37 Vernon Terrace
Brighton
Sussex
BN1 3JH
Cornfield Terrace, Eastbourne
£650,000
8 Bedroom House
- Unbroken Residential Freehold Investment
- Arranged as 5 x Self-Contained Flats
- Close to Eastbourne Station
- 2 x 1 bedroom Flat
- 3 x 2 bedroom Flats
- Vacant Ground Floor Flat
Unbroken Freehold Arranged As 5 x Self-Contained Flats
Unbroken Residential Freehold Investment Arranged As 5 x Self-Contained Flats
Description
An opportunity to purchase this inner terraced unbroken freehold investment property. The accommodation is configured over 5 main floors, including lower ground, ground, first, second and third floors, arranged as 5 self-contained flats. The property is currently producing an annual income of approximately £43,500 per annum exclusive, however, the annual income will increase once the ground floor flat is tenanted. The ground floor flat was previously let at £1,100pcm which would bring the total approximate annual income to £56,700 per annum exclusive when fully occupied.
Situation
The property is located in Cornfield Terrace, close to the Memorial Roundabout and within Eastbourne’s immediate town centre. Numerous amenities are close by including The Beacon shopping centre, various cafes and restaurants and the famous Devonshire Park, home to the Lexus Eastbourne Open tennis tournament. The mainline railway station, with direct links to London and Brighton, is within walking distance, as is the seafront.
Accommodation
Lower Ground (Flat 1) - 43.81sq.m. (471.5 sq.ft)
Ground (Flat 2) - 51.89 sq.m. (558.5 sq.ft)
First (Flat 3) - 56.20 sq.m. (604.9 sq.ft)
Second (Flat 4) - 57.04 sq.m. (613.9 sq.ft)
Third (Flat 5) - 37.19 sq.m. (400.3 (sq.ft)
TOTAL - 246.13 sq.m. (2,649.29 (sq.ft)
EPC's
Lower Ground - D
Ground - E
First - E
Second - E
Third - E
Council Tax
Lower Ground - A
Ground - B
First - B
Second - B
Third - A
Tenancies
Lower Ground (Flat 1) £800pcm (9,600pa) - 1 bed - Let on and AST from 24 July 2025 expiring 23 January 2026. The tenant is holding over.
Ground (Flat 2) - Vacant 2 Bed, previously let at £1,100pcm
First (Flat 3) - £1,000pcm - (£12,000pa) –2 Bed - Let on an AST from 25 September 2025 expiring 24 March 2026
Second (Flat 4) - £1,000pcm - (£12,000pa) – 2 Bed - Let on an AST for a term of 12 months from 16 July 2025
Third (Flat 5) - £825pcm - (£9,900pa) – 1 Bed – Let on an AST from 13 October 2025 expiring 12 April 2026
Agent Notes
Annual income to increase once the Ground Floor flat is tenanted.
From 1st May 2026 fixed term Assured Shorthold Tenancies (AST) will automatically convert to rolling Periodic Tenancies.
VAT & Legal Fees
We understand the property is not elected for VAT. Each party is to bear their own legal costs incurred
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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