Substantial Freehold Car Park with Residential Re-Development Opportunity (subject to consents)
Comprises a 7-Storey Car Park with 1,015 Spaces
Site Area of Approximately 0.49 Hectares (1.21 Acres) with a Site Coverage of 68%
Residential Re-Development Opportunity (subject to consents)
Prominent Town Centre Location
Adjacent to Eastbourne Train Station and 100m North of The Beacon Shopping Centre
Nearby Occupiers including Primark, New Look, Tesco Express, Sports Direct, H&M, Cineworld, Starbucks and Boots
Lot 50
Auction 9th May 2024
Vacant Possession
Status Available
Guide* £800,000+
Sector Development
Auction Venue Live Streamed Auction
On Behalf of a Major Fund and Eastbourne Borough Council
Property Information
Location
Miles
23 miles east of Brighton, 17 miles west of Hasting, 60 miles south-east of Central London
Roads
A22, A27, A259, M23
Rail
Eastbourne Railway Station
Air
London Gatwick Airport
Situation
The property is prominently situated on the south side of Junction Road, approximately 200 metres east of Eastbourne Railway Station and 100 metres north of the Beacon Shopping Centre. The immediate locality is a mix of residential and commercial property with nearby retailers including Primark, New Look, Tesco Express, Sports Direct, H&M, Cineworld, Starbucks and Boots.
Tenure
Freehold. and Long Leasehold held for a term of 99 years from 31/03/1987 at a fixed peppercorn rent.
Location
Miles
23 miles east of Brighton, 17 miles west of Hasting, 60 miles south-east of Central London
Roads
A22, A27, A259, M23
Rail
Eastbourne Railway Station
Air
London Gatwick Airport
Situation
The property is prominently situated on the south side of Junction Road, approximately 200 metres east of Eastbourne Railway Station and 100 metres north of the Beacon Shopping Centre. The immediate locality is a mix of residential and commercial property with nearby retailers including Primark, New Look, Tesco Express, Sports Direct, H&M, Cineworld, Starbucks and Boots.
Tenure
Freehold. and Long Leasehold held for a term of 99 years from 31/03/1987 at a fixed peppercorn rent.
Description
The property comprises a substantial 7-storey car park with 1,015 parking spaces. The property has a site area of approximately 0.37 hectares (0.91 acres) with a site coverage of 68%.
Please note the car park is not currently in operation and may be suitable for residential redevelopment, Subject to consents.
VAT
VAT is applicable to this lot.
Note
The Property is subject to restrictive covenants in favour the Duke of Devonshire both of which are considered active covenants which will need to be complied with:
1. Indenture dated 25 December 1883 – not to alter the exterior of this part of the Property in any manner or erect upon the Property any new or additional buildings or erections whatsoever without the consent in writing of William Duke of Devonshire his heirs or assigns or the owners for the time being of Compton Place and not to use this part of the Property as a public house or beer shop or for carrying on any offensive trade or business
2. Indenture dated 31 December 1884 - not to alter the exterior portion of this part of the Property nor erect any additional building without the consent in writing of William Duke of Devonshire and not without the same consent to use this part of the Property as a public house beer shop or shop or for carrying on any trade or business except that of a mason or builder not permit anything which might be a nuisance injury or annoyance to any land of the said Duke adjoining or near to it or to the tenants of such land or anything which tend to deteriorate the value of such land.
Part of the land (on the South West) forming part of the freehold interest owned by Eastbourne Borough Council has Possessory Title only. Eastbourne BC have made an application to upgrade the title given the length of ownership, but this application has not yet been completed
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial 7-storey car park with 1,015 parking spaces. The property has a site area of approximately 0.37 hectares (0.91 acres) with a site coverage of 68%.
Please note the car park is not currently in operation and may be suitable for residential redevelopment, Subject to consents.
VAT
VAT is applicable to this lot.
Note
The Property is subject to restrictive covenants in favour the Duke of Devonshire both of which are considered active covenants which will need to be complied with:
1. Indenture dated 25 December 1883 – not to alter the exterior of this part of the Property in any manner or erect upon the Property any new or additional buildings or erections whatsoever without the consent in writing of William Duke of Devonshire his heirs or assigns or the owners for the time being of Compton Place and not to use this part of the Property as a public house or beer shop or for carrying on any offensive trade or business
2. Indenture dated 31 December 1884 - not to alter the exterior portion of this part of the Property nor erect any additional building without the consent in writing of William Duke of Devonshire and not without the same consent to use this part of the Property as a public house beer shop or shop or for carrying on any trade or business except that of a mason or builder not permit anything which might be a nuisance injury or annoyance to any land of the said Duke adjoining or near to it or to the tenants of such land or anything which tend to deteriorate the value of such land.
Part of the land (on the South West) forming part of the freehold interest owned by Eastbourne Borough Council has Possessory Title only. Eastbourne BC have made an application to upgrade the title given the length of ownership, but this application has not yet been completed
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Use
Approximate Hectares
(Approximate Acres)
Possession
Multi Story Car Park and Parcel of Land
0.49
(1.21)
VACANT POSSESSION
Total Approximate Land Area
0.49
(1.21)
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
