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. 19 Upper Hamilton Road Brighton (Image: Clive Emson Auctioneers) 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 purchase.
