St Leonards flats sell for £538,000 at auction

Detached 26 Filsham Road, which generates £38,767.64 per annum in rent, went under the gavel at £538,000 freehold.

It was among 131 lots in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers which ended on Thursday 4 May.

Auction Appraiser Chris Milne said: “We had strong interest in freehold block of five one-bedroom flats and one two-bedroom flat, which are all currently let.

“This led to competitive bidding which ended with a great result for both vendor and purchaser. We had considered this property perfect for continued investment and our buyer agreed.”

The block is located in a predominantly residential area on the outskirts of St Leonards, a short distance from St. Leonards West railway station, the seafront, various shops and amenities.

St Leonards town centre and St. Leonards Warrior Square railway station are also within close proximity.

 A semi-detached house needing renovation at 7 Edwin Road, Hastings, was sold for £250,000 freehold at the auction.

Chris added: “Although this property, including an attic room, is now in need of full renovation, we felt that once enhanced it would be well suited as an investment or family home – and our buyer saw its potential.

The three-bedroom house is located in a popular residential area on the outskirts of Hastings, a short distance away from Ore village and also Hastings town centre with its various local and national retailers, schools, seafront and further amenities.

 A mixed-use commercial and residential property at 56 Queens Road, Hastings went under the gavel at £171,000 freehold as an investment opportunity.

The property, arranged as a café on the ground floor and a one-bedroom self-contained flat on the first floor, is currently let at £13,740 per annum.

Chris said: “We considered this to be a worthy addition to any property portfolio and ideal for continued investment – and it was acquired as precisely that.”

The mid-terrace property is located in Hastings town centre, surrounded by an array of various local and national retailers.

The retail unit is let under the terms of a licence agreement at £6,540 per annum and the flat is let on an assured shorthold tenancy agreement at a current rental of £600 per calendar month.

Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.

The next auction, the fourth of eight this year, ends on Thursday 15 June. Closing date for entries is 22 May with the catalogue available from 26 May.

See cliveemson.co.uk/ for more details.