Yours for a Million or more – No:2
On Sept 5th 2017 we brought you a post title “Yours for a Million or more“. In brief the blog was about properties, in the Folkestone & Hythe District which cost a million or more. It covered the period April 2002 – May 2017.
The first known million pound property in the district – Lympne Castle – was registered on the Jan 4th 2002, according to Land Registry data; and cost just over the million mark. The latest one was No 19, Castle Hill Avenue which sold for £1.2 million in May 2017 and is owned by Oportunitas Ltd, a company solely owned by Folkestone & Hythe District Council.
Since then a further 24 properties/land have sold for a million or more across the district. The amount spent on these 24 pieces of land and/or property was £53 million.
In Sept 2017, the former Sands Motel in St Mary’s Bay (pictured below) sold for £3 million.”The site in an enviable position, close to a beautiful sandy beach with stunning views out across the English Channel.” It is an 85 unit residential scheme. “The scheme will consist of a range of 3, 4 & 5 bedroom houses and 1 & 2 bedroom apartments (including a number of affordable housing units) and will also include a new landscaped coastal park area, car park and children’s play area“, according to Martello Building Consultancy. Planning permission was granted (Y07/1566/SH) in June 2016.
In the chart three properties built on Fishermans Beach, Hythe sold for £1.3 million each, on the 22 June 2017, 8th Dec 2017 and the 23 Jan 2018 respectively. So what might the price be for a property with seafront views at the Sands site possibly be, less than Fishermans Beach, the same, more?
Flat 8 (a leasehold) at 148 – 140 Westbourne Mansions Sandgate Rd Folkestone sold for just over £1,3 million, according to the Land Registry. However according to the title deed the £1.3 million also purchased a leasehold for a flat at Clifton Crescent, another leasehold at Waterfront House Harry Zeital Way London and parking space, not far from the Olympic Park and the freehold of a house in Leytonstone Road London, not far from Stratford HS1 and the Olympic Park.
The most second most expensive property bought was 133 Hythe Road, Dymchurch, for £13,600,000 (exclusive of VAT), the address is more commonly known as New Beach Holiday Camp to us locals. The freehold is now owned by Standard Life Assurance Ltd of Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH
New Beach Holiday Camp was previously owned by a company called Eurydome S.A.R.L (see page 6) registered in the Grand Duchy of Luxembourg according to their equivalent of Companies House. Luxembourg for the uninitiated is deemed to be an offshore tax haven. So New Beach Holiday Company has come back onshore.
Standard Life Assurance Ltd have leased the site back to the former owners until 2117, according to the land registry. The price paid is unavailable.
Finally the land formerly known as Somerfield Court Sellindge, sold for £4 million to Taylor Wimpey, on the 20th Dec 2017. The site – The Lees – phase 1 is now being developed by Taylor Wimpey and the site will be launched on August 25th and a 3 bed starts from £269,995.
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