Two neighbouring and substantial buildings in Ramsgate currently used mainly as letting rooms are to go under the hammer at the landmark 200th sale held by Clive Emson auctioneers.
The properties at 2 and 4 Carlton Avenue might be converted, subject to all the necessary consents being obtainable.
At present, number 4 is let at £20,800 per annum with an estimated potential income of £28,600 per annum. It is arranged as a maisonette and six letting units.
The freehold guide price for Number 4 Carlton Avenue, Ramsgate, is £205-215,000.
Number 2 is currently let at £28,640 per annum and is arranged as three self-contained flats and four letting rooms.
Again, there might be development potential as long as all necessary consents are obtainable.
The freehold guide price for Number 2 Carlton Avenue, Ramsgate, is £255-265,000.
Dave Henwood, auction valuer, said: “These are large properties and both do require work.
“Investors will be interested because of the rental income, and others might see potential in them; but all necessary consents must be obtainable before changes are made.”
More Ramsgate properties
A further opportunity at the sale is 26 High Street, St Lawrence, a mid-terrace, mixed-use property arranged as a ground floor shop and a three bedroom flat above.
Both are vacant and were previously let at £18,000 per annum.
The freehold guide price is £18,000 per annum.
Another Ramsgate lot is 105 Grange Road, a detached bungalow on a large plot currently let at £10,500 per annum and which requires improvement. It has a freehold guide price of £150-155,000.
A further lot is at 37 Harbour Street, a pair of flats – 4 and 5. Number four has a single bedroom and the other, two.
They have the remainder of a 99-year lease from 2002 and the guide price for the flats is £165,000-plus.
Also in Ramsgate is 44 Fairlight Avenue, a mid-terrace three bedroom house in need of improvement with a freehold guide price of £130,000-plus.
Minster
At Egbert Road, Minster, there is a plot of land next to The Old Bungalow, which has planning permission for a two bedroom house.
The freehold guide price is £80-85,000.
Margate properties
In Margate a handsome period property is to go under the hammer.
The four bedroom house at 59 Ramsgate Road might lend itself to sub-division as long as all necessary consents are obtainable.
As well as the above-ground accommodation in the Margate property, the basement has four rooms and it includes a front garden and parking.
Dave Henwood, auction valuer, said: “This property is situated conveniently for Margate, Broadstairs and Ramsgate and is a double-fronted period property with a balcony.
“Investors will be interested but builders and developers might also be looking at bidding.”
The freehold guide price is £285-295,000.
Also in Margate is 46 Trinity Square, another double-fronted house with two bedrooms, recently converted and with accommodation over three floors.
The freehold guide price is £165,000-plus.
Meanwhile, at 4 Cecil Street – Flat B, will be offered with a new 125-year lease.
The three bedroom flat is currently let at £7,800 per annum and the guide price is £115,000-plus.
200th auction
The properties are among 150 being offered by Clive Emson, the land and property auctioneers, ahead of its 200th sale.
The company was established in 1989 by Chairman Clive Emson.
James Emson, Managing Director, said: “This is a celebratory auction for the hard-working team here at Clive Emson and for the hundreds of estate agencies which have supported us as joint auctioneers over nearly 30 years.
“The business was founded by my father Clive in 1989 and with quality and service at the heart of everything we do, we have sold thousands of lots across southern England.
“From mid-terrace houses, sea defence forts and lock-up garages, to pubs, hotels, clubs and nuclear bunkers, the range and diversity of lots, coupled with value and potential, has been incredible.”
The auction takes place on Tuesday 20 March at the Clive Emson Conference Centre, Kent County Showground, Detling, starting at 11am.
