A mixed use property comprising a shop and flat in busy Westcliff-on-Sea is coming up at auction next month (Dec) as an investment opportunity.
The property at 521 London Road is among 131 lots in the auction being held by Britain’s largest independent regional land and property auctioneer Clive Emson Land and Property Auctioneers.
It is being offered jointly with Park Estates at Clive Emson’s Essex regional sale in Chelmsford on Monday, December 10.
Currently let at a total of £15,400 per annum, the property has a freehold guide price of £230,000-plus.
Senior Auction Valuer Richard Jones said: “This mid-terrace property offered as a mixed-use investment opportunity comprises a ground floor commercial unit and an independently accessed two bedroom first floor flat.
“It is located in a busy and popular road with many independently businesses as well as larger High Street names and we consider the property well worth continued investment.
The shop, let on a short term commercial lease at £7,000 per annum, also includes a main office area and kitchen.
Accessed from ground floor entrance doors and stairs, the two bedroom flat has an open plan living/kitchen area and a bathroom/WC.
Clive Emson Auctioneers catalogued 180 lots for the autumn sale and £28 million was raised at a sale rate in excess of 70 per cent.
Managing Director James Emson said: “We are looking forward to our December auction – the final one of the year, which is always a festive occasion, with a host of Christmas crackers for all tastes and pockets.
“Our successful autumn auction series was certainly packed with treats as a number of properties achieved well above guide prices and we had a fantastic selection of excellent buys which were snapped up.
“Our vendors and purchasers recognise the worth of property – and also that Clive Emson offers an exceptional service covering all aspects of the market.”
The eighth and final round of Clive Emson’s regional Essex, North & East London auctions in 2018 is being staged at Chelmsford City Racecourse, Great Leighs, CM3 1PZ, on Monday, December 10 at 11am.
The firm also stages an online auction, complementing the existing live auctions. See www.cliveemson.co.uk/online for details.