Terraced 31 Kings Road is 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.
It is listed with a freehold guide price of £310,000 to £320,000 at the firm’s auction which ends on Thursday 1 May.
The property is currently fully let at £38,700 per annum.
Auction Appraiser Jade Flood said: “The property is arranged as a ground floor commercial unit let to a child and parent 'play and stay' facility, plus a two-bedroom flat and a four-bedroom maisonette. All units will be sold with tenants in situ.
“We are expecting string interest from investors attracted by what may well be an exceptional yield of more than 10 per cent.”
The property is located in the heart of St Leonards within easy reach of further shops and amenities.
The shop unit is let on a five-year commercial lease from November 2023 at £13,500 per annum.
Flat 1 is let on a six-month assured shorthold tenancy agreement from June 2024 at a current rental of £1,000 per calendar month.
Flat 2, the maisonette, is let on a six-month assured shorthold tenancy agreement from June 2024 at a current rental of £1,100 per calendar month.
Also in St Leonards, three-bedroom, end-terrace house 31 Salisbury Road is offered with a freehold guide price of £220,000 to £230,000 and vacant possession.
Auction Appraiser Jade Flood said: “Now needing refurbishment, this end-terrace house is situated within close proximity to Bohemia Road which provides a range of local shops and national retailers.
“The sellers have informed us that a strip of land to the right-hand side of the property is owned by them and was purchased a few years ago. It may be suitable for parking, subject to all necessary consents being obtainable.”
The property is also a short distance from the seafront, offering easy access to coastal amenities and transport links, with St Leonard-on-Sea's railway station offering direct services to the surrounding areas and beyond.
In Hastings, a plot of land with planning consent in place for four flats is offered with a freehold guide price of £100,000 to £110,000.
Located in a predominately residential area, 61 St. Marys Road is within easy reach of Hastings town centre and two railway stations.
Senior Auction Appraiser Chris Milne said: “Planning permission was granted by Hastings Borough Council in November 2022, for a zero carbon new build comprising four self-contained apartments, subject to conditions.
The site extends to 206 sq m (2,217 sq ft).
A one-bedroom self-contained flat situated on the top floor of a converted block in St Leonards is leasehold guided £75,000 to £80,000 with a share of the freehold.
Flat 6 at 9 Villa Road is located in a mainly residential area within close proximity of Warrior Square mainline railway station, Kings Road shopping area and near the seafront.
Jade added: “Once enhanced the property will be ideal for owner occupation or investment.”
Tenure is the remainder of a 999-year lease from September 1988.
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.