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34 bed flat
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Our Summary
- Planning & History The conversion was completed under permitted development rights (Ref: PC/150598) and subsequent planning consents (Ref: PC/151201), which saw the original mansard roof replaced with three new levels of high-quality residential construction
- Investment Yield Currently, one apartment is vacant, and the total monthly passing rent is £224,400 with the potential to be approximately £261,000 when fully let
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Description
The property, Towermead, is a six-storey, freehold residential block located on St Leonard's Road in Eastbourne. It was extensively converted and extended in 2023 and offers 16 self-contained apartments with a mix of two- and three-bedroom units. The building features level access, a passenger lift, and high-specification finishes throughout the communal areas, including carpeted corridors and durable vinyl flooring in stairwells.
Externally, there is brick paved and tarmac surfaced car parking, bin storage, and a secure cycle store. The property has previously been used as an office building, with the original mansard roof being replaced with three new levels of residential construction.