Mixed-use investment chance in Storrington

Dems House and Havant House in Mill Lane are among 178 lots in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.

Offered as one lot the properties are listed with a £525,000 to £550,000 freehold guide price at the firm’s auction which ends on Wednesday, September 18.

They are currently part-let at £38,500 per annum with the estimated rental £58,500 per annum

Havant House is arranged over three floors as four self-contained flats, all sold on long leases with two commercial units on the ground floor producing £20,000 per annum in total.

Dems House is arranged over two floors as four self-contained commercial units with the two ground floor units producing £18,000 per annum in total with the two first floor units vacant but being marketed at present with a combined potential rental of £20,900 per annum.

Senior Auction Appraiser and Auctioneer Richard Payne said: “There is potential to convert the two vacant commercial units to residential, including the possibility of an additional floor on both of the properties, subject to all necessary consents being obtainable.

“It is also considered that there is the potential for rental growth on the existing shops.”

The units are approached via a shared driveway and there are 10 parking spaces shared between the commercial and residential elements. They are two detached contemporary-style properties of part-tile hung/part cement rendered elevations beneath a flat roof.

In the town centre of Storrington, the properties adjoin the main car park with multiples such as Waitrose, Boots and Costa represented and other independent and national retailers in close proximity. There are excellent road links to Worthing, Horsham and all surrounding areas via the nearby A24/A27.

In nearby Petworth, a detached three-bedroom home needing improvement but with countryside views is also listed at the auction

The Lodge in Haslingbourne Lane has a freehold guide price of £495,000-plus with vacant possession

This house is located in the picturesque West Sussex countryside, close to Petworth and the A283, making for easy commuting to larger towns and cities in the area.

The property comprises of a double aspect living room, with views of the countryside and access to a sun room, as well as an open plan kitchen and dining room with a separate utility room and WC all on the ground floor.

On the first floor are three double bedrooms and a bathroom. The principal bedroom has its own en-suite with a balcony with views across surrounding fields. Outside there are manageable gardens to the front and rear with a double garage and driveway.

Auction Appraiser Joe Rocks said: “The property requires a scheme of refurbishment but is considered very worthy of a scheme of works, after which it will be ideally suited to an owner occupier or for re-sale into the local market.”

Watch the video: https://www.cliveemson.co.uk/properties/252/175/

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 sixth of eight this year, goes live on Monday, September 16 and ends on Wednesday, September 18.

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