This building was purchased by Darling Properties, who initially leased the entire building to one single tenant. After a number of years, the tenant announced their retirement. Once the initial tenant vacated, the commercial element of the property was re let to a travel agency business. The property was then sold on with the benefit of the commercial lease and vacant possession of the remaining residential parts. A good profit was made via the disposal, which will be redeployed into new investments.
The property consists of a large four storey mid-terraced building and is positioned within a busy retail parade, where Darling Properties owns other buildings. The property has a retail element over the ground and basement and the remainder of the building comprises of a number of residential apartments.
The property is on Grove Road, within the heart of one of the main retailing areas of Eastbourne’s town centre. This area, which is known as Little Chelsea, has over 50 independent retailers and some national chains, selling a wide range of goods and services from contemporary art to cafes and restaurants.
Eastbourne is a large seaside town in the county of East Sussex on the south coast of England. It has a relatively large population of over 100,000 and from its railway station, which lies approximately 350 metres away, there are regular services to London Victoria, which can be reached in 1 hour 15 minutes. The Arndale Shopping Centre can also be found within a few minutes walk.