9 bedroom flat for sale

OPEN DAY SATURDAY 19TH OCTOBER

Situated in the heart of the bustling coastal town of Folkestone, we are delighted to offer a lucrative investment opportunity by presenting this well-appointed block of six flats to the market. This property, which generates a substantial annual income of £47,500, has been well maintained and promises a seamless transition for any discerning investor.

The block of flats is being offered for sale with the added benefit of the freehold and individual leases for each flat. The opportunity to acquire both the freehold and individual leases ensures a hassle-free ownership experience and provides the flexibility to manage each unit independently, tailoring to the specific needs of the prospective investor.

Boasting a prime location in central Folkestone, the property offers easy access to an array of amenities, including the vibrant town centre, with its diverse range of shops, restaurants, and entertainment options. Public transport links are also conveniently located within a short walking distance, ensuring excellent connectivity to surrounding areas and beyond.

The property comes with long-standing tenants in situ, contributing to the stability and reliability of the rental income. This block of flats offers a unique opportunity for investors seeking a low-risk investment with consistent cash flow.

For those looking to maximise their return on investment, there is potential to increase the rents in line with current market values. The existing rental income, combined with the prospect of enhancing profitability through strategic rental adjustments, underscores the promising investment prospects that this property presents.

In addition to the financial incentives, the property's prime location and well-maintained condition further enhance its appeal as a sound investment opportunity. Prospective buyers can rest assured that the property has been diligently maintained, minimising the need for immediate renovations or repairs.

In conclusion, this block of six flats represents a compelling investment opportunity in the vibrant coastal town of Folkestone. With a strong rental income, the security of long-term tenants, and the potential for rental growth, this property holds significant promise for investors seeking a reliable source of passive income. The convenience of owning the freehold and individual leases, combined with the property's central location and upkeep, makes this an attractive proposition for those looking to expand their property portfolio. Don't miss out on this chance to secure a solid investment in one of Folkestone's most sought-after locations.

The property has brick and block construction and has had no adaptions for accessibility.

Please note that there is currently a tenant in-situ and they could be required to be given up to 2 months’ notice to vacate the property.

These property details are yet to be approved by the vendor.

Identification checks
Should a purchaser(s) have an offer accepted on a property marketed by Miles & Barr, they will need to undertake an identification check. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use a specialist third party service to verify your identity. The cost of these checks is £60 inc. VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.