Mixed use property for sale in Folkestone

This property is marketed by:
Motis Estates

Motis Estates are proud to advertise a prominent restaurant and 3 flats situated in the heart of Folkestone Town Centre in George Lane with fantastic connections to local transport links, and Folkestone Central, taking you to London in less than an hour. The property is in the main through flow to the Folkestone Harbour Arm with more than 100,000 visitors a year.

Situated in a prime trading location within Folkestone town centre, with a variety of retail users in the vicinity including multiples such as beauty salons, barbers, coffee shops and restaurants. Folkestone's famous Old High Street is only 50 yards around the corner.

On street parking is available outside the premises for free after 6pm there are several public car parks including multi storeys within easy walking distance of the premises.

The property consists of a fully fitted restaurant with kitchen and equipment which is now closed but had been trading for a number of years. it is felt the commercial unit could be let at approx £12,000 per annum. There are 2 x 1 bedroom flats and a studio flat above the commercial unit.

The property comprises the following:

Restaurant: 107 sq m

Flat 1: 21 sq m

Flat 2: 32 sq m

Flat 3: 57 sq m

Total: 217 sq m (2356 sq ft)

Current Income:

Restaurant: Vacant

Flat 1: £375 PCM

Flat 2: £550 PCM

Flat 3: £525 PCM

Current Income: £1,450 PCM

Potenital Income: £2,450 PCM

Yield: Approx 8.5%

Use: E Use Class

Energy Performance Certificate:

57 (C) Full EPC available upon request (Restaurant)

73 (C) Full EPC available upon request (Flat 1)

71(C) Full EPC available upon request (Flat 2)

73 (C) Full EPC available upon request (Flat 3)

Services: Water, Gas, Drainage and Electricity

Rateable Value: £4,750 (Folkestone and Hythe District Council (2024/2025). Small Business Rates Relief eligible.