Eastbourne town centre property to go up for auction

A mixed residential and commercial property in Eastbourne town centre is set to go up for auction.

The auction, which ends on Thursday, June 16, will see 50-54 Grove Road being offered with a £350,000-£360,000 freehold guide price – according to Clive Emson Land and Property Auctioneers.

The property, which has been described as an investment opportunity, is among 121 lots in the latest auction being held by the company.

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A Clive Emson Land and Property Auctioneers spokesperson said, “The property comprises three commercial units and a two-bedroom flat currently producing £28,140 per annum, along with a further commercial unit and flat which have been sold on 125-year leases, producing a total ground rent of £200 per annum.”

50-54 Grove Road. Picture from Clive Emson Land and Property Auctioneers

The three commercial units contain Mande, Skylark and Scorch!.

A spokesperson clarified that the site of Scorch!, along with the flat above, have been sold so it’s just the freehold of those that is being auctioned.

Skylark said it is staying open while Scorch! has confirmed it is planning to reopen on July 4.

Mande has not responded to messages.

93-95 Terminus Road. Picture from Clive Emson Land and Property Auctioneers

Auction appraiser Chris Milne added, “This substantial building is located within easy reach of Eastbourne town centre with its various local and national retailers and the mainline railway station, the seafront and further amenities.

“We consider it ideal for continued investment and anticipate strong interest from investors seeking to include both residential and commercial properties in their portfolios.”

A six-bedroom maisonette at 93-95 Terminus Road is also being offered with a leasehold guide price of £220,000-plus and vacant possession, according to the auctioneers.

The spokesperson said, “The substantial three-storey maisonette is surrounded by many national and local retailers, the Beacon Centre and other amenities.

"Also within close distance is Eastbourne mainline railway station and the seafront.”

Mr Milne added, “Once enhanced, the property is considered ideal for owner occupation, or investment, or even sub-division into flats – subject to all necessary consents being obtainable.”

Tenure is the remainder of a 150-year lease from September 2004.