UNDER HAMMER: Shorncliffe Road, Folkestone
The country’s leading independent regional land and property auctioneers Clive Emson continued its strong start to 2016 with its May round of auctions.
The firm offered 152 lots across the south of England at five regional auction venues over five days and raised a total of over £23 million for clients which brings the total this year to just under £65 million.
Managing Director James Emson said: “It was a strong May auction as our successful start to the year continued with many lots substantially beating their guides to achieve some superb prices.
“There was keen demand for commercial and residential property as well as land with planning consent for development.
“The appetite for residential property investment opportunities remains extremely healthy despite the Stamp Duty surcharge and we expect this continue into our June auction.”
Clive Emson Auctioneers May auction
Highlights of the May auctions included an office block in Shorncliffe Road in Folkestone with potential for development or conversion. It sold for £990,000, well in excess of its £650,000 to £700,000 guide.
A freehold commercial investment at 235-237 Commercial Road in Portsmouth, generating £21,500 per annum in rent, realised £230,000.
In Beckley, near Rye, a detached bungalow beat its guide by nearly £100,000 to sell for £215,000.
Clive Emson Auctioneers had a record breaking 2015 in cataloguing 1,153 lots and selling £145 million worth of land and property. It has regional offices in Kent, Sussex, Hampshire, Essex and Exeter.
The next auction round runs from June 13 to June 17. Entries close on Monday May 16.
