MapRetail property (high street) for sale
Features and description
Excellent mixed-use investment opportunity on the popular Black Bull Road, Folkestone. Offering a strong and reliable income stream of £26,160 per annum currently.
The property comprises:
Ground Floor Retail Unit – currently operating as a barber shop, let on a 20-year lease from December 2019.
First Floor Two-Bedroom Flat – accessed via a side gate, this well-presented flat is let to a long-term tenant.
Ground Floor One-Bedroom Flat – also accessed via the side gate and benefitting from use of the rear garden.
Both residential flats are on Assured Shorthold Tenancies (ASTs) with valid EICRs and Gas Safety Certificates, ensuring compliance and security for investors.
Location: Black Bull Road is a well-connected and established residential and commercial area of Folkestone. The property benefits from excellent local amenities and strong transport links, with Folkestone Central train station within easy reach, offering high-speed services to London St Pancras in under an hour. The M20 motorway and Channel Tunnel are also nearby, providing superb connectivity for both commuters and businesses.
With a popular location, established tenancies and further potential, this is a great turnkey investment for buyers seeking secure returns in Folkestone’s growing market.
Income breakdown below;
£830pcm - 1st Flat - based on current market value, could achieve up to £1000pcm if increased
£850pcm - 2nd Flat
£500pcm - Commercial unit
Rooms
Auctioneers Additional Comments
Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. 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.
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 equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
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