Offers in region of
£750,000
Property for saleGildredge Road, Eastbourne BN21
Freehold
About this property
Prominent main road location
Total (projected) rental income £45,900 per annum
Close to Eastbourne Rail Station
Two flats let on AST’s plus cafe
Location
Eastbourne is located 22 miles (35 km) east of Brighton, 33 miles south-east of Gatwick Airport & Crawley, 12 miles ( km) west of Hastings and 24 miles (km) south of Tunbridge Wells. Eastbourne has a resident population of 103,745.
5 Gildredge Road is situated on the western side of Church Road within the main professional area of the town. Nearby occupiers include So Legal, Lawson Lewis, Motion Picture Licensing Company and Advanta.
Gildredge Road is one-way and there is limited on street parking (permit or up to two hours) with additional public parking in Hyde Gardens.
Eastbourne rail station is a few minutes walk (0.2 miles). London Victoria is an average journey time of 1 hour 36 mins.
A location plan and street view can be viewed online through Google Maps by typing in the following postcode:BN21 4RB
description
The property comprises a prominent period building arranged over ground, first and second floors.
The ground floor retail unit is occupied by a cafe.
The first and second floors comprise four flats, a studio and one bed flat (both on the first floor) and a one bed flat (second floor) let on AST's, and the other flat is sold off long leasehold.
Terms & price
Terms and price on application.
Tenancies
5 Gildredge Road: Lease dated 1st March 2024 for a term of 5 years expiring 28th February 2029. Passing rent £17,000 per annum exclusive.
Flat 1 is being offered to rent on an AST tenancy at a rent of £800 per calendar month.
Flat 2 is let on an AST tenancy for a term of months at a rent of £850 per calendar month.
Flat 3 is let on an AST tenancy for a term of months at a rent of £700 per calendar month.
There is a long lease dated 16th May 2014 for a term of 124 years expiring 22nd June 2138.
Current ground rent £100 per annum.
Flat 4 was sold on long lease and is not included in any sale.
VAT
We are advised that the property is not elected for VAT.
Business rates
5 Gildredge Road Rateable Value £16,000 ubr 49.9 p (Apr 2024/25).
Council tax
Band A
energy performance certificate
EPC’s for the property can be supplied on request.
Legal costs
Each side will be responsible for their own legal costs.
Money laundering regulations
Under the Money Laundering Regulations 2017 (as amended) we are legally required to obtain proof of funds and identity.
Ground Floor
Sq Ft: 786
Sq M: 73
Flat 1
Sq Ft: 334
Sq M: 32
Flat 2
Sq Ft: 334
Sq M: 32
Eastbourne is located 22 miles (35 km) east of Brighton, 33 miles south-east of Gatwick Airport & Crawley, 12 miles ( km) west of Hastings and 24 miles (km) south of Tunbridge Wells. Eastbourne has a resident population of 103,745.
5 Gildredge Road is situated on the western side of Church Road within the main professional area of the town. Nearby occupiers include So Legal, Lawson Lewis, Motion Picture Licensing Company and Advanta.
Gildredge Road is one-way and there is limited on street parking (permit or up to two hours) with additional public parking in Hyde Gardens.
Eastbourne rail station is a few minutes walk (0.2 miles). London Victoria is an average journey time of 1 hour 36 mins.
A location plan and street view can be viewed online through Google Maps by typing in the following postcode:BN21 4RB
description
The property comprises a prominent period building arranged over ground, first and second floors.
The ground floor retail unit is occupied by a cafe.
The first and second floors comprise four flats, a studio and one bed flat (both on the first floor) and a one bed flat (second floor) let on AST's, and the other flat is sold off long leasehold.
Terms & price
Terms and price on application.
Tenancies
5 Gildredge Road: Lease dated 1st March 2024 for a term of 5 years expiring 28th February 2029. Passing rent £17,000 per annum exclusive.
Flat 1 is being offered to rent on an AST tenancy at a rent of £800 per calendar month.
Flat 2 is let on an AST tenancy for a term of months at a rent of £850 per calendar month.
Flat 3 is let on an AST tenancy for a term of months at a rent of £700 per calendar month.
There is a long lease dated 16th May 2014 for a term of 124 years expiring 22nd June 2138.
Current ground rent £100 per annum.
Flat 4 was sold on long lease and is not included in any sale.
VAT
We are advised that the property is not elected for VAT.
Business rates
5 Gildredge Road Rateable Value £16,000 ubr 49.9 p (Apr 2024/25).
Council tax
Band A
energy performance certificate
EPC’s for the property can be supplied on request.
Legal costs
Each side will be responsible for their own legal costs.
Money laundering regulations
Under the Money Laundering Regulations 2017 (as amended) we are legally required to obtain proof of funds and identity.
Ground Floor
Sq Ft: 786
Sq M: 73
Flat 1
Sq Ft: 334
Sq M: 32
Flat 2
Sq Ft: 334
Sq M: 32
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Monthly repayment
£3,751 per month
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