GA Property Services in Kent raised more than £680,000 in the room at its Maidstone sale last month, having already disposed of £717,000-worth of property in sales prior.
The 62-lot catalogue included a mix of residential and freehold properties. Sales prior and during totalled 44 lots (71%).
Unfortunately, the GA Property Services covenant failed to attract a successful bid at 6-7 Bouverie Square, Folkestone, Kent – a 3,113-sq ft office building producing £21,000 pa. The short time of only two years which remained on the 10-year lease dissuaded investors.
A row of five terraced houses in Edwin Street, Gravesend, Kent, owned by GA Property Services, fared better. Two are vacant but all five were snapped up for a total of £126,250.
The vacant houses, lots 14 and 15, sold for £21,250 and £26,500. Lot 13, a residential investment producing £1,988 pa, fetched £18,750. Lot 16, an office investment producing £3,900, realised £26,500, while lot 17, an office investment producing £4,750, made £33,250.
