Eastbourne HMO goes up for auction

An established House in Multiple Occupation (HMO) generating rent of almost £70,000 a year in Eastbourne is coming up for auction as an investment later this month. (thur 24 sept)

Substantial 10 Cornfield Terrace is among 228 lots listed across southern England in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Auctioneers.

Offered jointly with Town Property, it is listed with a freehold guide price of £480,000 to £500,000 at the firm’s auction – the biggest September auction since the pandemic – which ends on Thursday 24 September.

The eight-bedroom HMO is currently let at £69,120 per annum.

Senior Auction Appraiser and Auctioneer Richard Payne said: “This substantial mid-terrace property, dating from circa 1860, is arranged over four floors and has eight letting rooms with shared living room, kitchen, toilet and shower facilities.

“There are sea views from the upper floors with a number of attractive original period features, including fireplaces, original room dividers and timber shutters, plus a gas heating system via radiators.

“The eight letting rooms are currently let on assured periodic tenancies at £720 per calendar month per room, producing a gross annual rental income of £69,120, exclusive of management costs and utilities.

“The property offers an immediate income-producing investment with a proven operational history spanning more than fifteen years and we consider it ideal for continued investment.”.

“There may also be future potential for reinstatement as a single private residence or alternative residential configurations, subject to obtaining all necessary planning and statutory consents.”

The house is situated in a central and convenient location in the heart of the town centre close to all shopping facilities and amenities with the mainline railway station and seafront within easy reach.

Also offered as an investment chance is two two-bedroom property 5 Glenmore Mews in Eastbourne, which is currently let at £12,000 per annum and listed with a freehold guide price of £150,000 to £160,000.

The end-terrace house is situated in a popular residential area of Eastbourne, within easy reach of Eastbourne railway station and local amenities. The property has a rear garden and allocated parking space.

Auction Appraiser Jade Flood said: “This property offers an investment opportunity with convenient transport links to the town centre, seafront and wider East Sussex.

“It is let on an assured periodic tenancy, from September 2023, at a current rental of £12,000 per annum and we anticipate strong interest for a solid investment property.”

Watch the video: https://www.cliveemson.co.uk/properties/268/132/

Two-bedroom first floor Flat 3 at 104 Seaside Road, Eastbourne is leasehold guided £95,000 to £105,000 with vacant possession.

This flat is well-positioned in the heart of Eastbourne town centre, conveniently located within easy reach of Eastbourne railway station, the seafront, local shops, cafés, restaurants and a wide range of everyday amenities.

Jade added: “The property would make an ideal investment or first-time purchase.”

Tenure is the remainder of a 99-year lease from March 1999 at a current ground rental of £60 per month.

Watch the video: https://www.cliveemson.co.uk/properties/268/24/

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.

Bidding for the current auction, the sixth one of 2026, goes live on Tuesday 22 September and concludes on Thursday 24 September.

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