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Ground Floor One Bedroom Flat, Folkestone
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For Sale
£50,000+
Marketed by:
Auction House London
1a, 5 Hampstead Gate, London NW3 6AL, UK
020 7625 9007
Auction Details :
Auction House London
Auction Date :
02/09/26
Lot Number :
128
Key Features
A Ground Floor One Bedroom Flat Subject to a Periodic Tenancy Producing £8,300 Per Annum
Leasehold. The property is held on a 99 year lease from 9th March 2011 (thus approximately 85 years unexpired). A section 42 notice to exten
Current income approximately £8,300 per annum
EPC rating E
Description
The property comprises a ground floor one bedroom flat situated within a mid terrace building arranged over ground and two upper floors. Accommodation includes Reception Room with Open-Plan Kitchen Bedroom Bathroom. EPC rating E.
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Mermaid Beach are within easy reach. Transport links are provided by Folkstone Central rail station.
Investment Analysis
Investment Snapshot
Guide Price | £50,000+ |
Tenure | Leasehold. The property is held on a 99 year lease from 9th March 2011 (thus approximately 85 years unexpired). A section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer. |
Refurbishment / Upgrade Budget | £5,000–£15,000 |
Purchase + Works | £55,000–£65,000 |
Current Rental Income | £8,300 per annum |
Gross Yield on Guide | 16.6% |
Estimated GDV / Investment Value | Requires verified sold/investment comparables |
Suggested Strategy | Buy-to-Let / Income Investment |
Property & Refurbishment
I would initially allow approximately £5,000–£15,000 for the works indicated by the listing, investor-grade finishing and contingency. This is an HB/AI feasibility allowance rather than a contractor quotation. A full survey and itemised trade pricing are required before fixing the budget.
Rental Analysis
The listing states current rental income of approximately £8,300 per annum, equivalent to a gross yield of about 16.6% on the guide price. This is a listing-derived figure and should be checked against the tenancy/lease, payment history and legal pack. Market rent has not been invented where current comparable lettings were not independently verified.
GDV / Resale Analysis
No sufficiently specific sold comparables were independently verified for this property during this high-volume batch market check. I have therefore not manufactured a GDV figure. Before bidding, establish value from recent like-for-like completed sales or, for commercial/tenanted assets, appropriate investment-yield evidence. Any future HB estimate should be clearly distinguished from a RICS valuation.
Properties Sold Within Approx. 5 Miles
Address | Property Type | Sold Price | Sold Date |
No sufficiently specific sold comparables were independently verified during this market check. This is intentionally left evidence-led rather than populated with fabricated transactions.
Potential BRRR Position
A reliable BRRR refinance calculation cannot be produced until a comparable-supported completed value and, where relevant, achievable rent are established. Any refinance would also depend on lender valuation, LTV, rental stress tests, construction, tenure and borrower criteria.
Flip Analysis
A flip should only be pursued once a conservative resale value has been supported by recent completed-sale evidence. Deduct acquisition tax, the auction administration charge, legal fees, finance, holding costs, refurbishment/development costs, contingency and selling costs; headline guide-to-value uplift is not net profit.
Investor Risks & Due Diligence
Review the complete legal pack, title/lease and all auction disbursements before bidding.
Obtain an appropriate survey/site inspection and contractor or professional costings.
Verify any stated tenancy, lease, rent, possession or planning information independently.
Obtain recent like-for-like sold and rental evidence before fixing GDV or achievable rent.
Recommendation
Preferred strategy: Buy-to-Let / Income Investment. The recommendation is based on the listing facts and current configuration. Because property-specific sold/rental comparables were not verified for every lot in this batch, the final bid ceiling should be set only after local market evidence and legal/condition due diligence are completed.
Strategy Rating
BRRR: ★★★☆☆
Buy-to-Let: ★★★★★
Flip: ★★★☆☆
Development: ★★☆☆☆
Property Location:
:HHN &RPSOHWLRQ $YDLODEOH RU (DUOLHU LI 5HTXLUHG Flat 1, 48 Dover Road, Folkestone, Kent CT20 1LD
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