Some 500 people attended GA’s Kent auction of residential and commercial lots on March 9. But pre-Budget nerves subdued the bidding and just 38% of the 45 lots on offer sold in the room. A further 11 lots went prior — pushing the total raised to £1.8m — and three found buyers afterwards.
“The sale was hard work and we had to draw out bids. But, bearing in mind that people were apprehensive about the imminent Budget and we had a mixed catalogue consisting of business premises, residential premises and land, I was very pleased with the result,” commented GA’s auctioneer, Colin Turner.
Barclays Mercantile put in a portfolio of nine business properties — ranging from a residential care home to a public house. Offered as separate lots, two sold in the room, while another four went prior. One of the more interesting was the vacant freehold of the 30-bedroom Chilton House Hotel at 14-15 Marine Parade, Folkestone in Kent. It was knocked down at £100,000 on the day.
On the residential front the vacant freehold of Kingsland Barn, Westwell, near Ashford, Kent — with permission to convert to a dwelling — created a stir in the room. It sold for £60,000, some £15,000 above its reserve price.
On March 10, GA’s Birmingham auction — comprising mainly residential properties — raised £1.5m. Of the 53 lots offered, 45% sold in the room and 18 went prior.
The auction got off to a flying start with the sale of a vacant, freehold terrace house at 337 Bell Green Road, Bell Green in Coventry, West Midlands, which realised £34,500.
It ended with a freehold house at 21 Hornsey Close, Henley Close in Coventry, West Midlands, being sold for £12,500 — double its reserve price.
