8 Bed HMO, Eastbourne, BN21 4NN, £500,000

Cornfield Terrace, Eastbourne, BN21 4NN - 8 views - 3 months ago

HMO
Planning
ROI: 1%
~248 m²
+5 photos

ValuationFair Value

Sold Prices£200K - £1.3M
Sold Prices/m²£1.7K/m² - £7.5K/m²

 

 

Square Metres

~248 m²
Price/m²£2K/m²

Value Estimate

£500,000

 

 

End Value (After Refurb)

£814,628

Uplift in Value

+63%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£125,000

Stamp Duty & Legal Fees

£28,700

Refurb Costs

£117,422

Bridging Loan Interest

£13,125

Total Cash In

£285,997

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£814,628

Agent Fees (1%)

£8,146

Bridging Loan

£375,000

Bridging Loan Interest

£13,125

Flip Profit

£145,485

Local Sold Prices

50 sold prices from £200K to £1.3M, average is £495K. £1.7K/m² to £7.5K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£870K06/210.16 miBarncote, Blackwater Road, Eastbourne, East Sussex BN21 4JB4
£700K06/210.22 mi1, Hyde Gardens, Eastbourne, East Sussex BN21 4PN4
£1.1M12/220.26 miClovelly Cottage, 22, Blackwater Road, Eastbourne, East Sussex BN21 4HD4
£385K06/210.28 mi3, Camden Road, Eastbourne, East Sussex BN21 4SU4
£232K10/200.35 mi23, Longstone Road, Eastbourne, East Sussex BN21 3SN4
£385K10/220.36 mi45, Langney Road, Eastbourne, East Sussex BN21 3QD4
£332K10/230.4 mi37, Grange Road, Eastbourne, East Sussex BN21 4HG4
£320K11/220.42 mi84, Longstone Road, Eastbourne, East Sussex BN21 3SL4
£320K02/230.42 mi7, Commercial Road, Eastbourne, East Sussex BN21 3XE4
£200K01/210.43 mi93, Ashford Road, Eastbourne, East Sussex BN21 3TP4
£690K05/210.45 mi18, Grassington Road, Eastbourne, East Sussex BN20 7BJ4
£960K05/210.56 mi36a, Saffrons Road, Eastbourne, East Sussex BN21 1DT4
£1.1M01/230.58 mi4, Dittons Road, Eastbourne, East Sussex BN21 1DN4
£745K03/210.58 mi2, Dittons Road, Eastbourne, East Sussex BN21 1DN4
£321.5K03/210.59 mi7, Cavendish Avenue, Eastbourne, East Sussex BN22 8EW4
£765K05/210.59 mi10a, Dittons Road, Eastbourne, East Sussex BN21 1DW4
£490K03/210.59 mi29, St Annes Road, Eastbourne, East Sussex BN21 2DJ4
£600K02/230.59 mi29, St Annes Road, Eastbourne, East Sussex BN21 2DJ4
£340K06/210.6 mi17, Cavendish Avenue, Eastbourne, East Sussex BN22 8EW4
£700K05/210.61 mi1, Saffrons Park, Eastbourne, East Sussex BN20 7UX4
£835K03/230.61 mi16, Saffrons Park, Eastbourne, East Sussex BN20 7UX4
£635K12/200.62 mi7, Carew Road, Eastbourne, East Sussex BN21 2AU4
£645K02/210.62 mi11, Carew Road, Eastbourne, East Sussex BN21 2AU4
£220K04/210.62 mi4, Willowfield Square, Eastbourne, East Sussex BN22 8AN4
£315K01/210.63 mi29, Belmore Road, Eastbourne, East Sussex BN22 8BN4
£480K03/230.64 mi1, Churchfield Square, Eastbourne, East Sussex BN21 2GN4
£585K03/210.65 mi39, Hartfield Road, Eastbourne, East Sussex BN21 2AR4
£375K10/230.65 mi44, Belmore Road, Eastbourne, East Sussex BN22 8BL4
£270K05/230.69 mi44a, St Johns Road, Eastbourne, East Sussex BN20 7NB4
£650K06/210.7 mi15, Upperton Road, Eastbourne, East Sussex BN21 1JR4
£1.3M01/230.76 mi4, Compton Place Road, Eastbourne, East Sussex BN20 8AB4
£455K09/210.77 mi40, Fairfield Road, Eastbourne, East Sussex BN20 7LX4
£275K10/210.79 mi31, Western Road, Eastbourne, East Sussex BN22 8HP4
£575K02/230.81 mi16, Gorringe Road, Eastbourne, East Sussex BN22 8XL4
£466K12/220.82 mi120, Whitley Road, Eastbourne, East Sussex BN22 8LT4
£425K07/220.83 mi20, Beechwood Crescent, Eastbourne, East Sussex BN20 8AE4
£375K03/230.83 mi9, Rylstone Road, Eastbourne, East Sussex BN22 7HN4
£465K06/220.83 mi30, Beechwood Crescent, Eastbourne, East Sussex BN20 8AE4
£375K02/230.85 mi70, Latimer Road, Eastbourne, East Sussex BN22 7DE4
£680K09/230.86 mi3, South Lynn Drive, Eastbourne, East Sussex BN21 2JF4
£980K12/200.89 miEarley Dene, Chesterfield Road, Eastbourne, East Sussex BN20 7NT4
£827K03/210.89 miThe Tiled House, Chesterfield Road, Eastbourne, East Sussex BN20 7NT4
£1.0M08/230.9 mi11, Park Close, Eastbourne, East Sussex BN20 8AG4
£530K03/210.9 mi6b, Denton Road, Eastbourne, East Sussex BN20 7SU4
£500K12/200.91 mi1, New Upperton Road, Eastbourne, East Sussex BN21 1NW4
£335K06/210.92 mi38, Clarence Road, Eastbourne, East Sussex BN22 8HG4
£577K10/230.93 mi79, Vicarage Road, Eastbourne, East Sussex BN20 8AH4
£425K09/210.94 mi2, College Green, Eastbourne, East Sussex BN21 2JT4
£309.9K03/210.94 mi58, Whitley Road, Eastbourne, East Sussex BN22 8NH4
£805K12/220.96 mi14, Le Brun Road, Eastbourne, East Sussex BN21 2HZ4

