- Fully let mixed-use investment producing £14,980pa currently
- Ground-floor Coral lease to 10/10/2027 at £5,500pa
- Upper flat on rolling monthly tenancy at £9,300pa
- Requires roof repairs and general refurbishment throughout
- Built 1930–1949; cavity walls assumed uninsulated
- Sold by Modern Method of Auction; buyer reservation fee applies
- Located in an area of deprivation with above-average crime
- Freehold, 893 sq ft, small plot, fast broadband and excellent mobile
A centrally located Victorian mixed-use building offered as a fully let investment with immediate income and clear value-add potential. The ground floor is let to Coral Bookmakers until 10/10/2027 at £5,500pa, while the upper flat is on a rolling monthly tenancy at £9,300pa — current combined income £14,980pa with scope to increase rents. The property is freehold and spans approximately 893 sq ft over three floors, suitable for an investor seeking a compact high-street holding.
The building shows signs of neglect to the roof and general wear consistent with a property that needs refurbishment; the ground-floor retail fit-out is dated and the upper accommodation requires updating. Construction dates from the 1930s–1940s, with cavity walls assumed to be uninsulated, double glazing installed post‑2002 and gas central heating via boiler and radiators. These are practical upgrade opportunities for a buyer planning a refurbishment programme to enhance rental value.
Sale is via the Modern Method of Auction: bidders should factor in the Reservation Fee (4.5% of the purchase price inc. VAT, minimum £7,080) and a £349 Buyer Information Pack. Completion occurs within a 56‑day reservation period. The immediate income profile makes this suitable for a buyer prioritising yield and short-term cashflow, but budget for capital works and confirm all lease details and tenant status before bidding.
The property sits on Canterbury Road in Folkestone, a town undergoing regeneration with good transport links and fast broadband. Local area data indicate higher‑than‑average crime and economic deprivation, which may affect lettability and rental growth potential; balance this against the town’s improving profile and strong commuter connections to London.
