87-89 Seaside Road, Eastbourne, East Sussex, BN21 3PL
Key Features
- Mixed use investment
- Unbroken freehold comprising a ground-floor retail unit plus two residential flats arranged over the upper floors
- Passing rent of £33,000 pa excluding non-income-producing owner-occupied flat
- Potential total income of approximately £46,800 per annum, equating to a circa 8% return
- Well maintained building with 40% contribution from the shop tenant
- No VAT
Summary
| Property Type | House and Flat, Investment, Retail |
|---|---|
| Sale | For Sale £575,000 Offers in excess of |
Description
A mid-terrace, unbroken freehold investment comprising a ground-floor retail unit with basement, together with two well-maintained residential flats arranged over the upper floors. The commercial element is let to an individual tenant with a third-party guarantor on a 15-year lease from March 2024, producing a passing rent of £16,200 per annum. Flat 1 is a two-bedroom unit, currently owner-occupied and to be sold with vacant possession. The flat has an estimated rental value of £1,150 pcm (£13,800 pa). Flat 2 is a four-bedroom maisonette arranged over the top two floors and is let to three private individuals at £1,400 pcm (£16,800 pa). The property currently generates a total passing income of £33,000 per annum, excluding the non-income-producing owner-occupied flat. When fully let, the property offers a potential total income of approximately £46,800 per annum, equating to a circa 8% return.
VAT
VAT will not be chargeable on the terms quoted.
Legal Costs
Each party is to be responsible for their own legal fees.
Viewing
By appointment with sole agents, SHW.
Contact Us
