Eastbourne building with seven flats goes up for auction

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A fully-let residential property comprising seven flats generating more than £53,000 a year in Eastbourne is coming up for auction as an investment opportunity later this month.

Three-storey 26 Bourne Street is among 165 lots in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.

It is listed with a freehold guide price of £450,000 to £475,000 at the firm’s auction which ends on Wednesday, July 24.

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Senior Auction Appraiser and Auctioneer Richard Payne said: “This is a great opportunity to acquire a freehold residential investment arranged over three floors as seven self-contained converted studio flats.

AUCTION: 26 Bourne Street, Eastbourne.AUCTION: 26 Bourne Street, Eastbourne.
AUCTION: 26 Bourne Street, Eastbourne.

“The building is fully let and produces £53,232 per annum. It is considered there is potential for rental growth.”

The building occupies a prominent corner location at the junction of Bourne Street and Pevensey Road, within easy reach of the comprehensive shopping facilities and amenities of the town centre.

The seafront and mainline railway station are easily accessible with excellent road links to Brighton and Hastings via the nearby A27 and A259.

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A two-bedroom flat with sea views, Flat 10 in Regency Court at 4-5 South Cliff, Eastbourne, is listed with a leasehold guide price of £200,000-plus with vacant possession.

Richard added: “This well appointed two-bedroom flat with direct sea views occupies part of the third floor of a contemporary purpose-built block of apartments.

“It provides light and spacious accommodation with a gas heating system via radiators, double glazing throughout and a share of the freehold.

The flat is situated in the sought-after Meads district of Eastbourne, directly on the seafront, close to all amenities.

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Tenure is the remainder of a 999-year lease with a share of the freehold.

In nearby Pevensey, a mixed commercial and residential property with a garage at 10A Richmond Road has a freehold guide price of £190,000 to £195,000 with vacant possession.

The property is located within easy reach of Pevensey Bay railway station and the seafront as well as Eastbourne with its wide range of local and national retailers, schools, railway station and further amenities.

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Auction Appraiser Chris Milne said: “The property comprises a shop on the ground floor, a self-contained residential unit occupying part of the ground floor/first floor and a garage located to the rear of the property.”

Two lock-up garages behind shops in Pevensey are being offered as separate lots, each with a freehold guide price of £8,000-plus.

Garage 3 and Garage 4 are located to the rear of a parade of shops on Richmond Road, a short distance from Pevensey Bay beach and Pevensey Bay railway station.

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.

Bidding for the current auction, the fifth of eight this year, goes live on Monday 22 July and ends on Wednesday 24 July.

See https://www.cliveemson.co.uk/ for more details.

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