Browns Real Estate has been provided with a tailored commercial real estate facility by Aldermore to enable the transformation of a vacant office building into 32 self-contained apartments, delivering new housing to Folkestone.
Browns will convert the office building above a ground floor retail unit on Guildhall Street, into 15 one-bedroom and 17 two-bedroom apartments across the first to fourth floors. The first, second and third floors each comprise nine flats (five one-bedroom and four two-bedroom units), while the fourth floor provides five newly built two-bedroom apartments, all having private terraces.
Azfar Rizvi, Commercial Director, Commercial Real Estate at Aldermore, said: “William’s latest project is a strong example of how experienced local investors can play a vital role in regenerating town centres. Transforming a long-vacant office building into high-quality residential accommodation not only helps meet growing rental demand but also brings new life to the heart of the community. It’s also a particularly touching element of the development that the building has been renamed in memory of William’s son, adding a very personal and meaningful legacy to the project. Developments like this are an important part of supporting the continued growth and vibrancy of towns such as Folkestone.”
Located at the junction of Guildhall Street, Sandgate Road and Rendezvous Street, just 300m from the seafront, the development is within walking distance of Folkestone Central station and increases footfall for local shops and helps connect new homes with the town centre.
William Brown, Director at Browns Real Estate, said: “When the opportunity arose to acquire and convert this building, I knew it had the potential to become something that would positively contribute to the town centre. I wanted to deliver high-quality, well-managed homes that help retain people in the town centre and support local shops and services.”
Basement parking is also available to tenants. The conversion work created additional opportunities for local contractors and suppliers, helping to channel investment into Folkestone’s construction and service sectors.
