A CITY centre property containing a restaurant and two holiday lets is up for auction with a £1 million guide price.

The building in Ship Street, Brighton, is listed for auction by Clive Emson Auctioneers on Wednesday, November 3.

It is being offered with a freehold guide price of £955,000 to £1.05 million.

People are free to place their bids now - but only the successful bidder will get their hands on the investment property.

Popular Chinese restaurant Jia Mo is currently trading from the lower floors of the building and the vacant upper parts, comprising flats one and two, have previously been let as short-term holiday rentals.

Richard Payne, senior auction appraiser and auctioneer, said: “This is a rare opportunity to secure a high-yielding investment property at the heart of Brighton’s historic Lanes.

"The end-terrace period property is adjacent to the seafront and comprises a restaurant premises on the ground and lower ground floors and two self-contained flats above, arranged as holiday lets.

“It is superbly located enjoying sea views in the centre of the city, with local pubs, restaurants and clubs in the immediate vicinity.

“There are comprehensive shopping facilities and amenities, including mainline station, all easily accessible.”

Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Brighton.

Properties including the former Barclay’s bank site in Rye, a care home in Seaford and a church in East Wittering have been sold by Clive Emson at auction this year.

The next auction is on Wednesday, November 3. 

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