A busy part of Terminus Road has been bought by Eastbourne council ahead of a possible major facelift.
The sale of Victoria Mansions includes 22 retail units and 18 residential properties.
Observers say the sale represents an excellent investment opportunity for the council, both in regard to improving a key commercial zone within the town centre and the income this mixed-use acquisition will generate.
Additionally, coupled with land the council already owns land behind Victoria Mansions, there is now scope to refurbish existing residential properties in this area and develop a number of new homes.
Eastbourne council leader David Tutt said, “The renaissance of Victoria Mansions is of fundamental importance.
“The high standards and values we will achieve on these other major projects will soon be reflected in this gateway to the seafront and main retail and leisure areas.
“The next few years will be among the most exciting in generations for people who love Eastbourne. Our town centre is being transformed.”
Eastbourne Chamber of Commerce boss Christina Ewbank said, “At a time when the multi-million pound redevelopment of the Arndale Shopping Centre is gathering pace, I’m thrilled the council has stepped in and purchased this important part of the town centre.
“The southern end of Terminus Road has become very tired and under-appreciated despite the fact it is a main thoroughfare into the town from the seafront.
“I hope to see dynamic changes that deliver rapid enhancements in the streetscape, higher quality shops and improvements to the buildings. I’m also sure the council will be looking to organise events and other attractions as part of this exciting regeneration.”