Purchase at Auction
Eastbourne: 177-187 Terminus Road, Eastbourne, East Sussex, BN21 3NX
Substantial Freehold Former Department Store with Planning Consent
Estimated Guide Price - £900,000+ Commercial - 9th Dec 2025
Online Only
Key Features
- Comprising a former department store which extends to approx. 6,865 sq m (73,894 sq ft)
- Let to Living Life Eastbourne on a lease expiring in 2027 (1)
- Site area extends to approx 0.45 acres (0.18 hectares)
- Benefits from planning permission to create 65 apartments with ground floor commercial space (Class E)
- Prominent corner town centre position. 240 metres from the beach & 600m from Eastbourne Rail Station
- VAT is applicable
- Six Weeks Completion Available
Acquisition Cost
| Purchase Price | £1,200,000 |
| Stamp Duty | £48,000 |
| Agent's Fee (1.5%+vat ) | £22,800 |
| Legal & Misc | £36,000 |
| Total Acquisition Cost | £1,306,800 |
Cash Investment Required
| Cash Purchase | £1,200,000 |
| Stamp Duty | £48,000 |
| Agent's Fee (1.5%+vat ) | £22,800 |
| Consultant Fee (Approx) | £10,000 |
| Legal & Misc | £36,000 |
| Total | £1,316,800 |
Profit
| Profit (Estimated) | |
| GDV | £16,760,000 |
| Development cost | £10,818,015 |
| Acquisition Cost | £1,306,800 |
| Total Cost | £13,667,460 |
| Gross Profit | £3,092,540 |
Return on Investment
| ROI (Estimated) | |
| Cash Investment | £1,316,800 |
| Profit | £3,092,540 |
| ROI | 236.0% |
| Profit for JV Partner (50% share) | £1,546,270 |
| ROI for JV Partner | 118.0% |
GDV Appraisal
| Units Type (Flats) | Units |
| Ground Floor | 4 |
| First Floor | 15 |
| Second Floor | 15 |
| Third Floor | 14 |
| Fourth Floor | 14 |
| Fifth Floor | 2 |
| Sixth Floor | 2 |
| Total Units | 66 |
GDV Appraisal continued
| Gross Development Value (Estimated) | |||||||
| GIA m2 (Existing) | NSA m2 | ||||||
| Residential | Commercial | Residential | Commercial | COMMON | Residential Value | Commercial Value | |
| Basement | 0 | 0 | 0 | 1,700 | 100 | £0 | £1,700,000 |
| Ground | 580 | 1,220 | 580 | 800 | 420 | £2,320,000 | £1,600,000 |
| 1st | 0 | 1,800 | 863 | 0 | 937 | £3,452,000 | £0 |
| 2nd | 0 | 0 | 0 | 0 | 200 | £0 | £0 |
| 3rd | 0 | 1,800 | 841 | 0 | 959 | £3,364,000 | £0 |
| 4th | 0 | 1,800 | 841 | 0 | 959 | £3,364,000 | £0 |
| 5th | 0 | 125 | 120 | 0 | 30 | £480,000 | £0 |
| 6th | 0 | 120 | 120 | 0 | 30 | £480,000 | £0 |
| Total | 580 | 6,865 | 3,365 | 2,500 | 3,635 | £13,460,000 | £3,300,000 |
| Collective Saleable Area & Value | sqm: | 5,865 | £16,760,000 | ||||
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | £98,888 | |
| Professionals / Architect | 2% of Construction Cost | £197,775 |
| Construction / Refurb | Collective | £9,888,750 |
| Insurances | £98,888 | |
| Section106 / CIL | Provided by developer | £19,500 |
| Contingency | 5% of Construction Cost | £514,215 |
| Total | £10,818,015 |
SURVEYS & REPORTS
LEASE & LEGAL PACK & Agreements
Site plans & elevations
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.