Eastbourne investment property sold at auction

Three-storey 36 Meads Street was among 147 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 Hunt Commercial, it was sold for £123,000 leasehold at the firm’s auction which ended on Wednesday 20 March.

Senior Auction Appraiser and Auctioneer Richard Payne said: “We had strong interest in this attractive investment opportunity with the property let on a 10-year lease and currently trading as a wine merchants.

“Our bidders could see the worth in continued investment in a property currently let at £12,500 per annum and generating a good income.”

The property occupies a prominent corner location in the heart of the sought-after Meads district of Eastbourne at the junction of Matlock Road and Meads Street.

It is in a good trading location in a secondary commercial throughfare with the area represented by multiples including Co-op, Tesco Express and a variety of independent local traders.

Also in Eastbourne, a commercial investment opportunity at 202 Seaside, offered jointly with Hunt Commercial, was sold for £73,000 leasehold.

The three storey property is arranged as a lock-up shop and a pair of one-bedroom flats each sold on long leases.

Richard added: “The shop is let on a six-year lease – trading as Eastbourne Technical Repairs – and generates £8,000 per annum in rent. We considered it ideal for continued investment – and our purchaser agreed.”

The building occupies a prominent corner position at the junction of Springfield Road and Seaside in a busy secondary trading location with the area represented by multiples including Sainsburys Local and a variety of independent traders.

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 third of eight this year, goes live on Monday 29 April and ends on Wednesday 1 May. Entries close on 8 April with the catalogue available from 12 April.

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