Block of Apartments for saleDover Road, Folkestone, Kent
Offers in Excess of
- Freehold Residential Investment
- 5 no. 1 Bed Flats
- Fully Let
- £27,600 Income pa
- Closing Date for Offers Friday 19th May 2017
Residential Investment For Sale by Informal Tender. Former Public House that has been converted to 5 no. individual flats. It's fully let and generating c. £27,600 pa. Closing date for offers 19th May 2017.
Location - The site is located at the Dover Road / Harbour Road junction around ½ a mile east of Folkestone town centre, which provides a wide range of shops, eateries, leisure facilities and local services.
Folkestone Central station is around a mile to the west and provides services to London Charing Cross with a journey time of around 1 hour 50 minutes and high speed services to London St Pancras with a journey time of just over an hour.
Junction 13 of the M20 motorway is around 2.2 miles to the north west.
Property Description - The property occupies a site of c. 0.038 ha (c. 0.094 acres) in size. A former public house previously known as The Martello, the property is two storeys under a tiled pitched roof. It has been converted into 5 no. Self contained 1 bedroom flats with parking to the rear is parking as well as a small shared amenity area.
Tenancy Schedule - The properties are fully let on rolling 6 month shorthold assured tenancies and currently generates a combined monthly income of £2,300 per calendar month.
Flat 1, Date Start 11/08/2012, Rent £475 pcm
Flat 2, Date Start 27/05/2015, Rent £425 pcm
Flat 3, Date Start 02/06/2015, Rent £450 pcm
Flat 4, Date Start 04/06/2015, Rent £475 pcm
Flat 5, Date Start 01/04/2017, Rent £475 pcm
Further Information - Copies of the current Rental Agreements and other paperwork are available on request
Tenure - The site is to be sold on a freehold basis with tenants in situ on completion.
Vat - It is understood that VAT will not be applied to this transaction.
Viewing Arrangements - The property can be viewed externally from the public highway in daylight hours. Should you require a more detailed inspection of the property or individual flats prior arrangement will need to be made through the agent.
Offers - Offers in excess of £425,000 are sought on an unconditional (subject to contract) basis only by way of informal tender.
All offers must be made in writing to be received on or before 12 noon on Friday 19th May 2017.
Offers must be accompanied with evidence of funding and details of any due diligence that will be required prior to an exchange of unconditional contracts.
The vendor is not obligated to accept the highest or any bid made.
Agents Details - For further information please contact the agents:
Tel: 01634 835900
Mob: 07904 372142
155 High Street, Rochester, ME1 1EL
These particulars are for guidance and whilst we endeavour to make our details as reliable as possible if there is any point which is of particular importance please contact the office and we will be pleased to check the information for you. All measurements are as accurate as possible at time of going to press. All plans are not to scale.
More information from this agent
To view this media, please visit the on-line version of this page at www.rightmove.co.uk/property-for-sale/property-47776626.html
Map & Street View
Street View is unavailable in this location
Disclaimer - Property reference 26894381. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by RPC Land and New Homes, Kent. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.
Map data ©OpenStreetMap contributors.