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Commercial Property for sale

Cheriton Place, Folkestone

Sold STC £89,950

Property Description

Key features

  • Town Centre Location
  • Busy One Way Thoroughfare
  • Attractive Frontage
  • Well Presented
  • Retail Area 395 sq ft/ 36.68 m2
  • Store Room 73 sq ft/ 6.82 m2

Full description

Attractive Town Centre Lock-Up Shop/ Micro Pub
(468 sq ft/43.50 m2 - Current Income £7,000 pa till 9th October 2017)

For Sale: Asking Price £89,950 - *** UNDER OFFER ***


The accommodation benefits from high arched window s and double doors and comprises (with approximate maximum measurements):-

Front Retail Area
19’4”/5.89 m wide x 11’10”/3.61 m deep.
Rear Retail Area
13’1”/3.99 m wide x 11’/3.35m average depth. NB the walls have been lined
Staff / Store Room
6’10”/2.08m wide x 10’9”/3.28m deep. W.C.

We are instructed by our client to ask £89,950 for the long leasehold interest of the premises.


The property is currently let under the terms of a law society lease dated 11th October 2017for a term of 5 years to expire 9th October 2017, at a passing rent of £7,000 per annum exclusive payable monthly.

Business Rates - From a search of the Valuation Office Website we have identified
Rateable Value - £5,100.00.
The rate in the pound for the financial year 2017/2018 is 46.6p small
Equivalent Rates Payable - £2,376.60 per annum
This property may qualify for small business rate relief. To seek to clarify applicants are advised to contact the local authority Shepway District Council on 01303 853000.

Use - We understand that the existing planning use of the property is within A4 of the Use Classes Order, but applicants should satisfy themselves as to the planning use with Shepway District Council (01303 850388).

Lease - The property is held under the terms of a long lease dated 29/9/1960 for a term of 999 years which is due to expire on 28/9/2959. It is understood that the ground rent is fixed at £5.00 per annum and the tenant is responsible to pay a 1/11th share of the maintenance and upkeep of the building as well as to contribute towards the insurance premiums paid in respect thereof.

Legal Costs - Each party is to be responsible for their own legal costs.

Epc - Available upon request

More information from this agent

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