Available
Folkestone – Public House & 3 Flats
11 Grace Hill, Folkestone CT20 1HAFreehold Public House & Residential Investment
Price
£450,000
Rent P.A.
£30,740
Yield
6.83%
Tenure
Freehold
Lease Term
6 Years 9 Months
Years Left on Lease
1y 8m
Area
3,000 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises public house on the ground floor, two self-contained flats on the first floor and a three-bed two-bath maisonette on the second and third floor
- Master bedroom with en-suite and balcony overlooking the sea
- Close to The Bouverie Place Shopping Centre , which is occupied by retailers such as ASDA Supermarket, Starbucks, Boots, Costa Coffee, TK Maxx , Subway, amongst many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises a ground floor public house with two self-contained flats on the first floor and three-bed maisonette on the second and third floor. The residential parts benefit from a separate entrance at the front, providing the following accommodation and dimensions:
Ground Floor Pub:
Main bar area, pool area, stage area, beer cellar and ladies & gents WC`s
First Floor Flat 1: 34 sq m (366 sq ft)
1 bedroom, kitchen/living room, bathroom
First Floor Flat 2: 41 sq m (441 sq ft)
1 bedroom, kitchen/living room, bathroom
Second/Third Floor Flat 3: 105 sq m (1,130 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Ground Floor Pub:
Main bar area, pool area, stage area, beer cellar and ladies & gents WC`s
First Floor Flat 1: 34 sq m (366 sq ft)
1 bedroom, kitchen/living room, bathroom
First Floor Flat 2: 41 sq m (441 sq ft)
1 bedroom, kitchen/living room, bathroom
Second/Third Floor Flat 3: 105 sq m (1,130 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Tenancy Description
The pub and flats 1 & 2 are at present let to an Individual for a term of 6 years and 9 months from 3rd March 2018 at a current rent of £20,540 p.a. and the lease contains full repairing and insuring covenants. Rent review on 03.03.23 (open market). Deposit held of £1,750.
Flat 3 is at present let on AST to an Individual for a term of 12 months from 15th March 2020 at a current rent of £10,200 p.a. Deposit held of £850.
Flat 3 is at present let on AST to an Individual for a term of 12 months from 15th March 2020 at a current rent of £10,200 p.a. Deposit held of £850.
Tenancies & Accommodation
Location Description
Folkestone is a port town on the English Channel, in Kent, south-east England. The town is located at the eastern end of the M20 which provides fast access to Ashford, Maidstone, London and also to the M25. Occupiers nearby include Folkestone Library, Lidl, Payers Car Park, amongst others. The Bouverie Place Shopping Centre is located within 5 min walk, which is occupied by retailers such as ASDA Supermarket, Starbucks, Boots Pharmacy, Costa Coffee, TK Maxx , Subway, amongst many more.
