A high-yielding, mixed-use investment in the heart of Brighton’s fashionable The Lanes sold for just over £1m in the latest Clive Emson sale.
The property on Ship Street (pictured) produces £20,000 pa from a restaurant, and in the region of £120,000 pa from holiday lets booked with Airbnb, Booking.com and Vrbo (lot 25).
James Emson, managing director, said: “With inflation warnings spooking markets, buy-to-let landlords continue to look to investment properties for returns that outperform paltry interest received from cash savings.”
Clive Emson raised £16.9m from 76 lots sold at the 3 November sale, a success rate of 78%. A terraced property in Hythe, Kent, let to an accountancy firm at £10,000 pa, rising to £12,000 pa from February, sold for £281,000 against a guide of £220,000-plus (lot 102).
A shop in Petherton, Somerset, which generates £14,650 pa, fetched £172,000 off a £110-120,000 estimate (lot 86).
A freehold mixed investment of four flats and a shop in Bitterne Park, Southampton, let at £46,800 per annum, went for £545,000 (lot 49). A 3,000 sq ft trade counter unit on half an acre at Purley, Croydon, attracted a purchase price of £1,560,000 (lot 70).
Clive Emson’s next auction, the last of eight this year, is on 15 December.
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