Summary - 6, PIER TERRACE NR33 0AB
4 bed 3 bath Mixed Use
Freehold terrace near seafront with significant refurbishment upside and rental potential.
Over 3,000 sq ft across four floors plus basement
Ground-floor commercial unit with prominent Victorian shopfront
One flat let at £450 pcm; remainder vacant for refurbishment
Estimated post-refurb income c. £22,000 per annum
Basement with three rooms and WC — conversion potential
Rear garage; on-street parking only; small external space
EPC ratings E across units; full modernisation required
Medium flood risk; very high local crime; very slow broadband
A substantial freehold terrace in a prime harbourside parade, arranged over four floors plus basement, currently offering a ground-floor commercial unit, a three-bedroom flat and a one-bedroom flat. The building totals over 3,000 sq ft and includes a rear garage and on-street parking, giving clear scope for income generation once modernised.
One flat is currently let at £450 pcm; the remainder is vacant. Refurbishment throughout is required, and the estimated fully-refurbished rental income is around £22,000 per annum. The basement (three rooms and WC) provides conversion potential for additional accommodation or storage, subject to consents.
Buyers should note material negatives: the property has E EPC ratings across units, business rates of £5,600 for the commercial unit, medium flood risk, very high local crime levels, very slow broadband and is located in a very deprived, constrained-renters area. Construction is Victorian solid brick with no assumed insulation and heating is by room heaters/mains gas; updating to modern standards will be necessary.
This building will suit an investor or an owner-operator seeking a coastal commercial/residential asset with value-add potential. The location near the seafront, station and town centre supports leisure and retail demand, but realistic refurbishment budgets and safety/security measures should be factored into acquisition and letting plans.
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