Property for sale
Key information
Property description & features
- Tenure: Freehold
- Very Rare Opportunity
- Excellent Investment Opportunity
- Two Huge Buildings
- Central Town Location
- Planning Permission Granted For Exciting Development
- 2 Shop Fronts
- Full Building Freehold
- Chain Free
- Combination of Flats & Houses
- Fantastic Rental Return Potential
We are pleased to offer to auction this Extremely Exciting Investment Opportunity For Prime Real Estate In Folkestone Town Centre.
Two huge buildings consisting of two shops and multiple levels of residential spaces located in the very heart of the up and coming Folkestone town centre.
These properties consist of two commercial shops on the ground floor (currently converted into one large space) with a large basement (again opens up to create one large basement) and three/four further floors set over the two properties.
With planning permission already granted to create a large mixture of various size modern flats and even a three storey town house, there is great potential for an investor here. The photos and floorplans on this listing give a better overview of what the current buildings layout and granted planning permission development consist of, so we really would encourage you to look at these carefully before reading on.
Note - the internal photos have been created to give an impression of how the flats could look when completed and do not represent the current state as this work has yet to be completed.
There are a wide range of possibilities for the owner to sell these concerns individually, separately or other various rental options.
Work has already commenced, so we would highly recommend that any interested parties contact us to arrange for a viewing in person with us and the current developers to be able to fully appreciate the scale and potential.
The two shops units are currently occupied and producing a good rental return with the current tenant keen to be able to continue renting from the new owner if applicable.
This exciting development comprises two properties, but there is also the potential for each to be purchased separately at the cost of £500,000. Additionally there is the option to purchase individual elements of the properties, but as this listing is for the full freehold and both properties in completeness, this really does lend itself to the most profitable and exciting option for a new owner in our opinion.
Please note we have not inspected this property.
Rooms
Location
Guildhall street is perfectly situated in the heart of the town centre and just 10 minutes walk to Folkestone Central train station (with direct high-speed rail links to London St Pancras in under an hour). The famous Leas Promenade with coastal paths leading to the beach is but a ten minute walk away as well only a five minute walk down the old high street to the regenerated Harbour Arm and Creative Quarter. With the close proximity of Folkestone Central station, nearby transport links include the Eurotunnel, the M20 and Dover Ferry Port these premises in Folkestone are sure to appeal.
Accommodation
Two huge buildings consisting of two shops and multiple levels of residential spaces.
These properties consist of two commercial shops on the ground floor (currently converted into one large space) with a large basement (again opens up to create one large basement) and three/four further floors set over the two properties.
Planning
Planning permission already granted to create a large mixture of various size modern flats and even a three storey town house.
Tenure
2x freehold titles. Title numbers K71874 & K655783.
EPC
Available Upon Request.
5 - Rating D
7 - Rating F
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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Energy Performance data and Internal floor area
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