Gorringe Road, Eastbourne
MI

Gorringe Road, Eastbourne

By Milestone Sales & Lettings Ltd

£ 3,400,000

Reviews

3 out of 5 stars

Milestone Sales & Lettings Ltd says ..

This is a rare opportunity to acquire an exceptional income-generating property, delivering a substantial annual return of £263,040 with an impressive net yield of 10.6% after costs. Designed for the discerning investor, this recently converted building combines luxury with functionality, m...

Property Oracle says ..

This property in Eastbourne, located on Gorringe Road in the Upperton area, is described as an exceptional income-generating property, recently converted and designed for the discerning investor. The listing highlights its substantial annual return and impressive net yield. The property comprises 20 bedrooms and 20 bathrooms, suggesting it may be a multi-unit residential building, possibly a converted house or purpose-built HMO (House of Multiple Occupancy). The photos show a recently renovated interior with modern kitchens and bathrooms, indicating a high standard of finish and potentially low maintenance costs. The property also benefits from a garden, adding to its overall appeal. The area is served by Eastbourne railway station within a kilometer and a number of schools nearby. However, a lack of precise plot size data and further details on the rental yields prevents a more detailed market analysis and value assessment. Potential buyers should carry out due diligence and obtain professional valuations and surveys before making any purchase decision. The high number of bedrooms and bathrooms is a key feature that needs thorough inspection; potential buyers should consider the legalities and potential implications of running an HMO or equivalent style of dwelling. A detailed income and expenditure statement is needed for a fully informed investment appraisal. The absence of precise information on the property size and price per square foot of nearby comparable properties also impacts its overall evaluation.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Price
6
Condition
8
Location
7
Land
4
Bedrooms
20
Bathrooms
20
Sqft (est)
2,087.12

The heatmap indicates the level of crime in the area. The color of the heatmap indicates the crime severity and recency.

Metrics Year-on-Year

Average area value
245,817.00 £
Decreased by 32.98 %
from 366,801.00 £
Est sale value
734,666.24 £
Increased by 2.03 %
from 720,056.40 £
Average area rental value
1,151.00 £/mo
Increased by 2.22 %
from 1,126.00 £/mo
Est letting value
2,087.12 £/mo
Unchanged by 0.00 %
from 2,087.12 £/mo
Est rental Yield
5.62 %
Increased by 52.72 %
from 3.68 %
Crime Rate
2.00 %
Unchanged by 0.00 %
from 2.00 %

Agent Activity

  • Milestone Sales & Lettings Ltd created the listing.

Nearby Schools

NameTypeOfstedDistance
St Thomas A Becket Catholic Primary SchoolVoluntary Aided SchoolGood0.45 KM
Stafford Junior SchoolAcademy Sponsor Led0.82 KM
Anderida Learning CentreOther Independent Special SchoolGood0.98 KM
Bourne Primary SchoolCommunity SchoolGood1.12 KM
Roselands Infants' SchoolAcademy Converter1.32 KM

Images

Nearby Streets

NameAverage PriceAverage SqftDistance
Whitley Road £ 270,00000.00 KM
Upper Avenue Roundabout £ 000.00 KM
Abbotts Close £ 250,00000.00 KM
Junction Road £ 000.00 KM
Saint Anne's Road £ 313,83300.00 KM

Nearby Transport

NameNLCTLCDistance
Eastbourne5448EBN0.83 KM
Hampden Park (Sussex)5450HMD2.23 KM
Pevensey And Westham5461PEV6.36 KM
Polegate5455PLG6.48 KM
Pevensey Bay5462PEB8.04 KM

Nearby Listings

AddressPriceTypeScoreDistance
Gorringe Road, Eastbourne £ 3,400,000BUY6 / 100.00 KM
Lewes Road, Eastbourne, East Sussex, BN21 £ 169,950BUY5 / 100.09 KM
Lewes Road, Eastbourne £ 120,000BUY6 / 100.12 KM
Lewes House, Lewes Road, Eastbourne £ 15,000BUYUnknown0.12 KM
Lewes Road, Eastbourne £ 63,000BUY5 / 100.13 KM

Nearby Properties

AddressPriceDistance
15 Gorringe Road £ 575,0000.02 KM
28 Gorringe Road £ 215,0000.02 KM
18 Gorringe Road £ 565,0000.02 KM
25 Gorringe Road £ 230,0000.02 KM
21 Gorringe Road £ 76,9500.02 KM