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231-233 Cheriton Rd 602 sq ft Retail Unit Offered at £165,000 in Folkestone CT19 4AX
INVESTMENT HIGHLIGHTS
- Located on small retail parade
- Good visibility to passing traffic
- Neighboured by Folkestone West train station
EXECUTIVE SUMMARY
The property is situated in a very prominent position in Cheriton Road (B2064) in a parade of shops including Dominos with KFC, Morrisons and a number of independent retailers in close proximity.
PROPERTY FACTS Sale Pending
| Total Property Size | 3,512 sq ft | Typical Floor Size | 1,171 sq ft |
| Property Type | Retail (Unit) | Year Built | 2003 |
| Property Subtype | Shopfront Retail / Residential | Total Plot Size | 0.09 ac |
| Costar Property Class | B | Parking Allocation | 2.56/1,000 sq ft |
| Floors | 3 |
| Total Property Size | 3,512 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 3 |
| Typical Floor Size | 1,171 sq ft |
| Year Built | 2003 |
| Total Plot Size | 0.09 ac |
| Parking Allocation | 2.56/1,000 sq ft |
AMENITIES
- Security System
- Signage
1 UNIT AVAILABLE
Unit 231
| Unit Size | 602 sq ft | Sale Type | Investment |
| Price | £165,000 | Tenure | Freehold |
| Price Per sq ft | £274.09 | Net Initial Yield | 6.91% |
| Unit Use | Retail | NOI | £11,400 |
| Unit Size | 602 sq ft |
| Price | £165,000 |
| Price Per sq ft | £274.09 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 6.91% |
| NOI | £11,400 |
DESCRIPTION
The unit provides 602 sq.ft of retail space on the ground floor.
SALE NOTES
The property is let on a 15 year lease inside the 1954 act from May 2021 at an initial rent of £11,400 per annum increasing to £12,492 from Year 5 and to £13,500 from Year 10. There is a tenant only Break Clause on the 5th anniversary.
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231-233 Cheriton Rd
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