204-261 Terminus Road, Eastbourne
Rare opportunity to purchase a significant, unbroken portion of a main retailing and residential parade in Eastbourne
On behalf of a local authority, Bruce Gillingham Pollard completed the acquisition of a significant unbroken retail and residential parade located in a long term strategic positon within Eastbourne.
Bruce Gillingham Pollard advised the client on their property acquisition and investment strategy which is designed to contribute to the overall economic growth of Eastbourne. An important element of this plan is to invest in local income-producing property, which increases their overall revenue income, which in turn helps fund their vital services.
We were able to identify and advise on a strategically located investment providing a secure income and good growth prospects. The property was acquired for a price of £5,200,000.
The property comprises a substantial and attractive parade which includes 22 retail units on the ground floor (17 A1 retail and 5 A3 restaurant use), 20 flats (13 ASTs, 2 regulated tenancies and 5 vacant flats) and a further 16 flats sold off on long leases providing ground rent income. The parade is situated on the south of the road, and includes the whole of one side of the street between Seaside road and Grand Parade. The building dates from the Victorian period.
Please contact Jack Barratt.