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The property comprises a large detached building occupying a large corner site in a popular South Coast town.
Arranged across ground and first floors, the property is arranged as two retail units to the ground floor as well as a rear storage area and garage. The units are currently vacant and were previously used as a cafe and a fireplace sales business. The upper parts comprise two flats of one and two bedrooms respectively.
The flats are currently let on separate assured shorthold tenancy (AST) agreements, producing a total annual rent of £17,100 per annum. The ground floor retail units and rear storage are currently vacant, offering both asset management potential and development potential (subject to obtaining the requisite consents).
Peacehaven is a popular seaside resort town located between Brighton and Eastbourne, the surrounding area is characterised by a mix of local retail and residential use.
Tenure
Freehold
Planning
Whilst there are no extant planning consents, an application has been submitted for the conversion of the ground floor accommodation to residential use, providing five flats:
Flat 1 - One Bedroom - 57.33 sq m
Flat 2 - One Bedroom - 50.37 sq m
Flat 3 - Two Bedrooms - 60.01 sq m
Flat 4 - One Bedroom - 50.58 sq m
Flat 5 - One Bedroom - 52.30 sq m
There is precedent for conversion of ground floor retail space in the area being converted to residential use; the nearby 32 South Coast Road previously received consent for conversion to two flats.
Please consult the local authority planning portal for more information.
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