Bidding war over St Leonards flat

A studio flat located on the second floor of a converted block in St Leonards was sold at auction after a bidding war this week.
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Flat 5 at 5 St. Margarets Road was among 135 lots in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.

It went under the gavel at £75,650 after sustained bidding at the firm’s auction which ended on Wednesday 7 February.

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Auction Appraiser Chris Milne said: “Strong pre-sale interest translated into competitive bidding which drove up the price.

SOLD: Flat 5 at 5 St Margarets Road, St LeonardsSOLD: Flat 5 at 5 St Margarets Road, St Leonards
SOLD: Flat 5 at 5 St Margarets Road, St Leonards

“The resulting sale price was 50% up over the original guide, leading to a great outcome for the vendor, while the purchaser has acquired a super property just a short distance from the seafront.”

Tenure was the remainder of a 99-year lease from 1981 at a peppercorn ground rent.

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.

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The next auction ends on Wednesday, 20 March, with bidding opening 48 hours beforehand. Lot entries close on Monday, 26 February, with the catalogue available from Friday, 1 March.

See for more details.