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Investment

Investment To Let Folkestone

PROPERTY ID: 144149

PROPERTY TYPE

Investment

STATUS

Available

SIZE

14,229 sq.ft

Key Features

Period building with Class F.1 Uses
Arranged over Ground, First and Basement Levels
Grade II Listed with Passenger Lift
In Need of Investment / Modernisation

Property Details

*** ALL ENQUIRIES *** The property is located in the centre of Folkestone in south east Kent approximately 16 miles south east of Ashford, 8 miles south west of Dover and 16 miles south of Canterbury. It is situated on the east side of Grace Hill, in between the roundabout with Shellons Street and the junction with Rendezvous Street. The nearest train station is Folkestone Central approximately 0.6 miles to the north west with journey times to London St Pancras of around 56 minutes.

Location *** All Enquiries *** The Property Is Located In The Centre Of Folkestone In South East Kent Approximately 16 Miles South East Of Ashford, 8 Miles South West Of Dover And 16 Miles South Of Canterbury. It Is Situated On The East Side Of Grace Hill, In Between The Roundabout With Shellons Street And The Junction With Rendezvous Street. The Nearest Train Station Is Folkestone Central Approximately 0.6 Miles To The North West With Journey Times To London St Pancras Of Around 56 Minutes. The Property Comprises A Grade Ii Listed Building Over Ground, First And Basement Floors. It Has Brick Elevations, A Tiled Roof And Single Glazed Timber Sash Windows.. There Is A Passenger Lift At The Rear Of The Building. The Ground And First Floors Are Predominantly Open Plan With Some Office/ancillary Rooms To The Main Space. The Basement Is A Combination Of Staff, Storage And Boiler Room Space. Externally There Is A Small Rear Garden Mainly Laid To Grass. Condition Various Items Of Repair Are Needed And Works Are Ongoing To Make Some Of These Good To Prevent Further Water Ingress To The Building. The Property Ceased To Be Used By The Library Service In December 2022 Due To Water Ingress Making It Unsuitable For Continued Occupation By Staff And Customers. Some Limited Works Have Been Undertaken To The Roof Drainage Network To Improve The Capacity Of The System And Provide Easier Access For Regular Cleaning. However The Building Is Still In Need Of Significant Investment To Address Condition Issues Across The Fabric And M&e Systems. In 2024 It Was Estimated That C£2.9m Worth Of Works Would Be Required To Return The Building To Good Operational Condition. The Level Of Investment Required Into The Property Would Be Dependent On Its Intended Use. Terms Kent County Council, The Current Owner, Has Taken The Decision To Invite Fully Developed Bids For The Future Of The Site On An All Enquiries Basis. This Includes Sale/lease And Leaseback Proposals Which Would Address The Building's Condition Issues And Allow For The Library Service To Reoccupy A Smaller Footprint Within The Site. Details Of Spatial Requirements Are Available From The Agent. Bids Are Also Invited On A Pure Sale / Lease Perspective Which Do Not Involve The Reoccupation By The Library Service. Bids Will Be Assessed Against The County Council's Adopted Disposal Policy, Asset Management Strategy And Statutory Requirements. Any Proposals Involving Reoccupation By The Library Service Will Also Be Considered Against 1) Service Requirements (location, Spatial Provision, And Partnership Potential). 2) The Ongoing Financial Liability To Kcc Including The Risks Associated With Any Assumptions. All Bids Will Be Assessed Against Their Deliverability. We Encourage All Bidders To Clearly Articulate Any Assumptions, Risks, And Mitigations. While Bids Are Being Invited For The Site Kent County Council Reserves The Right To Select The Successful Bidder Based On Assessment Against Relevant Criteria Or To Not Select Any Bidder. Rent/price Price On Application. Please See The Marketing Particulars For Further Information.

About the Agent

Sibley Pares LLP

See Agent's Other Properties

Investment Unit

POA

2 Grace Hill, Folkestone, CT20 1HD
Investment - Available
14,229 sq ft
1,322 sqm
Show phone number

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