61 Sandgate Road Folkestone Kent CT20 1RY

61 Sandgate Road
Folkestone
Kent
CT20 1RY

Freehold Retail, Office and Residential Investment

  • Retail let to The Works Stores Limited until 2019 (no breaks)
  • 2 x two bedroom flats on second and third floors
  • Important and established English Channel Port
  • Prominent town centre location
  • Residential redevelopment potential of first floor (subject to consents)
  • Nearby occupiers include Debenhams, Superdrug, WH Smith, NatWest and Barclays Banks
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    11
  • Auction
    26th March 2015
  • Rent
    £56,030 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail, Office and Residential Investment

  • Retail let to The Works Stores Limited until 2019 (no breaks)
  • 2 x two bedroom flats on second and third floors
  • Important and established English Channel Port
  • Prominent town centre location
  • Residential redevelopment potential of first floor (subject to consents)
  • Nearby occupiers include Debenhams, Superdrug, WH Smith, NatWest and Barclays Banks
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 11
  • Auction 26th March 2015
  • Rent
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
7 miles south-west of Dover, 15 miles south-east of Ashford
Roads
M20 (Junction 13), A259, A20
Rail
Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air
London Gatwick Airport
Situation

Folkestone is an established English Channel port located on the Kent coast. The town benefits from a high speed rail service from London St Pancras and the terminus of the Eurotunnel is located two miles north-west of the town centre. The property is prominently situated on the east side of pedestrianised Sandgate Road close to its junction with Bouverie Place and West Terrace. The property is directly opposite Debenhams with other nearby occupiers including Superdrug, WH Smith, NatWest and Barclays Banks. The property further benefits from being close to the Bouverie Place Shopping Centre with retailers including Primark, TK Maxx, The Body Shop and Next.

Tenure

Freehold.

Location
Miles
7 miles south-west of Dover, 15 miles south-east of Ashford
Roads
M20 (Junction 13), A259, A20
Rail
Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air
London Gatwick Airport
Situation

Folkestone is an established English Channel port located on the Kent coast. The town benefits from a high speed rail service from London St Pancras and the terminus of the Eurotunnel is located two miles north-west of the town centre. The property is prominently situated on the east side of pedestrianised Sandgate Road close to its junction with Bouverie Place and West Terrace. The property is directly opposite Debenhams with other nearby occupiers including Superdrug, WH Smith, NatWest and Barclays Banks. The property further benefits from being close to the Bouverie Place Shopping Centre with retailers including Primark, TK Maxx, The Body Shop and Next.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation in the basement, self-contained office accommodation on the first floor and two self-contained two bedroom flats on the second and third floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor retail unit with ancillary accommodation in the basement, self-contained office accommodation on the first floor and two self-contained two bedroom flats on the second and third floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversions
Basement
Ground
Ancillary
Retail
79.00 sq m
189.59 sq m
(850 sq ft)
(2,041 sq ft)
THE WORKS STORES LIMITED (1) 10 years from 19/10/2009 (2) £39,500 18/10/2019
First Office
69.24 sq m
(745 sq ft)
J&J RECRUITMENT SOLUTIONS LIMITED (3) 5 years from 21/07/2010 £5,250 (4) 20/07/2015
Second Residential
Two Bedroom Flat
INDIVIDUAL Let on an Assured Shorthold Tenancy until 30/04/2016 £5,640  
Third Residential
Two Bedroom Flat
INDIVIDUAL Let on an Assured Shorthold Tenancy until 08/11/2015 £5,640  
Total Commercial
337.83 sq m
(3,636 sq ft)
    £56,030  

(1) For the year ending 27/04/2014, The Works Stores Limited reported a turnover of £127,960,000, pre-tax profits of £5,838,000 and a total net worth of £10,022,000. (Source: www.riskdisk.com 26/02/2015)
(2) The lease is subject to a schedule of condition.
(3) J&J Recruitment Solutions Limited are considered to be one of Kent’s leading recruitment consultancies. Founded in 2006, J&J Recruitment now have two offices located in Herne Bay and Folkestone. (Source: www.jandjrecruitment.com 26/02/2015).
(4) The current rent under the terms of the lease is £5,000 p.a.x. The tenant pays an additional signage licence fee of £250 p.a.x.

Property Documents

  • Site Plan
    Updated Date
    03.03.15
    File Size
    99 KB
    View PDF
  • Catalogue Page
    Updated Date
    03.03.15
    File Size
    638 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Eversheds LLP 115 Colmore Row
Birmingham
B3 3AL
Charlotte Bloomfield 0845 497 9797charlottebloomfield@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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