187 Queens Road, Hastings, East Sussex

Description

A five storey mixed-use property occupying a prominent position on Queens Road, within easy reach of Hastings town centre and mainline railway station. The property comprises ground floor retail accommodation with mezzanine storage room, together with a maisonette arranged over three upper floors, along with basement accommodation and rear yard. The property is considered to offer potential for reconfiguration, conversion or alternative uses, subject to all necessary consents being obtainable. Interested parties are advised to make their own enquiries with the Local Planning Authority.

Accommodation

Basement: Under-stairs shower cabinet (decommissioned) and utilities area (working), two reception rooms, split level reception room with substantial timber work bench leading to outside courtyard. Ground Floor: Glass shop front with door leading to open plan retail area, rear store room with W.C accessible through retail area and with separate access from maisonette hallway. First Floor Mezzanine: Second portal door to mezzanine room. First Floor: Bathroom with W.C., reception room and living room with internal door to split level bedroom on first floor mezzanine. Second Floor Mezzanine: Bathroom with W.C. Second Floor: Kitchen/breakfast room and reception room. Third Floor: Bedroom with double aspect dormers and a glazed door leading to roof terrace.

Location

Queens Road is a main thoroughfare serving Hastings and provides a varied mix of retail, commercial and residential accommodation. The property is within easy reach of Hastings town centre and mainline railway station.

Tenure / Property Information

Investment Analysis

The £160,000–£165,000 guide is not independently supportable as market value from the supplied evidence. The available sold comparables are historic (2004–2016), mainly terraced or maisonette properties, and are not sufficiently comparable to this five-storey mixed residential/commercial freehold building. The £2,000 pcm rental evidence relates to a commercial property asking rent on Queens Road and cannot be applied to the whole property without evidence for the maisonette, achievable commercial rent, areas or lease terms.

Investment Snapshot

Strategy Recommendation

Proceed only after detailed legal, planning, building and valuation due diligence. Do not rely on the guide price, commercial asking rent or a conversion strategy until current value, works, consents and all fees are confirmed.

Works Required

No specific defects or quantified works are supplied. Obtain measured surveys, inspect the basement, retail accommodation, maisonette, roof terrace and services, and assess any reconfiguration, conversion or alternative-use scheme subject to planning and other necessary consents. Budgeting cannot be reliably established from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence because the GDV, refurbishment cost, total achievable rent, finance costs and applicable buyer/admin charges are not established. Any reconfiguration or conversion strategy also depends on obtaining the necessary consents.

Buy-to-Let Analysis

BTL returns cannot be established for the whole building. The only rental evidence is a £2,000 pcm advertised asking rent for a commercial property on Queens Road, which is not stated to be this property and excludes supported residential maisonette rent. Vacant possession also means there is no passing rent.

Flip Analysis

A flip appraisal cannot be calculated reliably. The historic comparables do not establish a current GDV for this mixed-use building, while works, consent requirements, selling costs and applicable non-optional fees are unspecified.

Investor Risks & Due Diligence

• The proposed reconfiguration, conversion or alternative uses are subject to all necessary consents, which have not been confirmed.

• Residential rental evidence for the maisonette is not supplied.

• The £2,000 pcm figure is an advertised commercial asking rent and is not confirmed as achievable rent for this property.

• The sold comparables are historic and materially different in type and/or configuration.

• Administration, search, other non-optional fees, Stamp Duty, Land Registry fees and VAT may apply, with amounts not specified.

• The building is offered with vacant possession, so there is no established passing income.

Recommendation

Proceed only after detailed legal, planning, building and valuation due diligence. Do not rely on the guide price, commercial asking rent or a conversion strategy until current value, works, consents and all fees are confirmed.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy and guide range are supplied, but there is no current comparable valuation, whole-property rent, measured accommodation schedule, works budget, planning position or quantified buyer/admin costs.