Cheriton Place, Folkestone
Guide price £1,300,000 (Tenant Fees)

Located in the charming locale of Cheriton Place, Folkestone, this impressive Victorian building, constructed in 1900, presents a remarkable opportunity for those seeking a lucrative investment in the hospitality sector. Spanning an expansive 4,466 square feet across five storeys, this property boasts an abundance of kerb appeal, characterised by its ornate detailing, bay windows, and a striking stone blue façade.

Currently operating as a premium apart-hotel, the establishment features 16 self-contained suites, including eight king/twin rooms, four double rooms, three single rooms, and one suite, all designed with an eco-friendly ethos. Each suite is equipped with modern amenities, including flat-screen televisions, contemporary en-suite shower rooms, and kitchenettes fitted with microwaves, fridges, and utensils crafted from natural materials. Guests can also enjoy access to a delightful courtyard garden, enhancing their stay.

The property has garnered an impressive rating of 8.9 on Booking.com, reflecting its esteemed reputation within the local community. With room rates ranging from £65 to £110 per night, the business has demonstrated a robust financial performance, generating approximately £0.48 profit for every pound earned in the last financial year. Furthermore, the building holds £260,000 in unclaimed capital allowances, which can be transferred to the new owner, adding significant value to this investment.

Business rates will apply to this property.