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The freehold residential property in 8 Stockleigh Road sold for £450,000.

The property, which comprises of four flats, is currently let at £20,340 per annum.

Freehold properties are where a person or organisation has outright ownership of the property and the land on which it is built.

Four flats in St Leonards were sold at auction by Clive Emson. The freehold residential property in 8 Stockleigh Road sold for £450,000. SUS-220604-140248001

Last year the UK house prices grew at the fastest rate since 2004, with the average home in March 2022 costing £33,000 higher than March 2021.

Sam Kinloch, director and senior auctioneer valuer at Clive Emson, said: “Property continues to prove attractive for investors because of long-term capital gains, rental income and as a hedge against the rising costs of living caused by inflation.”

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Here’s how much four flats in St Leonards went for at auction