£1m-plus worth of council lock-up garages in Eastbourne sell in auction

Located across the borough, they were among 149 lots listed by the firm across southern England and South Wales.

Richard Payne, senior auction appraiser and auctioneer, said: “This was the largest number of garages that we can recall being offered in one of our auctions, with 89 garages acquired for just over £1m. There was much interest from property investors.”

Nineteen lock-up garages and adjoining land at Wadhurst Close fetched £231,000, which was £46,000 more than the lower end of the guide price.

Four are vacant, with the remaining garages producing £11,209.12 per annum. [lot 24] Twenty-two lock-up garages in a compound at Hawkhurst Close, arranged as blocks of 12 and 10, went for £230,000.

They are currently let at £27,809.60 per annum, with seven vacant. [lot 98]

Fourteen up-and-over garages on three levels, just off Rockhurst Drive, sold for £191,000. Five are vacant and the rest are currently let at £5,366.40 per annum. [lot 48]

Six lock-up garages at the rear of Durham Court, Rockhurst Drive, went for £85,000, which was £10,000 above the lower end of the guide price.

One is let at £731.64 per annum with the rest vacant. [lot 5]

Twelve lock-up garages in two adjoining blocks in Maxfield Close were acquired for £160,000.

One is vacant, the rest generate an income of £8,992.36 per annum. [lot 66]

Sixteen lock-up garages in a compound just off Ashington Road fetched £165,000. Five are vacant and the others are currently let at £8,881.60 per annum. [lot 123]

Ten vacant up-and-over garages, in two blocks at the rear of Hamsey Close, guided at £100,000 to £120,000, are re-available. [lot 43]

Clive Emson’s next auction, the first of eight in 2024, is on 7 February, with live bidding opening 48 hours beforehand. Lot entries close on 15 January, with the catalogue released on 19 January.

https://www.cliveemson.co.uk/properties/