Flats 2, 4, 5, 6 & 7 at 21 Burlington Street are among 168 lots in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
They are listed as one lot, with a leasehold guide price of £420,000 to £430,000 at the firm’s auction which ends on Thursday 1 May.
Senior Auction Appraiser and Auctioneer Richard Payne said: “These flats, just off Kemp Town seafront, are currently let at £51,672 per annum and ideal for continued investment.
“The five studio flats are arranged over the first, second and third floors of two adjoining Regency properties, situated just yards from the beach.
“These flats are offered for sale with contemporary fixtures and fittings in good decorative order throughout and each is let on an assured shorthold tenancy agreement generating between £736 and £920 in rent per calendar month.”
Situated on the west side of the street, located between St George’s Road and Marine Parade, the property is within easy access of comprehensive local shopping facilities and amenities of Kemp Town.
The city centre, with its range of bars, restaurants and mainline station is easily accessible, with excellent road links via the nearby A259 linking all coastal towns.
Tenure for all the flats is a 125-year lease from September 2010 at a current ground rent of £200 per annum each.
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 firm will be in attendance at the National Landlord Investment Show, the UK’s Number One landlord & property investment exhibition at the Ashford International Hotel, Kent, on 30 April
Bidding for the current auction, the second of eight this year, goes live on Tuesday 29 April and concludes on Thursday 1 May.
See https://www.cliveemson.co.uk/ for more details.