Motis Estates are proud to advertise an investment opportunity of 7 flats which have an income of £67,500 per annum which equates to an approx 4.8% yield.
The property is close to Bouverie Village and the Town Centre and has fantastic connections to local transport links, and Folkestone Central, taking you to London in less than an hour within a 5 minute walk.
Folkestone has a number of regeneration projects with the development of Folkestone Seafront with over 700 apartments and the town of Otterpool as a new Garden Town in the next 25 years. www.folkestoneseafront.com and www.otterpoolpark.org. The property is also 50 yards from the former Debenhams site which has been acquired by Folkestone & Hythe District Council for redevelopment.
The property has 7 flats and has the following accommodation:
Property Beds GIA SQM Rent PCM
Each flat has a dedicated parking space.
The property was converted in 2021 to form 7 high quality apartments. Each property was fitted with new kitchen including integrated fridge freezers and oven/hobs as well as new UPVC double glazing and gas central heating systems.
The property has conformed to Building Control and has a certificate dated July 2021.
Photos are for reference of the condition.
Tenure: Freehold Terms:
The property is subject to 7 Assured Shorthold Tenancies with a total income of £67,500 per annum. Full statement of accounts for each flat can be made available.
Energy Performance Certificate: All 7 flats have a rating of C and are valid until 2031.
Services: Water, Drainage, Gas and Electricity Council Tax - The one bedroom flats have a Council Tax rating of A and the two bedroom flats have a Council Tax rating of B.
Viewing Strictly by appointment through Motis Estates Chartered Surveyors in Folkestone. 01303 212020 or [email protected]
SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).
Contact us via [email protected]