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AGENT'S DETAILS


High Quality Mixed Use Property in Eastbourne

For sale: £550,000.00|Retail, Mixed use, Flat, House, Other Property Types & Opportunities, Residential

PROPERTY DETAILS

FOR SALE£550,000.00
ADDRESS44 Seaside, Eastbourne, East Sussex, BN22 7QJ
TYPERetail, Mixed use, Flat, House, Other Property Types & Opportunities, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON17th June 2020

DESCRIPTION

44, Seaside, Eastbourne, East Sussex, BN22 7QJ

A stunning mixed-use building on the South Coast which has been fully renovated (and featured in Esquire Magazine and YPN) and generates an income of £43,550 PA.

The property has been styled and designed by a renowned local developer and 44 Seaside set the trend of 'industrial boutique HMOs', with many developers copying the style since across the country.

With three income streams, this property would make an ideal investment from a 'hands-off' investor looking for a quality asset with a high yield and capital appreciation.

There is a 5-bed HMO which generates £31,800 PA, a 1-bed garden flat tenanted at £7,800 Pa and a small retail unit currently tenanted on a 3 year license at £3,600 PA.

The property is managed by SH Property a local letting agent. The management has been renegotiated to 8% of monthly rent, with £10 admin charge per room and £75 new tenant find fee.

The property also benefits from an unclaimed capital allowance of £15,000.

Income
5-bed, 5 en-suite HMO generating £31,800 PA

Expenditure

Insurance £50 - Gas/Elec/Internet - £237

Council Tax - £132 - Water - £61.75 - TV Licence - £13.20

1-bed Flat generates £7,800 PA

Retail Unit £3,600 PA (There is also an insurance contribution of £350 PA)

Management @ 8% of gross income

LOCATION

Location: 44 Seaside, Eastbourne, East Sussex, BN22 7QJ

Eastbourne (0.6 miles)

Hampden Park (1.9 miles)

Pevensey & Westham (3.4 miles)

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