Former Eastbourne restaurant and flats to go under the hammer
A four-storey terraced property including flats and a former restaurant near the seafront in Eastbourne is coming up for auction later this month.
The property at 122-124 Seaside Road has planning consent for two more flats to be added.
It is among 105 lots in the latest online-only auction being held by Clive Emson Land and Property Auctioneers.
The freehold guide price for the property, which is being offered at the firm’s online auction which ends on Wednesday, March 24, is £380,000 to £400,000.
A spokesperson said, “The building is arranged as a former restaurant on the ground floor with a basement below and three self-contained flats occupying the first and second floors.
“The property is currently let at £20,700 per annum and was previously fully let at £30,900 per annum.
“Planning permission has been granted to convert the ground floor to form one studio flat and one two-bedroom flat. With planning consent in place for full residential conversion, this will make an excellent addition to any portfolio once the building works have been carried out.”
Also coming up in the auction is a block containing three self-contained flats at 121 Tideswell Road, which is being offered with a freehold guide price of £270,000 to £280,000 as an investment opportunity.
Two flats are currently let at a total of £12,960 per annum and the block was previously fully let at £21,360 per annum.
Stable buildings with potential and a plot of land once grazed by alpacas near Polegate is also set to go under the auctioneer’s gavel.
Little Mullbrooks in Summerhill, a parcel of land extending to approximately 6.78 acres, is being offered with a freehold guide price of £170,000.
Auction appraiser Chris Milne said, “This is a unique opportunity to acquire this land situated in a quiet country lane close to the town of Polegate in the Sussex Weald.
“The land, which has been used to graze alpacas for a number of years, is home to eight stables and a large barn.
“It is considered there could be potential for a variety of uses including perhaps some development, subject to all necessary consents being obtainable.”