Mixed use investment property for sale in Eastbourne

This property is marketed by:
Bonsors

Striking corner building set over four floors built in 1899 with brick construction faced elevations with decorative mouldings. Arranged as basement storage, ground floor retail, first floor offices, and two 2 -bedroom flats on the second floor with a total of 7,323 sq ft . The basement, ground, and first floors are all let to Dignity Funerals Ltd. The second floor is divided into two large 2 -bedroom flats, both let on AST’s.

Key Features

• Mixed use freehold investment and residential development opportunity
• Offers in excess of £795,000 (no VAT)
• Rents reserved £71,340 PAX reflecting 8.51% net yield
• Commercial tenant entity has shareholders funds of £192,000,000 and were incorporated in 1894
• Two large 2 bedroom flats recently refurbished
• Busy and sought-after retailing area in the 'Little Chelsea' district
• Striking corner building set over four floors built in 1899 with over 7,323 sq ft of accommodation
• Virtual tours available
• Further information accessible in the Data Room

LOCATION

• Eastbourne is the principal town on the south coast of East Sussex, 25 miles to the east of Brighton and 18 miles to the south west of Hastings. The town lies at the eastern end of the South Downs alongside Beachy Head.
• London is approximately 65 miles to the north with access via the A22 and A27/A23 to the M25. Gatwick airport is approximately 1 hours’ drive to the north west. There is a twice hourly railway service to London Victoria (1hr 30 mins) and Gatwick (45 mins). The port of Newhaven lies approximately 12 miles to the west.
• The subject property is located in a busy and sought-after retailing area just south of Eastbourne Town Centre in the ‘Little Chelsea’ district, approximately half way along South Street, on the corner of the junction of Calverley Walk & South Street.
• The area comprises a retail pitch with a very high occupancy rate of predominantly mixed use including shops, pubs/restaurants, offices, and residential accommodation.
• There is a pedestrian right of way via the yard behind 45 South Street and through the twitten out to the A259 Gildredge Road.