Summary - Gloucester Road, Bognor Regis, West Sussex PO21 1NU
6 bed 4 bath Semi-Detached
Four-apartment freehold near Bognor seafront — immediate income with refurbishment upside..
- Four self-contained apartments: one 1-bed, three 2-bed units
- Established long-term hospital tenancy in place (transferable)
- 50m to Bognor seafront; short walk to train station and shops
- Upgraded electrics and gas; ready to re-let quickly
- First-floor 1-bed currently under renovation — income to follow
- Property needs further renovation; value-add potential
- Very high local crime and area deprivation — higher management costs
- Potential to extend and buy adjoining property (separate purchase)
A central Bognor Regis freehold arranged as four self-contained apartments — one 1-bed and three 2-bed units — offers an immediate income stream and strong rental appeal thanks to an established long-term hospital tenancy. The property sits about 50 metres from the seafront and is a short walk to the train station and local amenities, giving good lettability for staff, short-stay workers and seaside renters.
Major services have been upgraded (electrics and gas) so units can be let quickly; one first-floor apartment is currently being finished which will increase income once complete. There is scope to increase overall value — potential to extend and the option to purchase an adjacent property (sold separately) provide upside for consolidation or larger redevelopment.
Be clear on the challenges: the building needs further renovation work and the first-floor flat requires completion. The area is classified as deprived with very high crime levels and a local cosmopolitan student/neighbourhood mix, which may affect management costs, insurance and tenant mix. Council tax liability is not specified and prospective buyers should factor in any compliance or licensing requirements for multi-let properties.
This is best-suited to investors or developers seeking a medium-term value-add opportunity with immediate yield. Carry out a full inspection, obtain up-to-date tenancy details and costed renovation estimates before committing; allow for management overheads in a higher-crime, high-turnover area.
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