Lot 106
    Detached
    Bayle Court
    The Parade, Folkestone, Kent, CT20 1SN
    Please refer to auctioneer for more information
     
    Number 1
    A Residential Development Opportunity and Ground Rent Investment. Offered with Planning Permission for the Construction of a Fourth Floor Extension to Create an Additional Two Penthouse Seaview Flats (2 x Two Beds) also Currently Producing a Ground Rent Income of £1,877.75 Per Annum

    Description

    The property comprises a detached block of 15 self-contained flats and garages (all sold off) arranged over ground and three upper floors.

    Tenure

    Freehold

    Location

    The property is located on a residential road close to local shops and amenities. There are numerous green open spaces and Folkestone Harbour are within easy reach. Transport links are provided by Folkestone Central rail station.

    Planning

    Folkestone & Hythe Council granted the following planning permission (ref: 21/1707/FH) on 30/05/2022: 'Alterations to roof of building to accommodate two two-bedroom flats within the roof space'

    Potential to re-apply for planning to provide 4 x one bedroom self-contained flats (Subject to Obtaining all Relevant Consents) Buyers should rely on their own enquiries.

    Proposed Accommodation

    Fourth Floor
    2 x Self-Contained Two Bedroom Flats
    Flat 17 - G.I.A 80 sq m

    Flat 18 - G.I.A 110 sq m

    Note

    We understand the freeholder has the option to insure, maintain and manage the block if desired. Section 5(b) Notices under the Landlord & Tenant Act 1987 have been served and the Leaseholders have not reserved their rights under legislation.
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
    Share this lot

    Additional Fees and Disclaimer

    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

    Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

    Contact Our Property Experts