Project Description

Location
The property is located in Folkestone, a town 74 miles South East of London situated just off Shorncliffe Road, in a small cul-de-sac of apartment blocks.

Within close proximity to the subject property, at either end of Shorncliffe Road there are an array of local shops, restaurants and bars. Folkestone central train station is only 0.5 mile east taking approximately 3 minutes by car or 11 minutes on foot.

The city of London is easily within commuting distance, accessible by rail and can be reached in approximately 55 minutes from Folkestone central.

Description
The flat is situated on the first floor and the accommodation on offer comprises of lounge, kitchen, bathroom, double  bedroom and a further single bedroom.

Externally there are well-maintained garden grounds. The property also benefits from having a single garage ideal for parking or for additional storage.

The fitted kitchen has base and eye level units with sink and drainer, cooker, fridge, freezer, washing machine and dryer. Bathroom comprising of 3 piece suite in white with low flush WC, wash hand basin and bath with shower over.

Accommodation
Property not measured

Services
We understand the property has mains electricity, water and drainage.

Tenure
Long leasehold – remaining number of years left on the lease to be confirmed.

Investment Analysis
The previous rent on this property was £634.81 per calender month, reflecting a yield of 6.6%.

There is scope to add value to the property by undertaking a basic course of refurbishment. The property could then be sold for a profit.

Council Tax
The property is rated in Council Tax Band B.

Property Charges
Ground rent – £100 per annum (Please see legal pack)
Maintenance charges – (2015/2016) – two 6 monthly instalments of £445.50

VAT
No VAT will be payable on the purchase price of the property.

*Guide Price
£115,000

Please note an inspection of the property has not been undertaken.

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

11 Cliffestone Court
Shorncliffe Road
Folkestone
CT20 2ND

Features

✓ Investment Opportunity
✓ First floor flat
✓ Two Bedrooms
✓ Potential yield of 6.6%
✓ Previous rent of £634.81pcm (£7,617.72pa)
✓ Garage
✓ Good transport links with Folkestone Central within 0.5m
✓ In need of modernisation
✓ Opportunity to increase capital value

Contact

Hayley Riley
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR101

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