1 Beach Road, Littlehampton

Description

A substantial freehold commercial property occupying a prominent position within Littlehampton town centre. The vacant property comprises a former bank building together with office and retail accommodation and benefits from planning permission for a comprehensive mixed-use redevelopment scheme. Consent has been granted for the conversion and reconfiguration of the building to provide four commercial units and six residential flats. The property also presents asset management potential through letting the accommodation in its current configuration.

Accommodation

Approximate GIA of 6,729 sq ft. Proposed commercial units: Commercial Unit 1: 45 sq m (484 sq ft); Commercial Unit 2: 58 sq m (624 sq ft); Commercial Unit 3: 78 sq m (840 sq ft); Commercial Unit 4: 84 sq m (904 sq ft). Proposed residential units: Flat E (3 bed): 87 sq m (936 sq ft); Flat F (1 bed): 51 sq m (549 sq ft); Flat G (2 bed): 87 sq m (936 sq ft); Flat H (1 bed): 58 sq m (624 sq ft); Flat J (2 bed): approximately 101 sq m (1,087 sq ft), part under 2m height; Flat K (1 bed): 45 sq m (484 sq ft).

Location

The property occupies a prominent position on Beach Road in Littlehampton, a West Sussex coastal town, a short distance from the town centre and seafront. Littlehampton has residential, retail and leisure amenities and is positioned between Brighton, Chichester and Worthing. Littlehampton Railway Station provides services to London Victoria, Brighton and Portsmouth. The A259 and nearby A27 provide access to Worthing, Chichester and the wider South East road network.

Tenure / Property Information

Investment Analysis

The £400,000 guide is the only current pricing evidence and is not a formal valuation. The supplied Land Registry evidence comprises historic sales of the same address in 1997 and 2000, described as detached, so it does not establish the current value of this vacant commercial property or the proposed mixed-use scheme. No sufficiently specific rental evidence, development cost plan, buyer fee, or comparable mixed-use sales evidence is supplied. Accordingly, GDV, refurbishment costs, rent, yield and maximum bid cannot be reliably estimated.

Investment Snapshot

Strategy Recommendation

Do not bid based on the supplied evidence alone. Proceed only after independently verifying the planning permission, obtaining a detailed conversion cost plan, valuing the proposed commercial and residential elements, assessing rents, and confirming the buyer fee and all acquisition costs.

Works Required

Implement the granted planning scheme involving conversion and reconfiguration into four commercial units and six residential flats. The evidence does not provide sufficient detail to specify structural, services, fire-safety, accessibility, finish, or compliance works, nor any cost allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The purchase price is guided at £400,000, but refurbishment/development costs, completed GDV, achievable rents, finance costs and the unspecified buyer fee are unavailable. Refinance proceeds and cash left in cannot be calculated.

Buy-to-Let Analysis

The property is vacant and has potential for letting in its current configuration, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. A BTL yield, operating return, or supported purchase price cannot therefore be established. The proposed scheme would create six flats and four commercial units, but projected rents and costs are unavailable.

Flip Analysis

A flip calculation is unsupported because there is no evidence-based GDV, development cost plan, selling allowance, or comparable completed mixed-use sales. The historic same-address sales are dated 1997 and 2000 and described as detached, so they do not support a current resale valuation for the proposed scheme.

Investor Risks & Due Diligence

• The buyer's fee is payable but its amount is unspecified.

• No refurbishment or conversion cost estimate is supplied for the comprehensive mixed-use redevelopment.

• Planning permission is mentioned, but the consent details, conditions and deliverability are not provided.

• No current comparable mixed-use sales evidence supports the guide price or completed GDV.

• No sufficiently specific rental evidence supports residential or commercial income assumptions.

• Flat J includes part of the accommodation under 2m height, which may affect usability or valuation.

• The property is vacant and no passing income is available.

Recommendation

Do not bid based on the supplied evidence alone. Proceed only after independently verifying the planning permission, obtaining a detailed conversion cost plan, valuing the proposed commercial and residential elements, assessing rents, and confirming the buyer fee and all acquisition costs.

Strategy Rating

Analysis Confidence

The evidence confirms the property description, freehold tenure, vacancy, guide price and proposed accommodation, but provides no usable current valuation, rental evidence, works budget, buyer fee, or development appraisal inputs.