“William’s latest project is a strong example of how experienced local investors can play a vital role in regenerating town centres”
– Azfar Rizvi – Aldermore
Aldermore has provided a £4.75m commercial real estate finance facility to Browns Real Estate, enabling the Folkestone-based developer to convert a vacant office building into 32 self-contained apartments in the town centre.
The building on Guildhall Street, situated above a ground-floor retail unit, has been converted across four floors into 15 one-bedroom and 17 two-bedroom apartments.
The first three floors each contain nine units, while the fourth floor comprises five newly built two-bedroom apartments, all with private terraces. Basement parking is also available to tenants.
Apartments are finished to a high specification, with quartz kitchen worktops, integrated appliances, wood-effect flooring in kitchens and bathrooms, and contemporary bathroom fittings. Since launch, 26 tenancies have been agreed across the 32 units, with full occupancy anticipated. The conversion also created work for local contractors and suppliers, channelling investment into Folkestone’s construction and service sectors.
The development sits at the junction of Guildhall Street, Sandgate Road and Rendezvous Street, around 300 metres from the seafront and within walking distance of Folkestone Central station. Bouverie Place Shopping Centre and Park Farm retail park are also nearby.
The building has been renamed Master Williams Place in memory of William Brown’s seven-year-old son, who died in a car accident outside the family home.
“William’s latest project is a strong example of how experienced local investors can play a vital role in regenerating town centres,” said Azfar Rizvi, commercial director, commercial real estate at Aldermore.
“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.”
Browns Real Estate has worked with Aldermore since 2019, with the Folkestone conversion its largest single project to date. Stewart Currie, business development manager, commercial real estate at Aldermore, said the relationship had developed steadily over that period.
“We’ve built a strong relationship with William and the team at Browns Real Estate over a number of years, and it’s been rewarding to support them as their portfolio has grown. At Aldermore, we take the time to understand our customers’ ambitions and work closely with them to provide flexible funding that helps bring their plans to life.”
“Supporting this project is another great example of how we partner with experienced investors to help deliver high-quality homes and long-term value for the communities they serve.”
For William Brown, the project carries significance beyond its commercial value. “Folkestone is where I grew up, and I’ve seen first-hand how much the town has evolved in recent years,” he 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.”
“Renaming the development Master Williams Place in memory of my son was deeply personal. This project represents both a professional milestone and something much more meaningful for my family. I’m proud of the standard we’ve delivered and grateful for the continued support from Aldermore as my portfolio has grown.”
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