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EastbourneVIEW ALL OUR TRANSACTIONS
Acquired in conjunction with Gorse Lane Properties, the purchase price reflected a very agreeable rate psf.
Partially leased, BHP undertook a rolling refurbishment of the property to ensure the provision of air conditioned offices which provided full DDA facilities – this ensured that the accommodation had no direct competition within the town and as a result, it was let with ease.
Once fully let, the property was refinanced to benefit from the significant surplus cash-flow.
- Situated within the town centre and approximately 100 m from the railway station
- Provides the only DDA air conditioned accommodation in the town centre
- Very agreeable entry price
- To enhance the ERV through selective refurbishment
- To re-gear the leases with existing tenants
- CAPEX was required
- Any refurbishment needed to be undertaken around the existing tenants
- The potential improvements for the ERV of offices in Eastbourne is always limited
- Out of town air conditioned space was available
- Void risk