. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Motis Estates - Folkestone.
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Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on July 21, 2023
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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