This is a mixed use, part let property, which comprises of a commercial premises, a ground floor office offering potential to convert to a studio flat with private garden subject to necessary planning permissions being obtained, a two bedroom newly converted first floor flat and a two bedroom second floor flat, as well as the freehold of the building.
The ground floor commercial premises is let for a 5 year term, commencing 2nd November 2020 at a rent of £8000 pa. The ground floor room has been previously used as an office space and has its own WC. This room has potential to be converted into a studio flat with a garden (subject to necessary planning permissions being granted) and if this was to be done, we have been advised that the potential rental income for the studio is estimated to be in the region of £495 pcm.
The first floor flat is a vacant and newly converted first floor flat, comprising of an entrance hall, bay fronted lounge, two bedrooms, a newly fitted shower room and a modern fitted kitchen/dining room. We have been advised that the potential rental income for this flat is estimated to be in the region of £750 - £775 pcm.
The second floor flat is a two bedroom second floor flat, comprising of a hallway, lounge, fitted kitchen/breakfast room, a modern fitted shower room and two bedrooms. This flat is currently let on an AST at £605 pcm.
Including the potential rental from the office space as a studio flat, the total potential income for the building, if it was fully let, would be in the region of £29,000 per annum.
The block is situated is situated in an ideal town centre location, within walking distance of Bexhill’s mainline railway station and seafront. Viewing is highly recommended to fully appreciate what this property has to offer.