Bidding war as Hastings block of flats sells at auction

Four-storey 34 Cambridge Gardens was among 150 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 Oakfield, it was eventually sold for £346,000 at the firm’s auction which ended on Wednesday 1 May.

Currently let at £24,108 per annum, the terraced property is arranged as three self-contained flats, all let under the terms of assured shorthold tenancy agreements.

Auction Appraiser Chris Milne said: “With all the flats let and generating a good income, we considered this property ideal for continued investment.

“Our bidders obviously agreed and we had an excellent auction resulting in a great outcome for both vendor and purchaser.”

The property is situated a short distance from Hastings town centre with its various local and national retailers, supermarkets, schools and mainline railway station.

• In St Leonards, a two-bedroom terraced house needing refurbishment at 7 Mount Pleasant, was sold for £155,000 freehold after strong bidding.

Located in an established residential area, the house is a short distance from Hastings town centre with its various local and national retailers, supermarkets, schools, railway station and the seafront.

Auction Appraiser Jade Flood said: “The house, set back from the seafront and with some sea views, needs refurbishment, but our bidders could see that once enhanced it would be ideal for owner occupation or investment.”

• More than three-quarters of an acre of woodland in a triangular shaped parcel in Hastings was sold for £10,000 freehold.

The land, adjacent to Underhill in Warren Road, Fairlight, extends to approximately 0.31 hectares (0.79 acres) and is located close to the A21.

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 fourth of eight this year, ends on 12 June, with bidding live 48 hours before. Lot entries close on 20 May, with the catalogue available from 24 May.

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