Eastbourne, BN21 3ZE | Investment Property for Sale | VES-BN21-002

Opportunity to purchase an apartment in Eastbourne generating £7,800 rent pa & gross yield of 5.6%

£140,000

Apartment

VES-BN21-002

INITIAL INVESTMENT

£41,700

Based on

deposit: £35,000

stamp duty: £4,200

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£7,800

GROSS YIELD

5.6%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£350

SERVICE CHARGE

£1,321

2 bedrooms

1 bathroom

1 reception room

441

Unfurnished

Leasehold information

  • Length of lease: 150 years
  • Year lease started: 2015

Property information

  • Located on the ground floor
  • Open plan kitchen/living room
  • Off-street parking available on a first-come-first-serve basis
  • EPC rating C
  • Property is managed by a third party
  • Monthly rental income £650

Location information

  • The property is approximately a 12-minute walk from the town centre
  • Eastbourne railway station is 0.6 miles from the property
  • Eastbourne pier and the beach can be reached in less than 20-minute walk

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Tenancy

RENT

£7,800 p.a. / £650 pcm

TENANCY DEPOSIT

£750

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

26 months ago

TENANCY AGREEMENT ENDS

Periodic

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Eastbourne, East Sussex

Eastbourne is a town, seaside resort in East Sussex on the south coast of England, 19 miles (31 km) east of Brighton. Eastbourne is immediately to the east of Beachy Head, the highest chalk sea cliff in Great Britain and part of the larger Eastbourne Downland Estate.

It is a popular area for people looking to escape city life and in 2013 was voted the fourth best place to live by the sea in the UK.

As a seaside resort Eastbourne has a large and increasing income from tourism, with revenue from tourism increased by conferences, public events and cultural sightseeing. Eastbourne has a broad economic base and is home to companies in a wide range of industries in trade and retail, healthcare, education, construction, manufacturing, professional scientific and the technical sector.

Eastbourne has regeneration underway with an £85million investment to improve the town centre, develop the shopping and recreational facilities at the Arndale Centre and build the Devonshire Park sport and cultural complex. Combine this with Eastbourne’s direct trains to London Victoria, it will only attract more people to this fantastic location and property prices are likely to continue to rise.

Eastbourne is the amongst the fastest growing seaside towns in the UK. It is predicted by Savills that in the next 4 years the South East will see around a further 20-25% rise in property prices.

Upper Avenue,

Eastbourne,

East Sussex,

England,

BN21 3ZE

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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