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For Sale£5,000,000.00

Elm Park Mansions, Cavendish Place, Eastbourne, BN21 3EJ

Residential, Design & Build, Other Property Types & Opportunities , 1695 Sq M
Property type: Residential, Design & Build, Other Property Types & Opportunities
Tenure: Development Opportunity, Investment Opportunity, For Sale Freehold
Size: 1695 Sq M
Price: £5,000,000.00
Location: Elm Park Mansions, Cavendish Place, Eastbourne, BN21 3EJ
Freehold residential led investment comprising 46 residential apartments and one retail unit (A1 Use Class)

A conversion of a former hotel, with part new build

Residential net sales area (NSA) of 1,695 sqm (18,250 sq ft) (Measurements have been provided by the vendor and are not verified by the agents)

Apartments let on assured shorthold tenancies with a rent passing of £300,960 per annum and an estimated market rental value of £316,260 per annum

Retail unit with a passing rent of £12,500 per annum and is subject to a lease expiring in July 2021

A total estimated market rental value of £328,760

100% occupied with minimal void periods since completion

Situated in a prominent corner position on Cavendish Place, approximately 0.5 miles to the south east of Eastbourne railway station and 750 ft to the north of the seafront and Eastbourne Pier

( Agency Pilot Software Ref: 14845 )
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