Local Area Statistics

Population in BN21

24,783

Population in Eastbourne

107,152

Town centre distance

0.75 miles away

Nearest school

0.20 miles away

Nearest train station

0.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+26%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Listed for £500,000

January 24, 2025

Floor Plans

Description

  • Eight Bedrooms +
  • Two Kitchens +
  • Two Shower Rooms +
  • Large Bright Lounge +
  • Investment Property +
  • Rear Courtyard +
  • Potential Development Opportunity +
  • EPC Rating D +

Dating back to 1860, this elegant townhouse offers a unique opportunity in the heart of Eastbourne. Located just steps from the vibrant theatre district and boasting sea views from the upper floors, this Grade II Listed property is the last remaining whole property in the terrace.

Until July 2024, it was used as a student house (HMO), the property features eight double bedrooms, a lounge, two kitchens, a dining/utility room, two shower rooms/WCs and a separate WC.

Gated rear access leads to a courtyard, which can be used as off-street parking. There is potential for conversion back to a family home, continued use as an HMO or conversion to flats (subject to planning permission),

Entrance
Frosted door to entrance vestibule and hallway.

Bedroom 1 - 14'6" (4.42m) x 12'8" (3.86m)
Radiator and window to front aspect.

Bedroom 2 - 9'7" (2.92m) x 8'9" (2.67m)
Radiator and window to rear aspect.

Cupboards
Understairs cupboard and separate large storage cupboard.

Kitchen - 14'3" (4.34m) x 8'10" (2.69m)
Range of units with sink, mixer tap, part-tiled walls, work surfaces, cupboards, and drawers
Space for electric cooker, fridge, freezer, dishwasher.
Range of wall-mounted units, gas boiler, windows to rear and side aspects.

Ground Floor Shower Room - 7'10" (2.39m) x 5'7" (1.7m)
Shower cubicle, WC, pedestal wash hand basin, radiator, part-tiled walls, frosted double-glazed window.

Ground Floor Bedroom 3 - 12'6" (3.81m) x 10'8" (3.25m)
Radiator, fireplace with surround and mantel, double-glazed window to front aspect.

Ground Floor Bedroom 4 - 12'11" (3.94m) x 10'7" (3.23m)
Radiator, fireplace with surround and mantel, pedestal wash hand basin, window to rear aspect.

First Floor Bedroom 5 - 9'8" (2.95m) x 8'6" (2.59m)
Radiator, fireplace with surround and mantel, pedestal wash hand basin, window to rear aspect
.

Separate WC

Second Kitchen / Dining Room - 13'3" (4.04m) x 10'8" (3.25m)
Single drainer sink unit, units under, space for cooker, fridge, freezer, double-glazed window to rear aspect.

Lounge - 15'3" (4.65m) x 12'9" (3.89m)
Large lounge with radiator, double-glazed window to front aspect
.

Second Floor Bedroom 6 - 8'9" (2.67m) x 8'6" (2.59m)
Radiator, window to rear aspect

.

Shower Room - 5'1" (1.55m) x 4'11" (1.5m)
Shower cubicle, pedestal wash hand basin, WC, radiator, frosted window.

Second Floor Bedroom 7 - 13'3" (4.04m) x 9'5" (2.87m)
Radiator, built-in wardrobe, basin, window to rear aspect.

Second Floor Bedroom 8 - 15'6" (4.72m) x 12'9" (3.89m)
Radiator, basin, window to front aspect with sea views

.

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Agent Details

Reid & Dean, Eastbourne

01323 921844

Next Steps?

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