5 Gildredge Road Eastbourne

This was Area Developments first acquisition in 2013. Situated very close to Eastbourne main line station the building comprised a ground floor shop and vacant offices on the first and second floors.

Area Developments changed the use of the offices and successfully converted the upper part of the building into 4 self-contained flats. Two have been sold on long leases and the remaining two are let on Assured Shorthold Tenancies.

The lease on the shop was renegotiated with the tenant, Elite Lettings and Management Services, with whom Area Developments have established an excellent continuing working relationship both in property management and the letting of several of the investments in the Area Developments portfolio.