Cromwell Road, Hove
South East
£1,000,000Guide Price
Listed on 06/10/2026
Listed on 06/10/2026
The listing
Property details
Bedrooms
8Type
HouseFeatures
- Garden
- HMO
Description
Offered at auction, this substantial freehold building is currently arranged as a licensed eight-bedroom HMO. The listing describes a possible alternative layout of five self-contained two-bedroom apartments, one on each floor. A previous planning approval for a residential scheme on the top floor has lapsed; any new proposal would require fresh enquiries and consent from the local planning authority.
The agent estimates a gross development value of approximately £2,225,000 for the five-apartment scheme, subject to planning, specification, market conditions and purchaser due diligence. The sizeable rear garden is also identified as a possible site for an additional dwelling, subject to planning permission. The property is available for viewing, with a legal pack to follow ahead of the auction.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
66out of 100
Grade CPotential opportunity
Confidence: LOW
This is a substantial, centrally located period building with a usable existing eight-bedroom HMO layout, intact-looking stone elevations and a leafy enclosed garden. The visible interiors are generally serviceable, with selective cosmetic updating to finishes and bathroom details offering a manageable improvement project; the renovation range is £8,000–£18,000.
The strongest upside is the listing’s proposed five-apartment scheme, with an agent-stated GDV of £2,225,000. That is a substantial spread against the £1,000,000 asking price, and the stated all-in calculation includes the purchase price plus the refurbishment midpoint; the GDV remains the agent’s claim, not an independent valuation, and the cited planning approval has lapsed. Floor area is missing, so value versus local £/sq ft cannot yet be judged. The listing is for auction: bidding can take the hammer above the guide, so the eventual price may not stay this cheap.
Key opportunities
- Explore the proposed five-apartment conversion, using the lapsed planning approval as precedent rather than assuming consent will be renewed.
- Improve dated interior finishes and bathroom details selectively while retaining serviceable fitted kitchens and period features.
- Make use of the substantial enclosed garden as an established outdoor amenity; any additional dwelling would depend on planning permission.
Key risks
None recorded.
Unlock the full analysis
Sign up to see the refurb profile, below-market value, yields, and local market trends for this and every other property that has them.
Sign up freeAlready have an account? Sign in
Interested in similar properties?
Create an alert and we'll notify you when similar renovation opportunities are listed.
Finance
Mortgage calculator
Illustrative repayments based on the asking price, not a mortgage offer.
£
£
£
%
%
years
Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£3,778
Based on a loan of £750,000 over 30 years at 4.45% interest
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
Tax
Stamp duty calculator
Indicative tax based on the asking price and the options you select.
Services
Next steps
Explore services to help you with this property purchase.
Get help with this property
Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.
Nearby
Similar properties
Other listings you may want to compare.
