Demand for development properties pushed revenue to £11.5m during four auctions by Clive Emson this week.
A total of 107 lots were offered and 84 sold including six prior, equating to a success rate of 79% at the auctions in Kent, Hampshire, Sussex and the West Country from 4 to 7 February. The average lot size was £137,060.
Auctioneer Kevin Gilbert said good clean value-for-money residential property sold well, as did land with development potential.
He said: “It was quite nice to see some development sites sold under the hammer with good competition suggesting the developers out there have a bit of confidence in the spring market.”
The largest lot under the hammer was a former school in Sevenoaks, which sold for £770,000 off a guide of £400,000-£450,000.
Gilbert said the sale was like a step “back to the heady days of 2007”.
He added: “It’s all about the perception that the property was good value for money. We don’t know what the purchaser will use it for. There are various buyers out there who are looking to these schools to create new private schools or day care centres.”
samantha.baden@estatesgazette.com
