Initial price	£1,650,000
10/05/24	£1,400,000
Price Change	-15.15%

The Old Watch Factory is a contemporary two-storey building completed in 2020, comprising nine self-contained flats, six of which are available for purchase. Three flats have been sold on long leases. The remaining flats are fully let on Assured Shorthold Tenancy Agreements, yielding a gross annual income of £81,660. The property benefits from full planning permission for the construction of an additional two-storey, three-bedroom self-contained flat, which will offer an additional 1,094 sq/ft of living space and one off-street parking space. The proposed development, which is currently at the planning stage, will also contribute £18,297 towards the Community Infrastructure Levy. A planning condition is pending approval regarding the integration of renewable energy sources to meet 10% of the development's energy requirements. The Old Watch Factory is well-positioned within walking distance of Ashford town centre and Ashford railway station, offering excellent transport links to London Waterloo and Windsor. The property presents an attractive investment opportunity with potential for development and income growth.