Clive Emson Auctioneers raised £20m in its 26 July sale of 153 residential, commercial and land lots across southern England.
Managing director James Emson said: “As always, bidders had a good eye for value and potential returns on investment – they look for long-term capital growth and decent rental yields whatever the prevailing economic conditions are.”
One of the highlights was the purchase of four flats in a house in Penge, south-east London, for £654,000, with an annual rental income of £48,000, equivalent to a gross yield of 7.3%. The property sold for £54,000 above its guide price.
A bidding war broke out over another four flats, in Folkestone, Kent. After 122 bids, the premises sold for £407,000 – £127,000 above the guide price – representing a gross yield of 5.3%.
Described as a “prestigious Victorian manor house for updating with potential”, Richmond Manor in Torquay, Devon, sold for £679,000 – £129,000 above the guide price.
A mixed-use former service station site on the main road between Dover and Deal in Kent (pictured) sold for £500,000. The premises include a vacant car sales forecourt and offices, workshops currently let at £15,000 per annum and a vacant three-bedroom bungalow.
In Fareham, near Portsmouth in Hampshire, a commercial property occupied by a camper van dealership at a current rental of £34,000 per annum sold for £544,000, which was £114,000 above the guide price and represented a gross yield of 6.25%.
Clive Emson’s next auction will take place on 20 September.
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