Property News: Auction Stations
From bungalows and buy-to-let flats to a former builder’s yard and garden nursery, properties and development land across Sussex are to go under the auctioneer’s hammer this month.
They are among the 25 latest lots in the county being sold by regional land and property auctioneers Clive Emson.
Starting at 11am, the auction takes place at the Hilton Brighton Metropole, on Thursday, September 17.
Richard Payne, auctioneer, said: “Buy-to-let continues to appeal to investors in Britain’s record-low interest rate environment, as does competitively-priced family homes and commercial property.
“According to figures from the HomeLet Rental Index, the average rent in the South-East in the three months up to May 2015 was £940, with average rental values up 9.4 per cent.”
Two detached houses, with planning permission for ten flats following demolition, have a freehold guide price of £480-520,000 and are at 45 and 47 Barnhorn Road, Bexhill.
It’s not every day you get the opportunity to own your own road, but that’s exactly what’s on offer in Peacehaven. Guided freehold at £35-45,000, Wheatland Close, Telscombe Cliffs, is a cul-de-sac with an adjoining piece of land.
Richard said: “This is the first time a private road has come up for sale locally with us in many years and we anticipate keen interest from bidders. You wouldn’t be able to put up a toll but it’s certainly a talking point when you have the neighbours over to dinner.”
A 0.3-acre site, with seafront access and “panoramic views”, at Peacehaven Heights Estate, Peacehaven, has a freehold guide of £40-50,000 while another parcel of land there, at 2,500 sq ft, has an estimate of £10-12,000.
“This is the first time a private road has come up for sale locally with us in many years…”
In Hastings, a semi-detached house at 52 Park Way, where building work has begun, is guided freehold at £180-190,000, and former builder’s yard, with planning permission for residential conversion, has a freehold guide of £70-75,000 and is at 28a Athelstan Road.
A five-storey house at 21 Devonshire Road is guided freehold at £80-90,000 and an end-terrace at 60 Elphinstone Road, with planning permission to convert part of the premises into two two-bedroom apartments, has a freehold guide of £90-100,000.
In St Leonards, a four-bedroom maisonette, with planning permission for two two-bedroom flats, has a leasehold guide of £135-145,000 and is at flat 8, 102-103 Marina. The property currently generates £6,600 per annum in rental. Currently let at £4,320 per annum, a two-bedroom property at flat 4, 39 West Hill Road, has a leasehold guide of £65-70,000.
A two-bedroom maisonette at 3, 38 Lansdowne Street, Hove, and guided leasehold at £150,000-plus, is chalked for either investment or occupation while a basement store at Gwydyr Mansions, Holland Road, Hove, has a guide price of £40-50,000 and is on a 999-year lease.
Meanwhile a one-bedroom flat on the sixth floor of 21 Stockwell Court, Gower Road, Haywards Heath, has a leasehold estimate of £100-120,000 and a two-bedroom bungalow, chalked for “complete modernisation and refurbishment”, has a freehold guide of £175-185,000; it is at 98 Broad Road, Eastbourne.
For those with green fingers, a former garden nursery at Chalk Lane in Sidlesham, near Chichester, has a freehold guide price of £450-500,000
Richard said: “This is a rare opportunity to acquire this former nursery, with permitted development rights for conversion of part of the existing greenhouse into a single-storey detached contemporary dwelling of 3,552 sq ft with private gardens.
“While utilising the existing framework the accommodation will provide light and spacious four-bedroom living space, with gardens extending to 0.75 acres and parking spaces.”
Three bungalows near Littlehampton, with three bedrooms each and off-road parking, are also to go under the auctioneer’s hammer.
Numbers 1, 2 and 3 Dutch Cottages, at Toddington Lane, Wick, have, respectively, freehold guides of £140-145,000, £140-145,000 and £120-125,000.
In the same lane, a three-bedroom bungalow with gardens, called Directors Cottage, has a guide of £300,000-plus. The freehold property is currently let at £4,564 per annum.
There are 146 lots in total going under the hammer, across all five Clive Emson auctions, from Essex to Cornwall.
So far this year the independent firm has catalogued 721 lots across southern England and sold just under £90m worth of property, with a success rate of more than 85 per cent.
