Gloucester Road, Bognor Regis 5 bed block of apartments for sale

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Gloucester Road, Bognor Regis 5 bed block of apartments for sale

Gloucester Road, Bognor Regis PO21
£450,000

Our Summary

  • This unit has been partly refurbished / re-constructed and will require further investment to complete
  • We note that while some parts of the property are beautifully presented and ready to go, there are several areas that need some investment and tlc
  • Investment Opportunity

Description

This substantial semi-detached property has been used as a guest house since 1927 and is located just 85 meters from the Bognor Regis seafront promenade. The current seller lives in one of the top-floor units and is retiring, leaving no forward chain. The property comprises five units, including a beautifully presented ground-floor front unit with a lounge, bedroom, and ensuite shower room, as well as a ground-floor rear unit with a lounge, kitchen area, large bedroom, and main bathroom. The first-floor front unit has been partly refurbished and will require further investment to complete, while the first-floor rear unit is used as the seller's current home and has a shower room, kitchen area, and two bedrooms. The property has a rich history of generating income, with historical room rates varying by season and demand. The seller is willing to assist the new owner in restarting the business and sharing industry contacts and customers if requested. The property requires some investment and TLC, but offers a unique opportunity for those looking to operate a professional hospitality business or owner-occupiers who rent out rooms to generate income.