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For SalePOA

Elm Park Mansions

Other, Residential, Mixed Use, Other Property Types & Opportunities
Property type: Other, Residential, Mixed Use, Other Property Types & Opportunities
Tenure: For Sale Freehold
Price: POA
Location: Elm Park Mansions, Cavendish Place, Eastbourne, BN21 3EJ
The investment opportunity comprises a former hotel, now arranged as 46 residential apartments and one retail unit within a terrace of three adjoining properties. The redevelopment occurred over five phases between 2013 and
2016 and comprises part new build.

The building comprises of 25 x studio apartments, 19 x one bedroom apartments and two x two bedroom apartments. The retail unit is situated on the ground floor on the corner between Cavendish Place and Seaside Road. The lower ground floor comprises one apartment and vacant storage space, which used to service the hotel.

The re-development was undertaken by the vendor in five phases, which occurred between 2013 and 2016. The property is currently 100% occupied and there has
been minimal void periods since the start of the initial completions.

The property has a total rent passing of £313,460 per annum, of which £12,500 is from the retail unit. The portfolio has an estimated market rental value of £328,760.
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