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Block of Apartments for sale

Cavendish Place, Eastbourne

Guide Price £1,800,000

Property Description

Key features

  • Currently fully let
  • 15 Apartments
  • Tenancy schedule available on request
  • Currently Producing 108,528 pa

Full description

A fully let and income producing residential investment comprised of fifteen flats, currently generating £108,528pa. The buildings form part of a handsome listed terrace. There are three 2 x bedroom flats and 12 x one bedroom flats. Some of the flats and communal areas have been updated.

Eastbourne is situated on the South Coast midway between Brighton and Hastings and about 65 miles due south of London.  It is a fast growing town with a population of about 100,000 and a huge amount of investment is going into the area right now.  Legal & General are expanding the Arndale Centre with 22 stores, a cinema and 7 restaurants.  At Devonshire Park (home of the pre-Wimbledon tennis championships) work is about to start on a new build between the theatres and complete renovation of the facility.  Sovereign Harbour is the largest composite harbour in Europe.

Cavendish Place meets the seafront at Grand Parade and is just in front of the Pier.  The actual town centre commences about 200 yards away. This is a great location for tenants.

Nos 12&14 are a double unit with a single staircase and No16 is a stand alone building.  Accordingly, while our clients would prefer to sell as a single lot they could be purchased individually.

The gross rental income is presently £108,528 pa

A schedule for each tenancy is available upon request to registered parties.

The whole investment is for sale with a guide price of £1.8m
Nos 12&14 are for sale together with a guide price of £1.2m
No 16 is for sale alone with a guide price of £660,000

EPC Rating: Each flat has a separate EPC, though one has been mislabelled and this needs to be investigated.  Ten of the flats are rated C, four are rated D and one needs to be confirmed.

Asbestos register: Available on request

Deposit protection: All tenants deposits are registered with the TDS

Sample AST: Available on request

NOTICE Reid+Dean have provided these particulars just for illustration and prospective buyers or tenants must instruct their own advisors to check all matters relating; physically to the property, its title, any planning consents & building regulations and outgoings. The particulars do not constitute an offer or form part of a contract. No fixtures or fittings are included in the transaction unless agreed in negotiations.  No services or equipment have been tested.  Reid+Dean offer no warranties in relation to the property.

Consumer Protection from Unfair Trading Regulations 2008.
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.

Listing History

Added on Rightmove:
09 June 2016

Map & Street View

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