- Investment opportunity +
- Freehold property with 7 flats ( one of which is a detached bungalow ) +
- Building and flats will require updating to maximise rental income +
- We're advised the current annual income £53,580 ( this excludes 2 flats which are currently unlet ) +
- Close proximity to the beach +
- Off road parking for 5/6 cars with space to create an additional space +
- Top floor flat with sea views +
- Communal outside space and storage shed for each flat +
This freehold investment opportunity presents a substantial building comprising seven flats, one of which is a detached bungalow to the side of the building, situated in close proximity to the beach. The property offers significant potential for improvement, as both the building and individual flats would benefit from updating in order to maximise rental income. We are advised that the current annual income is circa £53,580, which does not include two flats that are presently unlet, highlighting further scope for increased returns. The layout includes a top floor flat that boasts attractive sea views, and all residents benefit from communal outside space and a private storage shed. This property is well suited to investors seeking a project with excellent long-term prospects in a sought-after coastal location.
Externally, the property offers a communal garden to the rear, mainly laid to stone, providing a low-maintenance space for residents to enjoy. A circular raised area adds interest to the garden, while a hard-standing and decked area offer further versatility for outdoor activities. Each flat is allocated its own shed for storage space, ideal for bicycles or garden equipment. To the front of the building, there are parking spaces, and a brick-built flower bed could be removed to create a another parking space if desired. The arrangement of the outside space ensures practicality and convenience for residents, while the proximity to the seafront enhances the overall appeal of this investment property.
EPC Rating: D
Flat 1
Studio flat on the ground floor
Open plan living area & bedroom (2.91m x 5.32m)
Living room & bedroom, max measurements, inner hallway to
Bathroom
Bath, wash hand basin & w/c
Flat 2
One bedroom flat on the ground floor
Open plan living room & Kitchen (3.63m x 4.23m)
Bedroom (2.14m x 2.85m)
En-Suite Shower Room
Walk in shower, w/c and wash hand basin
Flat 3
Studio flat in the ground floor
Living room & bedroom (3.7m x 4.84m)
Kitchen space (2.04m x 2.45m)
max measurements
Shower room
Walk in shower, wc and wash hand basin
Flat 4
1st floor 1 bedroom flat
Open plan living room & kitchen (3.72m x 5.17m)
Bedroom (3.74m x 4.13m)
En-Suite bathroom
Bath, wc and wash hand basin
Flat 5
1st floor 1 bedroom flat
Living room (3.74m x 4.42m)
Kitchen (2.53m x 3.08m)
Bedroom (2.9m x 3.02m)
En-suite bathroom
bath, wc and wash hand basin
Flat 6
1st & 2nd floor split level 2 bedroom flat ( incorporates flat 6a on the floor plan or could be split to be 2 separate flats )
Shower room
Walk in shower, wash hand basin & wc
living area (2.84m x 8.11m)
Panoramic sea view
Galley style kitchen (2.06m x 4.2m)
max measurements
Bedroom (2.78m x 3.55m)
measurement excludes the alcove. Sea view
Bathroom
Bath, wc & wash hand basin. Sea view
Flat 7
Detached bungalow to the side of the main building
Open plan living room/kitchen (3.66m x 5.35m)
L-shaped with max measurements
Bedroom (2.72m x 3.66m)
bathroom
Bath, w/c & wash hand basin
Owners residence
The owners residence is a studio style home located within the main building
Open plan living space & kitchen (3.52m x 3.62m)
Bedroom (1.92m x 2.33m)
Shower room
Walk in shower, wc & wash hand basin
Garden
To the rear of the property there is a communal garden space which is mainly laid to stone with a circular raised area. Hard standing, decked area and each flat has their own shed/storage space.
Parking - Off street
Located to the front of the building there are 6 parking spaces along with a brick built flower bed which can be removed to create a 7th parking space.