This property presents a unique investment opportunity situated in a prime corner location with three street frontages, making it highly visible and accessible. It comprises six residential flats, a nightclub, a snooker hall, and a takeaway shop—an intriguing mix that has not been available on the market for nearly 60 years.
Nestled in the Creative Quarter of Folkestone, this site benefits from its proximity to the vibrant Harbour Arm, which attracts over 100,000 visitors annually. The area is well-connected through local transport links, including Folkestone Central Station, offering direct access to London in under an hour. The surrounding neighborhood features an array of retail establishments such as beauty salons, coffee shops, and restaurants, contributing to its lively atmosphere.
The property occupies approximately 0.25 acres and includes several distinct components: a nightclub licensed until 3 AM—unique in Folkestone—a takeaway shop, six residential flats, and a snooker hall/social club. Notably, there is potential for development at the rear of the site and opportunities to refurbish and enhance the existing flats (subject to planning permission).
On-street parking is available with no charge after 6 PM, supplemented by nearby public multi-storey car parks for additional convenience.
The residential component comprises units that are currently yielding rental income along with some vacancies that present further leasing potential:
- Flat 1: 2 bedrooms (AST at £615 PCM)
- Flat 2: 2 bedrooms (AST at £693.33 PCM)
- Flat 3: 2 bedrooms (AST at £650 PCM)
- Flat 4: 1 bedroom (currently vacant; potential £500 PCM)
- Additional two flats on Tontine Street with varying layouts also offer considerable rental yield prospects.
Once fully occupied, the estimated annual income from residential rentals could reach approximately £44,500. Additionally, the nightclub has an anticipated lease starting in October 2024 worth around £49,400 per year while the snooker hall could provide an extra income stream of about £24,000 annually.
Overall potential revenue from this multifaceted property may total around £128,700 annually when all spaces are fully let.
Moreover, there is an option to acquire an additional garage or storage facility at the rear for £25,000—a practical addition given the diverse needs of possible tenants or business operators.
In summary, this property offers not only current rental income but also significant potential for future development and enhancement in a flourishing area of Folkestone. Its
