Unconditional offers in the region of £6,000,000 are invited for the freehold interest. The buyer will benefit from the rent while East Sussex County Council are the tenant, and during this time will be able to work on their designs and plans for potential conversion, extension or redevelopment.
( Agency Pilot Software ref: 12178 )
Location
Eastbourne is a thriving East Sussex coastal town attracting over 4.5 million visitors each year. The lively holiday resort and commercial centre is famous for its award winning beach, Pier and the South Downs National Park covering over 60sq miles is on its doorstep. Eastbourne is located approximately 77 miles south of London, 21 miles east of Brighton an 17 miles west of Hastings. The town benefits from excellent transport links to London via the A22 and Brighton, Hove and Hastings via the a27.
There are regular rail services to London Victoria (1 hour 36 mins), Ashford International (1 hour 9 mins) and Gatwick Airport (55 minutes). Eastbourne has a primary catchment of 325,000 people with the most affluent social groups A, B and C1 well represented in the town.
Accommodation
Existing building of c. 35,239 sq ft GIA w
Terms
TENANCY The property is let to East Sussex County Council at £364,925 pa (quarterly rent £91,231.25). The term expires the end of 13th April 2023. The tenant is likely to remain for one more year before consolidating into other accommodation, providing vacant possession for potential redevelopment.
VAT The property is registered for VAT and it is expected that the sale will be by way of a TOGC.