Summary - 8, TONTINE STREET CT20 1JU
12 bed 1 bath Shop
Large redevelopment site with immediate rental income and clear extension potential.
Prominent Georgian/Victorian corner building with three street frontages
A substantial mixed-use corner property in Folkestone's Creative Quarter, offered with six flats and three commercial units. The ground floor contains a nightclub (unique local 3am licence), snooker hall and takeaway, producing current and immediately scalable rental income. The site includes a sizeable rear area and an optional garage/store for separate purchase.
This is a value-add investment for a buyer comfortable with redevelopment and active asset management. There is explicit scope, subject to planning (STPP), to extend at the rear and refurbish the six flats to improve yields. Total potential annual income when fully let is stated at c. £128,700, supported by existing ASTs and a new five-year nightclub lease starting October 2024.
Buyers should note material constraints: the area is described as very deprived with high crime and medium flood risk. Broadband speeds are slow, and some commercial EPCs are expired or pending. Part of the rear land carries an overage deed and additional legal due diligence will be required. On-street parking only, with public car parks nearby.
This opportunity suits investors or owner-occupiers seeking a prominent harbourside footprint with redevelopment upside. The property will suit hands-on owners or developers prepared to manage refurbishment, licensing and planning progress to unlock the full rental and redevelopment potential.
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