Auction bidding war over Brighton shop and flat

Mid-terrace 19 Upper Hamilton Road finally went under the gavel at £377,000 freehold after sustained bidding.

It was among 175 lots in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.

The property was sold for more than £100,000 above the lower guide price at the firm’s auction which ended on Wednesday 12 June.

This auction was the 250th to be staged since Clive Emson Auctioneers was founded in 1989.

The shop is currently let at £8,000 per annum with the flat vacant. The estimated rental value is £23,000 per annum.

Senior Auction Appraiser and Auctioneer Richard Payne said: “This one really took off and we had competitive bidding from the start.

“Our bidders recognised the worth and potential in this rare opportunity to acquire a bay-fronted period property arranged as a ground floor shop and a self-contained one-bedroom flat above.

“The shop is trading as Port Hall Stores and is let on a 10-year lease from 2022. The one-bedroom flat occupies the whole of the first floor and is in need of some repair but could be let to generate a good income once works have been carried out.”

The property is situated in the established residential Port Hall area of Brighton, between Dyke Road and Stanford Road and is in a popular commercial thoroughfare with pubs, cafes and schools in the immediate vicinity.

• In nearby Seaford, a flat with sea views – Flat 4 at 4 Pelham Place in Pelham Road – was sold for £72,000 leasehold an investment property.

The flat is let at £8,400 per annum on an assured shorthold tenancy.

Richard added: “This converted flat forms the whole of the second floor of this bay fronted mid-terrace property just off the seafront and enjoys panoramic views.

“We considered it ideal for continued investment, and our purchaser agreed.”

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 next auction begins on Monday 22 July and ends on Wednesday 24 July. Closing date for entries is Monday 1 July

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