Six flats go under hammer for £400k

A BLOCK of six flats at 2 Elmstead Road, Bexhill, has gone under the auctioneer's hammer for £400,000.

It was one of 26 lots available with Clive Emson land and property auctioneers at the Hilton Brighton Metropole in Brighton on Tuesday, April 5.

The block comprises three one-bedroom flats, two two-bedroom flats and one three-bedroom flat.

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Clive Emson valuer Emma Attrell said: “We anticipated keen interest from bidders wanting to see a better return on their savings because of the historically low interest rates, and this proved to be the case.

“The property generates £22,800 a year, with the estimated rental at £33,600 a year. Somebody went away very happy today.”

In total £1.55m was raised in sales, with nearly 200 people attending the auction. Clive Emson’s next regional auction takes place at the same venue on Tuesday, June 7, at 11am.

Lots include leasehold 34 Sackville Road in Bexhill, a vacant ground floor shop in “need of some refurbishment”, guide £50-55,000, and a first floor flat at 62 Wickham Avenue, Bexhill, with a leasehold guide of £75-85,000.

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