Commercial Property
£900,000
Park Farm Close,Folkestone,CT19
Description
The premises are situated on the Park Farm Industrial Estate on the outskirts of Folkestone with easy access onto Junction 13 of the M20 motorway and within close proximity to the Channel Tunnel terminal. Folkestone town centre is approximately one mile to the south with Dover and Ashford approx. 8 miles and 13 miles away respectively.
Park Farm is the principal location for retail warehouses such as Sainsburys, Halfords, Wickes and B&M. Folkestone is located on the south east coast of Kent and has a population of around 50,000.
Excellent communications to Europe provided by the Eurotunnel terminal at Cheriton less than three miles away and from the Port of Dover approximately 8 miles away. London can be accessed via the M20 or London St Pancras in under 1 hour via High Speed 1.
The property is a 5143 sq ft warehouse which has been maintained to a good standard with improvements to both the heating and lighting in previous years.
The property has been let on 9 year lease from January 2023 with a rent review in January 2026 and in 2029. The current passing rent is £43,000 excl VAT.
Additional income is from a Deed of Easement for £1,800 per annum and from 96 PV panels on the roof which are registered for FIT Payments until February 2037. The FIT rate increases each year. Annual income is currently £9,000 plus.
Profit is also made on electricity in the last 12 months of £3,842 plus small profits on water and site fees totalling approx £60,000 net income per year.
There is ample parking giving a total of 23 spaces on the site.
EPC: 86 (D) valid until November 2030.
For further information, please contact Motis Estates Chartered Surveyors on 01303 212020.
SUBJECT TO CONTRACT
This firm operates a Complaints Handling Procedure, details of which are available upon request
Motis Estates Incorporating H. Wald & Co
102 Sandgate Road
Folkestone
Kent
CT20 2BW
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