Former Eastbourne restaurant and flats to go under the hammer

A four-storey terraced property including flats and a former restaurant near the seafront in Eastbourne is coming up for auction later this month.
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The property at 122-124 Seaside Road has planning consent for two more flats to be added.

It is among 105 lots in the latest online-only auction being held by Clive Emson Land and Property Auctioneers.

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The freehold guide price for the property, which is being offered at the firm’s online auction which ends on Wednesday, March 24, is £380,000 to £400,000.

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A spokesperson said, “The building is arranged as a former restaurant on the ground floor with a basement below and three self-contained flats occupying the first and second floors.

“The property is currently let at £20,700 per annum and was previously fully let at £30,900 per annum.

“Planning permission has been granted to convert the ground floor to form one studio flat and one two-bedroom flat. With planning consent in place for full residential conversion, this will make an excellent addition to any portfolio once the building works have been carried out.”

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Also coming up in the auction is a block containing three self-contained flats at 121 Tideswell Road, which is being offered with a freehold guide price of £270,000 to £280,000 as an investment opportunity.

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Two flats are currently let at a total of £12,960 per annum and the block was previously fully let at £21,360 per annum.

Stable buildings with potential and a plot of land once grazed by alpacas near Polegate is also set to go under the auctioneer’s gavel.

Little Mullbrooks in Summerhill, a parcel of land extending to approximately 6.78 acres, is being offered with a freehold guide price of £170,000.

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Auction appraiser Chris Milne said, “This is a unique opportunity to acquire this land situated in a quiet country lane close to the town of Polegate in the Sussex Weald.

“The land, which has been used to graze alpacas for a number of years, is home to eight stables and a large barn.

“It is considered there could be potential for a variety of uses including perhaps some development, subject to all necessary consents being obtainable.”