75 Sandgate Rd 984 sq ft Retail Property Folkestone CT20 2AF £205,000 (£208.33/sq ft) 8.23% Net Initial Yield

Motis Estates are proud to offer a Freehold Commercial Shop with Upper Parts that have been sold on long leases on Sandgate Road adjacent to Nationwide Building Society in the centre of Folkestone. There are a number of Estate Agents, Barbers and other retail stores within the vicinity.

The ground floor property has the benefit of a 10 year lease from 2024 at a current rent of £16,250 per annum with an increase ion 31st October 2025 to £17,250 per annum and a rent review on the 5th anniversary. There is no tenant break clause. A copy of the lease is available upon request. The upper parts are subject to two long leasehold flats.

The Lease is inside the provisions of the Landlord and Tenant 1954 act.

The tenant have been in occupation for a number of years.

USE: Any use within Class E of the Town and Country Planning Act (Use Classes) Order 1987.

The tenants will be responsible for electricity, water and drainage and a contribution towards the insurance premiums paid and maintenance and upkeep of the building.

From a search of the Valuation Office Website we have identified a Rateable Value of £16,250 with effect from 1st April 2023.

Energy Performance Certificate: 38 (B) Full Details available upon request.

Offers in the region of £205,000 (no VAT)

Viewings available with Motis Estates Chartered Surveyors in Folkestone via[use Contact Agent Button]

IMPORTANT NOTICE FROM MOTIS ESTATES

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.