Smith Woolley
Tel: 01303 226622
43 Castle Hill Avenue
Folkestone
Kent
CT20 2RB
High Street, Hythe
Guide Price £665,000
4 Bedroom Apartment - Above Shop
- *MIXED USE INVESTMENT OPPORTUNITY*
- 2 commercial units and 2 residential maisonettes
- Town centre location
- Prominent corner position
- Character features
*MIXED USE INVESTMENT OPPORTUNITY* - 3-storey character building in a prominent corner position in Hythe, offering two commercial units and two residential maisonettes.
Full Description
*MIXED USE INVESTMENT OPPORTUNITY*
The property is about 300 years old and has many character features. The building is 3-storey of brick construction with a tiled roof with dormer windows. The property comprises 4 main elements:- A convenience store, a dog grooming business and two maisonettes. The entire freehold property represents a unique opportunity to acquire three let investment properties and vacant possession of a maisonette for owner occupation or for letting. Alternatively, a purchaser can purchase the freehold with 3 leases and grant a 999 year lease at a peppercorn rent of the vacant maisonette to the seller.
The property is located in a prominent corner position at the junction of the High Street and Chapel Street, benefitting from a return frontage. The town has an array of boutique shops, restaurants and building societies, along with larger retailers including Costa, Boots, WH Smith and Iceland. Hythe is located on the south coast of Kent, 4 miles west of Folkestone and 10 miles southeast of Ashford.
The freehold with 3 leases and vacant possession of the maisonette is available at £665,000 (no VAT).
The freehold with 3 leases and grant of a 999 year lease at a peppercorn rent on the maisonette is available at £465,000 (no VAT).
*Note that the Council tax band and EPC rating shown on the advert are representative of one maisonette. Full details provided below:
Flat A: EPC Rating F, and council tax band C.
Flat B: EPC Rating D, and council tax band A.
Convenience Store
Shop unit fronting the High Street currently fitted as a convenience store with rear storage. Access to shared WC facilities. Let at a rent of £15,000 per annum from November 2019 for a term of 15 years (full details available on request).
Dog Groomers
Small commercial unit fitted for use as a dog groomers. Access to shared WC facilities. Let at a rent of £6,000 per annum from March 2022 for a term of 5 years. (Full details available on request).
Maisonette A
A first and second floor maisonette providing two-bedroom accommodation, together with kitchen, sitting room, dining room, shower room/WC and small attic room/study. Tenancy agreement - let at a rent of £1,090 per month.
Maisonette B
A first and second floor maisonette providing two-bedroom accommodation both with en-suite bathrooms/WCs. A lovely open plan sitting room/dining room, galley kitchen, part UPVC double glazed, gas central heating. A lovely sheltered tiled courtyard area shared with Flat A. Vacant.
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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