Bourne Townhouse
Eastbourne
6 Luxury Microflats
Completed January 2024
Total Acquisition Costs - in excess of £680k
GDV - £1,092,000
Yield - 18%
Bourne Townhouse consists of 6 luxury bedsits located in the heart of Eastbourne.
Our rentals include all bills – council tax, gas, electricity, netflix, wifi and weekly housekeeping.
All units are fully furnished and consist of a spacious bedroom with en-suite and kitchenette. We work with a great team and pride ourselves in considering all aspects of spatial design to maximise the enjoyment of our clients.
The property was subject to an extensive schedule of works which was expected to take 6 months but ran slightly over due to site restrictions and weather.
We have done this enough to know there are always surprises, some of them bigger than others. Our first challenge on this project was unsecured purlings requiring remedial works to replace and secure, a cost not accounted for but covered by our contingency. The other surprise was the removal in total of 25 tons of earth to create the extension, all of which had to be excavated by hand and taken by wheelbarrow up a flight of stairs as we couldn’t get any machinery into the area.
Our usual back to brick renovation included new electrics, heating and plumbing plus the creation of kitchens and en-suites. Multiple chimneys were also removed to maximise the internal space and accommodate the layouts our units demand.