Milestone Sales & Lettings Ltd says ..

Property Oracle says ..

This property listing presents a unique opportunity for a large-scale development project in Hampden Park, Eastbourne. The £4,000,000 asking price reflects the significant undertaking of transforming the existing derelict building and surrounding land into 72 residential units. The site’s location offers several advantages; it’s near Hampden Park train station, providing good transport links and it benefits from being close to well-regarded schools. The proximity to local amenities and Eastbourne town center adds further value. However, the current condition of the property is extremely poor, requiring complete refurbishment or demolition. Aerial photographs show significant deterioration and surrounding industrial areas that may affect the desirability and value of the completed development. The lack of detailed planning permission information makes a fully accurate financial assessment difficult. Investors must account for substantial costs associated with demolition, construction, potential planning delays, and the overall risk associated with large-scale projects. The potential profit margin will depend heavily on construction costs, selling prices of the final units, and the overall market conditions during and after the development. While the location holds considerable promise, the significant risks and high development costs mean a thorough due diligence and professional appraisal are crucial before any investment decision is made.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images