£1,750,000 /Sale price

Motis Estates are proud to advertise a prominent corner location property with three street frontages which is an ideal investment opportunity which consists of six flats, a nightclub, a snooker bar and takeaway at the front which has been offered for the first time in nearly 60 years. The property is of a rare and substantial offering in a prominent harbourside location in the upcoming town of Folkestone. There is development opportunity to extend the property at the rear of the land and to refurbish the current flats - STPPThe property is situated in the Creative Quarter within Tontine Street, 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 on the outskirts of Folkestone town centre, with a variety of retail users in the vicinity including multiples such as beauty salons, barbers, coffee shops, takeaways and restaurants. Nearby is the Quarterhouse which is a successful entertainment venue.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 approximately 0.25 acre site comprises the following individual elements: - Nightclub (which is the only premises in Folkestone which holds a licence until 3am)- Takeaway bar - 6 residential flats - Snooker hall/social club - Land at the rearThere is also the potential to purchase a separate garage/store for £25,000 at the rear of the property. Site breakdownNightclubBasement1,375 sq ft/ 128sqmGround5,415 sq ft/ 503 sqmTakeaway shop250 sq ft/ 23 sqmSnooker hall/social club3,500 sq ft/ 327 sqmGarage & parking spaces740 sq ft/ 70 sqmThe property consists of:Clarendon House: Flat 1: 1x bathroom 2 x bedroom of 74 sq m - AST of £615 PCMFlat 2: 1 x bath and 2 x bed of 74 sq m - AST of £693.33 PCMFlat 3: 1 x bath and 2 x bed of 74 sq m - AST of £650 PCMFlat 4: 1 bath and 1x bed of 28 sq m - Currently Vacant - Potential of £500 PCMFlat 1, 6 Tontine street - 3 Bedroom and 1x bath of 91 sq m - AST of £600 PCMFlat 1, 4 Tontine Street - 2 Bed and 1 x bath with two large loft rooms of 93 sq m - Currently Vacant - Potential of £650 PCMTotal Residential Income (once fully let): £44,499.96 per annumTakeaway Shop: £7,800 per annum (lease terms to be confirmed)Nightclub: £49,400 per annum on a new 5 year lease from October 2024.Snooker Hall: Owner occupied but potential income of £24,000 per annumTotal: Potential Income once fully occupied: £128,700 per annumPlease note that the measurements have been taken from the EPC register or an external source.Land Registry Title: K168693, K213481, K278630 and K912989.Part of the land being sold was acquired by the freeholder from Shepway District Council in 2018. It is referred to under the Land Registry title number K912989 and principally comprises the rear service and parking area, together with part of the shared access road. There is an overage Deed on this part of the land. Further details can be provided.Energy Performance Certificate:Flat 1, 4 Tontine Street, FOLKESTONE, CT20 1JU C 10 March 2029Flat 1, 6 Tontine Street, FOLKESTONE, CT20 1JU E 21 January 2028Flat 1 Clarendon House, Harbour Way, FOLKESTONE, CT20 1AJ D 2 July 2030Flat 2 Clarendon House, Harbour Way, FOLKESTONE, CT20 1AJ D 2 July 2030Flat 3 Clarendon House, Harbour Way, FOLKESTONE, CT20 1AJ D 2 July 2030Flat 4 Clarendon House, Harbour Way, FOLKESTONE, CT20 1AJ D 2 July 2030Party Bar, 2-8 Tontine Street has an Expired EPC - PendingTakeaway - PendingSnooker Hall - Pending Services: Water, Gas, Drainage and ElectricityViewing Strictly by appointment through Motis Estates Chartered Surveyors in Folkestone. or SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).IMPORTANT NOTICE FROM MOTIS ESTATESDescriptions 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.