Interest in South Coast auction lots is picking up, with Clive Emson receiving more than 2,100 requests for legal packs for its latest sales.
The four events – held in Brighton, Maidstone, Saltash and Southampton between 18 and 22 March – featured a total of 151 lots.
Three-quarters of the properties on offer sold, raising £12.5m. Further disposals are expected post-sale.
Auctioneer Kevin Gilbert said that the four venues were “packed with prospective buyers, all eager to bid”, which led to strong prices being achieved.
He cited a freehold ground rent on a semi-detached home in London, N2, with a 99-year lease from 1932, which sold for £203,000 off a guide of £60,000-£65,000.
Investors were also out in force for a block of eight two-bedroom flats in Rochester, Kent. Guided at £680,000- £690,000, they sold for £840,000 – a 7% yield.
A freehold block of four flats in Hastings, East Sussex, offered on behalf of receivers, sold at £360,000 against a guide of £210,000-£225,000.
And the half-acre Binnewith Island, within the city walls of Canterbury and surrounded on three sides by the River Stour (9 March, p63), sold for almost three times its guide of £50,000-£60,000, with the hammer finally falling at £145,000.
samantha.mcclary@estatesgazette.com
