An attractive first floor flat, with sea views from the balcony and situated in the heart of Brighton’s Lanes area was sold by auction after a bidding war.

It was among lots in the regional auction held on 22nd March in the city by Britain’s largest independent regional land and property auctioneer Clive Emson Auctioneers.

Flat 1 at 69-70 East Street went under the gavel for £205,000 leasehold as an investment buy on the remainder of a 125-year lease from 1993 and is currently let at £8,580 per annum.

Auctioneer Richard Payne said: “Our buyer recognised this fantastic opportunity to acquire an attractive one bedroom flat with Brighton Pier and seafront at the end of the road and shops, restaurants, amenities, the station and universities just a short distance away.”

A well-presented studio flat on the second floor of a converted block in the popular Hanover area of Brighton at 4 Toronto Terrace was sold for £118,000 leasehold on the remainder of a 189-year lease from 1989.

Director and Senior Auction Valuer Sam Kinloch said: “The property, now vacant, was previously let at £7,200 per annum and our purchaser has recognised that it would suit continued investment or owner-occupation.”

Clive Emson Managing Director James Emson said: “The sheer variety of the lots we have on offer continues to draw crowds to our auction rooms.

“We are seeing ongoing demand for mixed-use commercial and residential properties, particularly from investors adding diversity to their portfolios.

“Another continuing trend is flats or houses in need of improvement, modernisation or even complete refurbishment being offered as homes with potential and attracting strong interest from developers and investors or owner-occupiers seeking a project.”

Land and buildings situated in the heart of the South Downs National Park near Worthing was sold at the auction after a bidding war.

Offered freehold with vacant possession, the land and buildings at Patching Farm, The Street, Patching, went under the auctioneers gavel for £162,000.

The land is in the secluded village of Patching located to the north of the A27 between Worthing and Arundel.

The shop and first floor flat at 87 Cavendish Place, currently let at £12,400 per annum, had a freehold guide price of £150,000 to £155,000.Senior Auction Valuer Emma Attrell said: “We had significant interest in this property situated along a busy thoroughfare within close proximity of the Arndale Shopping Centre, Eastbourne town centre and seafront.

“With investors increasingly looking towards the commercial marker to bolster their portfolios, I was sure this solidly-tenanted mixed-use property would prove popular.”

The building is currently arranged as a ground floor shop, which is let on a 12-year lease from March 2006 at £5,500 per annum. The upstairs flat has been let on an assured shorthold tenancy agreement to the same tenant since 2005 at £575 per calendar month.

Clive Emson holds eight rounds of auctions each year at five locations from Essex to Cornwall on consecutive days, this time with 148 lots.

Company chairman Clive Emson has been presented with a top civic honour, the Kent Invicta Award, for his outstanding achievements and philanthropy across the county. He was also given a £5,000 cheque for Kent-based charities of his choice.

The third round of Clive Emson’s 2017 regional Sussex and Surrey auctions is at the Brighton Metropole on Monday 8th May at 11am. The firm stages an online auction, complementing the existing live auctions. See www.cliveemson.co.uk/online for details.