Eastbourne HMO sold at auction

A substantial house in Eastbourne, currently arranged as a fully-let HMO, was sold at auction this week.
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Six-bedroom 2 Cavendish Avenue 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.

Offered jointly with Scott Estates, it went under the gavel at £300,000 at the firm’s auction which ended on Wednesday 7 February.

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The semi-detached property is currently fully let, generating an income of £41,100 per annum.

HMO: 2 Cavendish Road, EastbourneHMO: 2 Cavendish Road, Eastbourne
HMO: 2 Cavendish Road, Eastbourne

Auction Appraiser Jade Flood said: “This fantastic opportunity to acquire an excellent property we considered ideal for continued investment proved irresistible.

“We had strong pre-auction interest from potential investors and achieved a solid sale on the day of the auction.”

The HMO is situated close to Eastbourne town centre and Eastbourne mainline railway station.

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The ground floor includes two bedroom/shower room and a communal lounge/diner and kitchen. At first floor level are a further four bedrooms and a bathroom.

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.

The next auction, the second of eight this year, ends on Wednesday 20 March. Closing date for entries is 26 February.

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