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Vicarage Lane, Bognor Regis PO22 11 bed detached house for sale
Vicarage Lane, Bognor Regis, West Sussex, PO22
£1,450,000
Vicarage Lane, Bognor Regis, West Sussex, PO22
£1,450,000
Our Summary
- INVESTMENT/DEVELOPMENT OPPORTUNITY Residential investment property currently comprises of 11 flats
- 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 and development opportunity in Bognor Regis, a popular seaside resort on the South Coast of England. The property, sold freehold, currently comprises 11 one-bedroom flats that produce £102,000 per annum. Planning permission has been applied for to add three more units to the property, which sits on a 0.44-acre plot. The property is situated near the town center and has excellent transport links, including a railway station with regular services to London, Brighton, and Chichester. The building is a two-storey period property with a mix of refurbished and unrefurbished flats, offering potential for increased income. Although the building is not listed, it is situated within a local conservation area, and interested parties should make their own enquiries. The property has a total floor area of 555 square meters, excluding common parts.