The Donkey Cart in Petersfield will be going up for auction next month

The Donkey Cart is arguably one of the most distinctive buildings set in Petersfield, dating back to 1534.

This property, in The Square, was a farmhouse when Henry VIII ruled, and it is just one of 142 lots that will be presented at the auction which will close on February 8.

Currently, this property is divided into sections, which are being used by businesses which are all under leases.

Rob Marchant, the Hampshire auctioneer for Clive Emson Auctioneers, said: ‘We anticipate a lot of keen interest, given that, at the upper end of the guide price and based on the current income, the gross yield is an inflation-beating 11.3 per cent.’

Let at £107,500 per annum, the freehold property is guided at £900,000 to £950,000.

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The farmhouse was occupied by Thomas Osborne and Thomas Walker, both of whom were the Mayors of Petersfield.

The auction will open up 48 hours before for people to start bidding and it will end on February 8.

He added: ‘The Donkey Cart comprises four commercial parts which are all let under the terms of commercial leases, with two of the commercial tenants being particularly long standing and in occupation for around 20 years to date. The second floor is at present configured as two residential flats, one of which is let while the larger flat unit is the only component part of the building at present vacant.

‘It is considered that the Donkey Cart would make a splendid addition to an income-producing portfolio.’