This substantial three-storey mixed-use investment property occupies a prominent corner location along the North Promenade, just 200 meters from the Town Centre and North Pier. Currently, the property is divided into six commercial units that are fully let, generating an annual rental income of approximately £50,000. The presence of council car parks nearby enhances accessibility for both customers and tenants.
The ground floor hosts a variety of businesses, including a well-established lodge hotel with multiple en-suite accommodations and common areas. In addition to the hotel, there are retail spaces featuring a toy store, gift shop, collectibles outlet, and a café—all contributing to a diverse commercial environment. These units not only provide stable cash flow but also offer opportunities for future enhancements or modifications.
One notable aspect of this property is its potential for renovation and redevelopment. With the possibility of transforming parts of the building into residential apartments—subject to planning permissions—there's significant scope for value appreciation. Investors might explore various avenues: refreshing the existing retail spaces to appeal to modern consumers or converting underutilized areas into living spaces.
Each commercial unit operates under varied lease agreements, some with long-standing tenants which can provide stability in cash flow. As current leases mature, there may be opportunities for rent increases or reimagining space usage to capture higher yields.
In summary, this mixed-use property not only presents immediate income potential through established businesses but also allows room for strategic improvements and redevelopment that could significantly enhance its value over time. Its location on the bustling North Promenade further solidifies its attractiveness as an investment vehicle in a thriving area.
