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11 bed detached house
Vicarage Lane, Felpham PO22
£1,450,000
Vicarage Lane, Felpham PO22
£1,450,000
Our Summary
- Investment/development opportunity
- Planning permission has been applied for an additional 3 units in the property
- Some of the flats require refurbishments and others have been already refurbished so there is an element of potential increase on income
- Development Opportunity
- Planning Permission
Description
This is an investment/development opportunity in Bognor Regis, a seaside resort town on the South Coast of England. The property, sold freehold, currently consists of 11 one-bedroom flats and has planning permission for an additional 3 units. It produces £102,000 per annum and sits on a 0.44-acre plot within a local conservation area. The property has a mix of refurbished and unrefurbished flats, offering potential for increased income. Located near the A259 and A27, and with a railway station offering direct services to London and Brighton, the property benefits from excellent transport links. The building's configuration includes a two-storey period building with extensions, and there is an area for parking and landscaping. With potential for further development and refurbishment, this property presents a unique investment opportunity.