Block of flats for sale in High Street, Dover CT16

Adjoining mixed use freehold premises for sale in Dover High Street. The ground floor comprises of commercial retail shops with the upper floors being residential. The premises is currently 50% occupied with four separate titles.

About Dover: Dover is a main ferry port in Kent and known as the gateway to the continent controlling the English Channel. Dover council will be constructing a redevelopment plan known as The Beacon Project which would see a redevelopment of an area of Bench Street and will be funded with a £21 million investment from the Government. The project will deliver £90 million of economic benefit which include a education campus, a business centre, a creative centre, a riverside park let and an expansion of the Dover bike hire scheme. The Garden Village in Aylsham Village will produce 1,292 new homes and has been in operation since 2014. The final stage is set to begin 2024. A £34 million Dover fast track will see the launch of a zero-emission bus route which will connect buses from Whitfield to Dover

Internal Commercial Floor Space: 2,100 sq/ft

Shop 1:
Shop floor 14.4 x 2.8 meters
Toilet - 1.6 x 0.8 meters
Storage room 1.4 x 1.0 meters
Storage room 2 5 x 1.11 meters

Flat 1:
Living room/kitchen - 4.4 x 2.6 meters
Bedroom - 3.17 x 1.7 Meters
En-suite - 3.11 x 1.3 meters
Bedroom - 3.9 x 3.5 meters

Shop 2:
Shop floor 9.00 x 3.4 meters
Storage room 2.7 x 2.5 meters
Toilet 2.5 x 0.99 meters

Flat 2:

Living room 7.5 x 2.3 meters
Kitchen 3.5 x 1.2 meters
Bathroom 2.2 x 2.4 meters
Bedroom 3.9 x 3.6 Meters
Storage room 2.0 x 0.9 Meters

EPC Rating: C

Business Rates: Nil

Ground Floor:

Two mid parade premises with double framed front and fitted with electric security shutters.

Shop One (Dover food & wine) - Currently let on a 21-year full repairing and insuring lease from March 2021 producing £11,000 per annum. The rent review is every 3 years with the next one being August 2024.
Shop Two: Currently empty, was let to a bed shop at annual rent of £7,200. The market rent is £9,000 per annum. The business closed and moved to a bigger premises, before the tenant was a European Grocer.

First Floor:

Two-bedroom flat - Currently let out on an assured tenancy producing a rent £10,200 per annum.
One bedroom flat - Recently empty, the last tenancy was producing a rent £9,000 per annum.

Entrance:

Communal entrance to the flats with stairs to the first-floor landing providing access to the one and two bedroom flats.

Potential Rental Yield:

With all four units fully occupied, the site can produce £39,000 - £40,000 annually in rent, producing a gross rental yield of 8.9%. The property next door to the site was previously a fish and chip shop but recently the ground floor has been converted to a self-contained 1 bedroom flat.

Price: £440,000 Freehold

Please contact us to arrange a viewing.