UNDER THE HAMMER: This vacant offices building at High Street, Ramsgate, Kent, built in the 18th Century and with period features, sold at Clive Emson Auctioneers’ first auction of eight this year for £495,000. The property has residential conversion permission (lot 87).
Clive Emson Auctioneers launched into the new year having raised over £21m for clients and achieving a 75% success rate in the firm’s February auction, the first of eight in 2023.
James Emson, Managing Director, said: “A total of 142 diverse lots across southern England, from Cornwall to East Anglia, were listed, with a range of properties going for well in excess of their guide prices.
“For example, such was the intensity of bidding, a combined total of £337,500 was paid above the guide prices for four two-bedroom investment flats in Portsmouth.
“It is indicative of investors looking for long-play returns with rental income and capital growth.
“There is something for most budgets at our auctions, include first-time buyers, which last year saw in excess of £160m raised for clients.”
The February catalogue included 61 vacant residential properties and 30 rental ones, along with 27 commercial buildings.
With the vacant residential properties, a detached house at Bexley, Kent, chalked for “repair”, fetched £591,000 (lot 106) and, on behalf of Eastbourne Borough Council, a large Edwardian house and garden with development potential in the East Sussex seaside town went for £522,000 (lot 82).
On the commercial front, sold lots included a chapel of rest in Dartmouth, Devon, at £75,500 (lot 51), and, at £428,000, a former annex of a school at Tunbridge Wells, Kent (lot 23).
In Norwich, East Anglia, three lock-up garages in a residential street fetched a total of £24,250. James said: “Lock-up garages always prove popular in our auctions because of the rental stream, albeit a modest one, and convenient access to storage.”
Clive Emson Auctioneers’ next auction, the second of eight this year, ends on 22 March, with bidding opening 48 hours beforehand. Entries for lots close on 27 February, with the catalogue available from 3 March.
Ends
Press release issued by Clive Emson Auctioneers’ media partner, Deep South Media.
