>
Studio flat for sale
8 Cheriton Place, Folkestone, Kent
£1,300,000
8 Cheriton Place, Folkestone, Kent
£1,300,000
Our Summary
- 415sqm/4,466sqft GIA, whilst providing further opportunity to create 2x more self-contained studios, 1x large suite, a restaurant, or staff accommodation to the lower ground floor level, as this part of the building is yet to be redeveloped
- The building also has the opportunity with its current layout to be operated as a professional HMO, student accommodation, or assisted living, all of which would require a successful planning application to allow consent for the change of use, however, the building already benefitting from the layout/design to potentially cater to suit all these options, making this an ideal investment for anyone who is experienced within these sectors, and feels a successful planning application to change the use can be obtained
Description
This substantial 5-storey Victorian building offers a unique opportunity to acquire a premium 16-suite apart hotel with a strong reputation and profitable business. The property boasts a stunning exterior with ornate detailing, bay windows, and a stone blue frontage, and has been expertly designed and constructed to provide a boutique hotel experience. The 16 self-contained studios are themed around eco-friendliness, featuring recycled materials, smart technology, and premium furnishings. The hotel has a high rating on Booking.com and generates a profit of around £0.48p in the £1. The property also offers potential for further redevelopment, with the lower ground floor level yet to be redeveloped, providing an opportunity to create additional studios, a restaurant, or staff accommodation. Additionally, the building has unclaimed capital allowances of £260,000, which can be passed onto the new business owner. The property could also be operated as a professional HMO, student accommodation, or assisted living, subject to a successful planning application.