This property presents a noteworthy investment opportunity nestled in a desirable cul-de-sac in West St Leonards. The site is primed for development, with approved plans in place for the construction of a detached building featuring three two-bedroom flats. Such a project offers significant potential for both rental income and long-term appreciation, particularly given the location's proximity to local amenities and the scenic seafront.
According to the vendor, outline planning permission was initially granted in August 2018 for four two-bedroom flats, and although an application for three flats faced rejection earlier this year, an appeal has recently been granted, paving the way for construction to commence as early as November 2024. Relevant pre-build conditions have already been discharged, indicating that much of the groundwork necessary for development has been addressed.
The area itself not only boasts convenient access to essential services but also benefits from nearby recreational opportunities along the promenade, making it an attractive proposition for future tenants or buyers. This property is well-positioned to capitalize on demand in a sought-after neighborhood where new housing developments are increasingly valued. With strategic planning and execution, this site could become a lucrative addition to any investment portfolio.
