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Guide price

£2,950,000

Studio for sale Denton Road, Eastbourne, East Sussex BN20

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Property location

Nearby amenities

  • Moira House Girls' School0.2 miles
  • St Andrew's Prep0.4 miles
  • Eastbourne0.9 miles
  • Hampden Park (Sussex)2.6 miles

Features and description

  • Freehold
  • Exciting Investment opportunity in the exclusive Meads area of Eastbourne
  • 9 luxury apartments with communal & private gardens & parking
  • Expected aggregate gross rent £139,320 pa
  • Expected aggregate gross yield 4.7%
  • Freehold
This is an exciting opportunity to acquire an extensively redeveloped grand period building consisting of 9 luxury apartments, parking & freehold in the exclusive Meads Village area.

Description

This opulent traditional period building which has been sympathetically converted into 9 luxury apartments sits on a quiet tree lined street in the highly desirable area of Meads Village, Eastbourne.

The apartments are situated over three floors and have been finished to a high specification. Each apartment offers a unique layout and come with 2-bedrooms and 2-bathrooms, gas central heating and access to the communal gardens. Four of the apartments have the added bonus of their very own private gardens.
There are seven parking spaces in front of the building and the development is covered by an icw warranty. The total overall size of the property is 8,341 sqft.

The apartments each have 125-year leases and are currently offered vacant. The estimated aggregate rental value of the apartments is £139,320 pa (or £1,290 pcm per apartment) based on local comparable properties. This implies a gross rental yield of 4.7% at the asking price of £2,950,000. The total service charge budget is £11,815 pa.

The freehold has been appraised at £50,000 and the seven car parking spaces appraised at a value of £70,000. Both figures are included in the asking price.

The apartments have energy performance certificate ratings of C (73-80).

The development is in the heart of Meads Village, which is one of the finest parts of Eastbourne, to the west of the town centre. Meads high-street is just over a quarter of a mile away and offers tenants everything they need including a selection of privately owned shops, hair salons, coffee & tea rooms as well as a Tesco Express and Co-op. Eastbourne's town centre, with its comprehensive shopping facilities and mainline railway station, is situated just over a mile away (a 26-minute walk or 6 minutes by car). The development is also ideally located for access to Eastbourne's historic seafront as well as the South Downs National Park.

The University of Brighton's Eastbourne campus, its sport centre and Welkin Halls are all based in Meads Village, bringing vibrancy and students to the area. Meads Village is also spoilt for choice when it comes to Schools. Both independent schools such as Bedes and St Andrews as well as Good and Outstanding state schools at primary and secondary school levels are available. For further education you have nearby Eastbourne College as well as Sussex Downs College.
Apt 1 - Ground floor, 884 sqft with parking & private garden
Apt 2 - Ground floor, 919 sqft with private garden
Apt 3 - First floor, 682 sqft with parking & access to the communal garden
Apt 4 - First floor, 1,066 sqft with access to the communal garden
Apt 5 - First floor, 769 sqft with access to the communal garden
Apt 6 - Second floor, 721 sqft with access to the communal garden
Apt 7 - Second floor, 690 sqft with parking & access to the communal garden
Apt 8 - Ground floor maisonette, 758 sqft with parking and private garden
Apt 9 - Ground floor, 701 sqft with parking and private garden

4 floor plans available

View the floor plans to understand the space and layout of this property.

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Savills - Tunbridge Wells RDSView agent properties

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