RENTAL STREAM: This residential building at 9A-H & 10A-H Cobham Terrace, Bean Road, Greenhithe, Kent, has a guide price of £1.5m-plus and is among 178 lots listed across southern England by Clive Emson Auctioneers in the firm’s sixth auction of eight this year. With 16 flats, the rental income is around £142,000 pa. The auction ends on 18th September, with bidding live 48 hours beforehand.
With a rental income of around £142,000 pa, a freehold property with 16 flats has a guide price of £1.5m-plus and is among 178 lots listed across southern England by Clive Emson Auctioneers.
The residential investment property in Greenhithe, Kent (lot 127), is one of the highlights of the firm’s latest auction which concludes on September 18, with bidding live 48 hours beforehand, and covering from Essex to Cornwall.
James Emson, Managing Director, said: “We anticipate keen interest from buy-to-let investors in particular – based on the guide price and current rental income, the gross rental yield on the Greenhithe lot is nearly 9.5%, a decent return.”
Video tour https://www.cliveemson.co.uk/properties/252/127/
Also likely to catch the eye of investors is that of a freehold building with six flats at Northfleet, Gravesend, Kent, listed at £725,000 – £750,000 and producing around £73,000 pa, a gross rental yield of 9.7% at the upper price guide range (lot 68). Video tour https://www.cliveemson.co.uk/properties/252/68/
Lot 68
“Clients have instructed us to sell 36 residential investment properties in September’s auction – there are attractive rental yields to be found for buyers as well as long-term capital growth,” James added.
Among 18 lots chalked for development or conversion, cleared land at 97 Whitechapel High Street, Whitechapel, London, is guided at £500,000 – £550,000; planning permission for three one-bedroom duplex flats and a commercial unit has lapsed (lot 34). Video tour https://www.cliveemson.co.uk/properties/252/34/
Lot 34
Of the 93 vacant residential properties listed in the auction, one is described as a “stunning contemporary house and detached boathouse on a plot of around two acres featuring award-winning gardens”.
Self-build Haddon Lake House at St Lawrence, Ventnor, Isle of Wight, is guided at £700,000 – £750,000 (lot 40) and featured in the Channel 4 series George Clarke’s Amazing Spaces last year and was the 2008 winner of the TV series I Own Britain’s Best Home and Garden.
Lot 40
The gardens have also attracted national and international attention in their own right.
A quotation in print by Andrew Wilson, garden author and chair of assessors for RHS Chelsea show gardens: “Some places are simply special, revealing their unique character as one arrives, drawing the visitor in with a distinctive personality and presence. Haddon Lake House is such a place; one dip into its isolated beauty and you will be forever hooked.”
James Emson said: “The landscape restoration project has included the careful reinstatement of the early Victorian walled kitchen garden, complete with period greenhouse, cold frames, potting shed and access paths.
“Adjoining the walled garden is a contemporary Japanese-style influence courtyard that acts as a cool contrast to the walled garden.
“Both the garden and house have been widely featured in national and international media, winning awards for both the architecture and landscape.
“The main house provides flexible living accommodation over three floors and has on occasions in the past been split to provide two self-contained dwellings.
“This division could of course continue with a view to providing annexe or holiday accommodation should the new owners so require.
“In more recent times the Boathouse has been converted to provide stylish detached living accommodation, adjoining the walled kitchen garden.
“This additional accommodation has given the site still further flexibility in respect of its accommodation, with the Boathouse having been used as a successful commercial holiday let in the recent past.
“Sadly, in March, a landslip robbed Haddon Lake House of much of its lake through the slide of earth from the adjacent hillside.
“In addition, there was, what is believed to be, some relatively minor damage caused to the northern edge of the main house.
“A specification, drawing and estimates for the restoration of the lake and repairs to the northern edge of the house will be available for download alongside the auction legal pack.”
Video tour https://www.cliveemson.co.uk/properties/252/40/
For homeowners looking for uninterrupted views of the English Channel, a three-bedroom clifftop chalet bungalow at Fairlight, Hastings, East Sussex, is guided at £350,000-plus and requires “refurbishment throughout” (lot 132). Video tour https://www.cliveemson.co.uk/properties/252/132/
Lot 132
Meanwhile, Clive Emson Auctioneers has been instructed to sell, by public auction on October 3, a substantial freehold investment on the seafront in Hastings, East Sussex.
The Queens Apartments at Robertson Terrace, comprising eight commercial units and 44 residential flats sold on long leases, is guided at £750,000-plus and is currently let at £135,252 pa.
James said: “We also anticipate keen interest from investors in the building – the gross rental yield, based on the guide price and rental income, is a very attractive 18%.”
Full list of lots https://www.cliveemson.co.uk/properties/
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