Marching on with £16m-plus in sales: Clive Emson Auctioneers

HIDDEN GEM: An artist’s studio, bottom right, at Golant, overlooking the River Fowey in south Cornwall. Lot 76 sold for £190,000, which was £15,000 above guide price. It was among 141 lots listed in England in the March auction of Clive Emson Auctioneers.

From riverbeds to redevelopment sites across England, Clive Emson Auctioneers generated more than £16 million for clients in the March sale.

James Emson, Managing Director, said: “Despite, or because of, the latest economic travails, including an unexpected increase in inflation driven by the highest food prices in half a century, and latest banking crises and interest rates at a 14-year high, investors kept their faith in long-term capital growth and rental income by purchasing all manner of properties and redevelopment land at our March auction.”

Topping the catalogue of 141 lots, by price paid, was a block of eight flats in Margate, Kent; generating £56,820 pa, it sold for £850,000, representing a gross yield of nearly 6.7% (lot 129).

Lot 129

A commercial premises with redevelopment potential in a residential area of Larkfield, Aylesford, Kent, sparked a bidding war; the 77th bid came in at £529,000, which was £129,000 above guide price (lot 114).

Nearly 1.7 acres of the riverbed and foreshore at Queenborough, Kent, near Sheerness, fetched £20,000 off the nil reserve (lot 103).

Just off the seafront at Brighton, East Sussex, a mixed-use period building went for £451,000, an increase of £76,000 from the guide price, with 61 bids (lot 77).

In Middlesbrough, Cleveland, a two-bedroom terraced house was purchased for £34,000 against a guide price of £28,000 (lot 86).

A live music venue at Newport on the Isle of Wight, generating £19,000 per annum, sold for £181,000, which was £21,000 above guide price, a gross yield of 10.5% (lot 34).

Residential lock-up garages in mid Kent were also in demand – 19 of them went for £285,000, 10 for £121,000, 15 for £105,000 and 4 for £48,500, with one in Lancing, West Sussex, acquired for £18,500.

Clive Emson Auctioneers’ next auction, the third of eight this year, ends on Thursday, 4 May, with bidding opening 48 hours beforehand.

Lot entries close on 11 April, with the catalogue available from 15 April.