A convenience shop with a flat upstairs was sold at auction after a bidding war this week.
Port Hall Stores, a mid-terrace property in Upper Hamilton Road, Brighton, finally went under the gavel at £377,000 freehold after sustained bidding.
It was among 175 lots in the latest auction by Clive Emson Land and Property Auctioneers.
It went for more than £100,000 above the lower guide price at the auction which ended on June 12.
It was the 250th sale held since Clive Emson Auctioneers was founded in 1989.
The shop is currently let at £8,000 per annum with the flat vacant. The estimated rental value is £23,000 per annum.
Read more: Post office and shop to close
Senior auction appraiser and auctioneer Richard Payne said: “This one really took off and we had competitive bidding from the start.
“The shop is trading as Port Hall Stores and is let on a ten-year lease from 2022. The one-bedroom flat occupies the whole of the first floor and is in need of some repair but could be let to generate a good income once works have been carried out.”
In Seaford, Flat 4 at 4 Pelham Place in Pelham Road was sold for £72,000.
The flat is let at £8,400 per annum on an assured shorthold tenancy.
Richard said: “This converted flat forms the whole of the second floor of this bay fronted mid-terrace property just off the seafront and enjoys panoramic views.
“We considered it ideal for continued investment and our purchaser agreed.”
A four-bedroom maisonette near Horsham also went under the hammer.
The leasehold property at 100A High Street, Partridge Green, was sold for £101,000.
“This spacious four-bedroom maisonette, which offers light and spacious accommodation but needs updating and refurbishment, attracted strong attention,” said Richard.
“Our buyer has acquired an excellent property which occupies the first and second floors of an end-terrace property located in the heart of a popular village. We felt the maisonette offered scope for owner occupation or investment.”
A Billingshurst house needing refurbishment and repair was also sold.
End-terrace 12 Saville Gardens was snapped up at £221,000 after competitive bidding.
Richard said: “We achieved a great sale price for this property in the centre of Billingshurst – more than £70,000 above the lower freehold guide.
“Our bidder recognised the potential that, although in need of refurbishment throughout, the house provided an ideal opportunity for refurbishment, investment or owner occupation.”
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