Broadwater Apartments provides quality high-specification luxury apartments finished to a high standard, with modern bathrooms, bedrooms and living areas, complemented by a bright and spacious open-plan design.
Encircles a landscaped internal courtyard, and provides off-road parking.
Launched May 2020 in the midst of covid-19 lockdown.
Consistently strong interest and demand even in difficult lease up conditions.
All but 2 units agreed at asking price.
Over 90% let to working professionals (single and couples) alongside a handful to students.
100% let since 20th October 2020.
Location
Broadwater apartments are located in the neighbourhood of Broadwater. The seafront is situated approximately 1 mile to the North East of the town centre, whilst Broadwater high street is within walking distance of the apartments. Parks, recreational spaces and a variety of schools are all in close proximity.
Situated less than half a mile from East Worthing railway station, the area of Broadwater is central to everything Worthing has to offer, with an abundance of shops, pubs, restaurants and leisure facilities.
It boasts a wide array of household names including Costa, Starbucks, Co-op and Tesco, alongside award-winning independent retailers, bars and eateries, giving residents access to a variety of conveniences.
There is considerable potential to expand the location’s retail and leisure offering, with particular opportunities for a new cinema, bars and restaurants.
Accommodation
46,545 sqft spread over the ground, first and second floors.
Offering a range of unit types and sizes including 4 x studios apartments 44 x 1 bedroom apartments and 30 x 2 bedroom apartments.
Terms
Tenure
The property is held freehold
Tax
Prospective purchasers’ should satisfy themselves as to their ultimate Stamp Duty Land Tax liability
VAT
Parties should assume the property is elected for VAT purposes
Offers
We are instructed to seek unconditional offers for the freehold interest in the scheme
Specification
- Freehold opportunity
- Unbroken high specification residential scheme
- 78 units comprising of 4 x Studio, 44 x One Bed & 30 x Two Bed
- NLA of 46,545 sqft spread over the ground, first and second floors
- Ample residents parking onsite
- Landscaped internal courtyard
- 100% occupancy: let on resident's Assured Shorthold Tenancies
- Very quick absorption after launching in May 2020, during the peak COVID-19 lockdown period
- Current rent passing is £815,640 per annum
- We are instructed to seek offers in the region of £12.5million