City parking spaces in Brighton are sold at auction

The spaces, at Braemar House in Norfolk Road, were among 153 lots in the latest auction held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.

They were sold for £46,000 at the firm’s auction which ended on Wednesday 26 July – 9,000 above the lower guide, with the sale price represents an inflation-beating gross yield of 12 per cent.

Accessed via an archway to the rear of Braemar House, the spaces are currently let at £5,600 per annum on separate licences.

Senior Auction Appraiser and Auctioneer Richard Payne said: “In a city where parking can be hard to find, I was not surprised to see these spaces acquired.

“It was a rare opportunity to secure two car parking spaces located within a walled compound in the heart of the city centre.”

The spaces are situated at the southern end of Norfolk Road, close to its junction with Western Road, close to local shopping facilities, offices, pubs and restaurants – with the seafront and its recreational facilities only a few hundred metres to the south.

Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.

The next auction, the sixth of eight this year, goes live on Monday 18 September and ends on Wednesday 20 September. Deadline for entries is 29 August.

See https://www.cliveemson.co.uk for more details.