Burnap and Abel Estate Agent in CT20 2BZ

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07912 886736

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10 bed property

Available

For Sale

Listed Jun 21, 2024

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£1,500,000

Available

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07912 886736

By Burnap and Abel

Description

FOR SALE WITH BURNAP + ABEL... Welcome to The Bayle, Folkestone - where prime location meets incredible investment opportunity. This block of 6 new build apartments offers a total of 57 square metres of commercial premises, creating the perfect blend of residential and business potential. Currently generating an impressive rental income of circa £85,000 per annum, this property is truly a must-have for savvy investors looking to increase their portfolio. Don‘t miss out on this rare chance to own a piece of luxury in one of Folkestone‘s most sought-after areas. Sensible offers welcomed by the current vendors.

Main Information
Investment Consideration:
Gross Initial Yield: 5.67%
Rental Income: £85,000 p.a.
VAT is NOT applicable to this property
SPV can be purchased to minimise stamp duty
Apartments can be used for holiday lets
Comprises block of 6 apartments (2 x 1-Bed & 4 x 2-Bed) and 1 commercial unit
2 apartments benefit from private balcony, while ground floor apartment benefits from private patio
Total residential area 287 sq m (3,089 sq ft)
Total commercial area 57 sq m (614 sq ft)
Development completed in December 2023
10 year new-build warranty guarantee