35 Biggin Street, Dover, Kent

Description

A two storey terrace property located on Biggin Street in the centre of Dover, adjacent to both local and nationwide retailers. The property is arranged as a ground floor commercial unit which is let to a sushi restaurant on a 15-year lease at £15,000 per annum and we understand the upper parts, which have their own separate entrance, are vacant and may offer future potential, subject to all necessary consents being obtainable.

Accommodation

Ground floor: retail area, rear office, store room, staff kitchen and W.C. First floor accessed via front at ground floor level; auctioneers have been unable to internally inspect the upper parts, and details have been provided by the seller. Total floor area 134 sq.m.

Location

Located on Biggin Street in the centre of Dover, adjacent to local and nationwide retailers.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property’s completed sale at £142,800 on 30 May 2025. The auction guide of £140,000–£160,000 broadly brackets that transaction. A base GDV of £142,800 is therefore used, with £140,000 and £160,000 as guide-supported low and high scenarios. The property benefits from a contracted £15,000 per annum ground-floor rent, but the upper parts are vacant and were not internally inspected. No administration fee, VAT position, or other buyer costs are quantified.

Investment Snapshot

Strategy Recommendation

Consider as an income-led commercial hold rather than a flip, subject to verifying the lease, tenant covenant, rent payment history, building condition and the vacant upper parts. Do not attribute value or rent uplift to the upper parts until inspected and consented.

Works Required

No specific refurbishment works are evidenced. Priority actions are to obtain full internal access to the vacant upper parts, verify condition and accommodation, and establish whether any proposed future use requires planning, building regulation or other consents. The existing ground-floor commercial unit is let and no works to it are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £150,000 analysis purchase price and no quantified works allowance, the known project cost is £150,000 before unspecified fees and taxes. A 75% refinance against the £142,800 base GDV equates to £107,100, leaving approximately £42,900 before finance, tax and unquantified acquisition costs. The vacant, uninspected upper parts create substantial uncertainty over value uplift and refinanceability.

Buy-to-Let Analysis

Using the known ground-floor passing rent of £15,000 per annum and the £150,000 midpoint of the guide, the gross yield is approximately 10.0%. This reflects only the let commercial unit; no rent is available for the vacant upper parts, so whole-property rental yield and any residential BTL assessment cannot be established. Operating costs, finance, voids and buyer charges are excluded.

Flip Analysis

A base GDV of £142,800 is supported by the recent same-property completed sale. Against the £150,000 guide-midpoint purchase basis, there is no demonstrated gross surplus before selling costs, finance, tax or unspecified buyer charges. A formal flip surplus cannot be reliably calculated because no selling-cost allowance or confirmed refurbishment scope is supplied.

Investor Risks & Due Diligence

• Upper parts have not been internally inspected and their condition, layout and usable area are unverified.

• The upper parts are vacant and any future use is subject to necessary consents being obtainable.

• The stated £15,000 per annum income relates only to the ground-floor commercial unit; no rent is evidenced for the upper parts.

• The commercial lease has a break clause after seven years, creating future income and reletting risk.

• Tenant covenant, rent payment history and full lease terms are not supplied.

• Administration, other non-optional fees, VAT, Stamp Duty, Land Registry and search costs may be payable but are unquantified.

• The 2025 same-property sale may not be directly comparable without knowing its occupation, lease and condition at the sale date.

Recommendation

Consider as an income-led commercial hold rather than a flip, subject to verifying the lease, tenant covenant, rent payment history, building condition and the vacant upper parts. Do not attribute value or rent uplift to the upper parts until inspected and consented.

Strategy Rating

Analysis Confidence

There is strong direct evidence from a recent completed sale of the same property and a stated contracted ground-floor rent, but the upper parts are uninspected, no rental comparables or refurbishment costs are supplied, and buyer charges are unspecified.